To expand its offering to registered investment advisors (RIAs), asset tokenization company Securitize has acquired digital asset wealth platform Onramp Invest.An email notification on Thursday stated that the acquisition is anticipated to close soon and that the specifics of the transaction were not made public.In order to incorporate Securitize goods into its current business, Onramp will operate as a subsidiary of Securitize.
The goal of Securitize is to enable RIAs to provide tokenized investments to their clients in alternative asset classes like real estate, private equity, private credit, and secondaries.
“Onramp already offered RIAs easy access to digital assets, so it is a very natural extension to offer them tokenized alternative assets to complement their portfolios,” Securitize CEO Carlos Domingo said in a statement.
The acquisition may also be a hint of increased startup consolidation in these industries, as traditional markets and digital assets continue to be intertwined.
“With technology valuations significantly down and VC investment drying up, there is now a new opportunity for companies with a strong balance sheet and a growing business, like Securitize, to accelerate the digitization of finance and our role in driving it,” Domingo stated in an interview.