Miami-based asset tokenization startup company Securitize has officially announced they have raised $47 million in a round led by $10 trillion asset management firm Blackrock, who is led by Larry Fink.
BlackRock executive Joseph Chalom, who presently serves as their Global Head of Strategic Ecosystem Partnerships, will join Securitize’s board as part of this investment.
“At BlackRock, we believe that tokenization has the potential to drive a significant transformation in capital markets infrastructure,” Chalom said in an official statement. “Our investment in Securitize is another step in the evolution of our digital assets strategy. We are pleased to lead this investment round alongside other participants and help foster innovation that will help meet the future needs of our clients.”
BlackRock launched its first tokenized fund, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) back in March of this year. It enables crypto investors to receive dividends off the back of United States Treasury Bills without having to convert their holdings into fiat, and the product has been able to notch more than $240 million of deposits, according to Bloomberg.
Securitize landed a $48 million investment back in 2021.
