Benson Toti
Securitize has integrated with Wormhole to bring cross-chain utilization and capabilities to assets tokenized via its platform.
The Wormhole (W) token rose slightly amid the news, with W price reaching highs of $0.25. W price was up 5% in the past 24 hours and 17% in the past week.
In an announcement on Sept. 20, BlackRock-backed Securitized said it had selected Wormhole as its official interoperability partner.
🌪️@securitize brings the world onchain.
@wormhole takes it multichain.
Securitize has selected Wormhole as its official interoperability provider for all current and future tokenized assets
Learn more ⤵️
According to Carlos Domingo, the chief executive officer and co-founder of Securitize, the public blockchain is essential to a thriving tokenized securities ecosystem.
Such permissionless blockchains are what is helping to unlock the full potential of crypto and blockchain technology, the Securitize CEO noted. He added:
This partnership with Wormhole will help enable sub-second, sub-penny transactions and move us into an increasingly cross-chain ecosystem, showcasing yet another example of how public blockchains enable new use cases that had previously been unavailable.
Adoption of real-world assets
The collaboration will work through Securitize’s cooperation with the Wormhole Foundation.
The two platforms will be eyeing further growth and adoption across the global real-world asset (RWA) tokenization market with this move.
To push this forward, Securitize will leverage Wormhole’s multi-chain applications and bridge technology.
It’s a milestone that will see more institutional users across the RWA space benefit from cross-chain interoperability, with this helping to bring traditional finance and decentralized finance together, the firms said in the press release.
Asset issuers will be able to tap into Securitize’s tokenization capabilities and Wornhole’s messaging protocol integration for advanced multi-chain token transfers across blockchains.
The partnership also means fresh liquidity, flexibility, and accessibility for developers and users to move tokenized assets.
Wormhole Foundation co-founder and CCO Robinson Burkey lauded the partnership as one set to “enable a more complete asset management experience,” for users.
Demand from institutional investors also means tokenization will play a huge role in bridging TradFi to DeFi, Burkey noted.
Securitize’s traction grows with BlackRock partnership
Securitize has helped bring major tokenized funds on-chain in collaboration with global asset managers, including BlackRock, KKR, and Hamilton Lane.
Currently, Securitize is the transfer agent and tokenization platform for the BlackRock USD Institutional Digital Liquidity Fund, or BUIDL.
According to rwa.xyz data, BUIDL, which launched on Ethereum in March, is the largest tokenized US Treasuries asset, with over $521 million in market cap.
Meanwhile, Wormhole offers a blockchain interoperability network that supports DeFi and NFTs among other use cases. Partners include Circle, Uniswap and AMD.
Wormhole adds Google Cloud as a validator node
The announcement of a partnership between Wormhole and Securitize comes just a day after the blockchain network revealed its collaboration with Google’s cloud computing unit.
In the September 18 press release, Wormhole Foundation said it had added Google Cloud the Guardian Network, a decentralized set of validator nodes key to transaction verification.
The group includes Figment, RockawayX, P2P, and Everstake.
Google Cloud will provide its services as a Guardian Node, with Wormhole leveraging the cloud computing giant’s infrastructure to bolster its decentralization.
Other than security, the partnership is set to boost Wormhole’s zero-knowledge research.
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