Securitize, a tokenization firm based in Miami, has successfully closed a strategic funding round, raising $47 million.
Securitize, a tokenization firm based in Miami, has successfully closed a strategic funding round, raising $47 million. The funding round was led by BlackRock, the world's largest asset manager and issuer of IBIT, the largest spot Bitcoin ETF in the United States.
Securitize CEO Carlos Domingo expressed his excitement about the funding and highlighted the company's plans to accelerate product development and expand its global presence. Domingo also mentioned that the next goal for Securitize is to obtain approval to launch in Europe under the EU's DLT Pilot Regime. Notable participants in the funding round included traditional finance firms like Hamilton Lane and Tradeweb Markets, as well as crypto-native companies like Paxos, Circle, and Aptos Labs.
The investment from BlackRock comes as the company's USD Institutional Digital Liquidity Fund (BUIDL) garners attention from financial institutions. Since its launch in March, the BUIDL fund has grown to $375 million in assets under management. Unlike other similar funds built on alternative blockchains, BlackRock's BUIDL fund operates directly on the Ethereum network through its partnership with Securitize. Investors in the fund hold Ethereum-based BUIDL tokens, which are backed by U.S. Treasuries and repo agreements.
BlackRock CEO Larry Fink has previously expressed his belief in the transformative power of tokenization in capital markets. The investment in Securitize aligns with BlackRock's digital assets strategy, and Joseph Chalom, BlackRock's Global Head of Strategic Ecosystem Partnerships, has been appointed to Securitize's board of directors.
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