BlackRock Invested $47 Million In Securitize, Deepening Its Efforts In Tokenization
BlackRock, which is the biggest asset manager in the world, has recently deepened its efforts towards tokenization. This is due to the fact that BlackRock invested about $47 million, in a round of fund raising for a company called Securitize; that is focused on financial assets tokenization.
In the time past, BlackRock had partnered with Securitize, to establish BlackRock's first fund that was tokenized. The use of this tokenized fund was to provide another means by which USD yields could be earned. And it was accessible through Securitize market, to investors who were eligible.
Most of the popular financial companies and major fintech companies have been showing lots of interest in tokenization. These companies have emphasized that better levels of transparency, and lower costs; can be achieved using blockchain technology.
Larry Fink, who is the Chief Executive Officer of BlackRock, has said that securities that are tokenized, is the future for major markets. This particular round of fund raising involved other investors, such as Tradeweb Markets, ParaFi Capital, and Hamilton Lane.