BlackRock-backed Securitize integrates Wormhole for cross-chain tokenization

crypto.news

2024-09-20 01:21:35

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Securitize has partnered with Wormhole to integrate cross-chain capabilities for all tokenized assets on its platform.

Securitize, the tokenization platform backed by financial giant BlackRock, announced a new integration with the Wormhole Foundation, enhancing the cross-chain capabilities of its tokenized assets. The collaboration, announced in a Sept. 20 blog post, is expected to enable future assets issued via Securitize to leverage Wormhole‘s blockchain interoperability framework.

Under the partnership agreement, Wormhole’s messaging protocol will be customized by Securitize with its own smart contracts to meet asset managers’ regulatory requirements.

Securitize, which facilitates tokenized securities, sees the integration as a significant step in bridging traditional and decentralized financial s.

“This partnership with Wormhole will help enable sub-second, sub-penny transactions and move us into an increasingly cross-chain eco, showcasing yet another example of how public blockchains enable new use cases that had previously been unavailable.”

Carlos Domingo, Securitize co-founder & chief utive

Following the announcement, Wormhole’s native token W (WORMHOLE) rose by 6% to $0.24.

The collaboration comes months after Securitize raised $47 million in a funding round led by BlackRock, further solidifying its position in real-world asset tokenization. Other investors such as Hamilton Lane, ParaFi Capital, and Tradeweb Markets, also participated in the funding.

W4,7%

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