Wormhole and Securitize have teamed to incorporate cross-chain functionality for all tokenized assets on Securitize’s platform.
The financial behemoth BlackRock-backed tokenization platform Securitize has announced a new connection with the Wormhole Foundation that will improve the tokenized assets’ cross-chain capabilities.
Wormhole’s blockchain interoperability framework is anticipated to be utilized by future assets released through Securitize thanks to the partnership, which was revealed in a blog post on September 20.
As per the collaboration agreement, Securitize will adapt Wormhole’s communications protocol with its own smart contracts to satisfy regulatory standards for asset managers.
The integration is considered a critical step in linking traditional and decentralized financial systems by Securitize, a platform that makes tokenized securities possible. Carlos Domingo, Securitize co-founder & chief executive:
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.”
The announcement caused Wormhole’s native token to increase in value by 6%, reaching $0.24. The partnership was formed months after Securitize strengthened its position in real-world asset tokenization by raising $47 million in a fundraising round headed by BlackRock.
Other investors also contributed to the funding, including Tradeweb Markets, ParaFi Capital, and Hamilton Lane.
