Securitize, the tokenization platform backed by financial giant BlackRock, announced a new integration with the Wormhole Foundation to enhance cross-chain capabilities of its tokenized assets.
Securitize's Integration with Wormhole
On September 20, Securitize announced in its blog about the official integration with the Wormhole Foundation, aimed at leveraging Wormhole's cross-chain framework for tokenized assets issued through the Securitize platform.
Purpose of the Partnership
Under the partnership agreement, Wormhole’s messaging protocol will be customized with Securitize's own smart contracts to meet asset managers’ regulatory requirements.
Significance and Consequences
Following the announcement, Wormhole’s native token W rose by 6% to $0.24. The partnership was announced 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.
The integration of Securitize with Wormhole marks a significant step in expanding cross-chain interaction capabilities and strengthening positions in the field of tokenized assets.
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