Securitize Surpasses $1 Billion in Tokenized On-Chain Assets

Leading tokenization firm Securitize has surpassed $1 billion in tokenized on-chain assets, largely driven by the success of BlackRock’s BUIDL fund. The firm achieved this milestone alongside several other funds, with BUIDL itself crossing the half-billion dollar mark in July.

> “It's not a huge surprise that people want it. It's a surprise also how fast this has worked in such a small period of time. But I still think that we're scratching the surface,”
> Carlos Domingo, Co-Founder and CEO of Securitize

The firm announced the milestone on Thursday, coinciding with the launch of a new service designed to streamline tokenized fund administration. This new venture, Securitize Fund Services, aims to simplify operational and compliance tasks tied to the creation of new blockchain-based real-world asset products.

> “We decided to basically launch our own fund admin service,” Domingo said. “Traditional fund admins are not set up to serve on-chain securities for tokenized funds that move at blockchain speed.”

The fund administrator service will assist companies like BlackRock and Hamilton Lane in developing new crypto-based funds, as well as providing support for regulatory compliance, tax services, financial reporting, and record keeping.

Traditionally, fund administration in crypto has been fragmented among various competing firms, mostly from Wall Street. Domingo emphasized that consolidating this service in-house would enhance customer service and pave the way for launching new and existing products on different blockchains. The service will be globally available since fund administration is not regulated.

> “We have a lineup of customers already,” Domingo mentioned, as he prepared to speak at The Block’s Emergence conference in December.