The partnership will bring added benefits to the burgeoning RWA ecosystem, enabling swifter and cheaper transactions across blockchains and pushing tokenized assets toward large-scale adoption.
Asset tokenization platform Securitize has integrated cross-chain communication protocol Wormhole to bring effortless token transferability between multiple blockchains. Securitize works with numerous firms and institutions to bring assets like real estate, art, financial instruments, and more on-chain to create Real World Assets (RWAs) through a process called tokenization.
With Wormhole’s capabilities, all RWAs created on Securitize can now be transferred across 30 blockchains and layer 2 networks. While RWAs have been at the forefront of the industry’s recent narrative, the lack of interoperability hinders adoption.
While Ethereum holds the lion’s share of RWA TVL (total value locked), amounting to about $9 billion, other chains can offer the needed efficiency to allow quick token transfers at low costs.
To that end, Carlos Domingo, CEO and co-founder of Securitize, mentioned in a statement issued by the firm, “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.”
Robinson Burkey, co-founder and CCO of Wormhole Foundation, added, “This advancement has set the stage for increased institutional adoption of tokenized assets – a significant moment for the industry in an effort to bridge the massive traditional finance market to decentralized finance.”
Securitize is Tapping Into Massive Institutional Interest Around RWAs
Securitize, being a leading tokenization platform, boasts institutional big-names like BlackRock, Hamilton Lane InvestCorp, and Kohlberg Kravis Roberts, among others. Other asset managers like WisdomTree have launched their own RWA platforms. Franklin Templeton is in the process of doing so. These developments relay the raging institutional interest in the RWA vertical. That interest has led to Securitize bringing $1 billion in funds on-chain for asset managers. The platform is registered in the US as a broker-dealer, transfer agent, and alternative trading system (ATS).
