SkyBridge Capital has announced the launch of asset tokenization using the Avalanche platform, indicating an increasing interest in this area in the financial market.
SkyBridge Asset Tokenization
SkyBridge plans to split its efforts into two funds for tokenization. One fund will tokenize direct holdings in cryptocurrencies like Bitcoin, while the second will tokenize a portfolio mixing venture capital stakes with crypto-focused funds. These initiatives represent about 10% of SkyBridge's total assets.
Why Avalanche for Tokenization
Avalanche has become a popular choice for real-world asset projects due to its fast transaction speeds and scalability. Developers and institutions are turning to the blockchain for tokenizing traditional assets. SkyBridge's involvement in this process highlights the growing interest in tokenization in asset management.
The Future of Tokenization in Finance
SkyBridge's actions reflect a broader transformation underway in the financial sector, where major banks and asset managers are exploring tokenization of various assets. This shift also underscores Scaramucci's confidence in the prospects of cryptocurrencies, as he believes that tokenization will be a structural shift in financial markets.
SkyBridge Capital's initiative for asset tokenization on Avalanche underscores the growing interest and potential of this technology in the traditional financial system.
