Securitize is working with Wormhole to integrate cross-chain capabilities for all tokenized assets on its platform.
Securitize, the tokenization platform backed by financial giant BlackRock, has announced a new integration with the Wormhole Foundation, enhancing the cross-chain capabilities of its tokenized assets. The partnership, announced in a September 20 blog post, is expected to enable future assets issued through 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 the regulatory requirements of asset managers.
Securitize, which facilitates tokenized security, sees the integration as an important step in bridging traditional and decentralized financial systems.
“This partnership with Wormhole will enable sub-penny transactions and move us toward an increasingly cross-chain ecosystem, showing yet another example of how public blockchains enable new use cases that were previously unavailable.”
Carlos Domingo, co-founder and CEO of Securitize
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Following the announcement, Wormhole’s native token W (WORMHOLE) rose 6% to $0.24.
The partnership comes months after Securitize raised $47 million in a funding round led by BlackRock, further cementing its position in real-world asset tokenization. Other investors such as Hamilton Lane, ParaFi Capital and Tradeweb Markets also participated in the financing.
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Credit : cryptonews.net
