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New York-headquartered financial giant BlackRock, which boasts a total of $10 trillion worth of assets under management, recently&nbsp;<a href="https://www.prnewswire.com/news-releases/securitize-announces-47-million-strategic-funding-round-led-by-blackrock-302133075.html">spearheaded</a> a funding round for real-world asset tokenization firm Securitize.&nbsp;&nbsp;&nbsp;
BlackRock's Joseph Chalom has also become part of Securitize's board of directors.&nbsp;
Earlier this year, the Larry Fink-helmed firm joined forces with Securitize in order to launch its first tokenized fund powered by the Ethereum blockchain.&nbsp;
As&nbsp;<a href="https://u.today/forget-bitcoin-blackrock-ceo-touts-next-big-thing-in-crypto">reported by U.Today</a>, Fink recently opined that tokenization would be the next big thing for cryptocurrencies in his annual letter to investors.&nbsp;
Tokenization, a new buzzword within the financial industry, refers to the process of converting real-world assets into fractionalized digital tokens with the help of blockchain. Such a technology is capable of enhancing the efficiency of capital markets while also increasing their accessibility.&nbsp;
BlackRock, of course, made waves earlier this year with the launch of its record-shattering Bitcoin exchange-traded fund. Despite slowing inflows, the fund remains a monumental success.&nbsp;&nbsp;&nbsp;&nbsp;
Robert Mitchnick, head of digital assets at BlackRock, recently&nbsp;<a href="https://u.today/blackrock-claims-theres-little-demand-for-ethereum">acknowledged</a> that there was little demand for Ethereum and other altcoins, which is why Bitcoin remains their key focus.&nbsp;
That said, tokenization is evidently another promising avenue for BlackRock given its recent moves. BlackRock's Chalom recently&nbsp;<a href="https://fortune.com/crypto/2024/05/01/blackrock-securitize-hamilton-lane-tokenization-buidl-prometheum/">told Fortune</a> that the investment in Securitize represents yet "another step" in their digital asset strategy.&nbsp;
BlackRock is far from being the only financial giant that is betting on tokenization. Last November, US banking behemoth JPMorgan launched its own tokenization platform.&nbsp;
In April, credit rating agency Moody's said that the growth of tokenization hinges on the development of blockchain-powered secondary markets.&nbsp;

BlackRock Leads Funding Round for Securitize with Focus on Tokenization

U_Today

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