The tokenization specialist has securitized a tokenized credit fund with a $57 trillion service to financial giant BNY as the appetite for real-world assets (RWA) grows rapidly.
The Securitize Tokenized AAA Clo Fund (STAC), available on the Ethereum Network, aims to offer Onchain investors collateralized loan obligations (CLOS), According to a press release on Wednesday.
BNY will act as custodian of the fund’s assets, while investment management will be handled by Insight, a BNY subsidiary focused on fixed income and structured credit strategies.
grove, Defi protocol sky’s Onchain credit-focus capital allocator (Sky), plans to put $100 million into the fund as an anchor investor, according to the release.
The offering aims to bring one of the most robust credit products on the blockchain rails as demand for tokenized assets accelerates. BCG and Ripple expected That the tokenized real-world asset (RWA) market could reach $18.9 trillion by 2033, UP from $ 35 billion currently.
Close bundle corporate loans in branches of different risk levels. AAA-rated tranches, the most secure, offer floating-rate exposure that typically appeals to institutional investors.
Historically, these investments have been difficult to access or slow to resolve. Tokenizing mutual funds can change that by enabling faster settlements, improved distribution and easier fractional ownership.
“For clients looking for yield, tokenization is a great way to improve access to quality credit in an efficient and transparent instrument,” said Jose Minaya, BNY’s global head of investments and wealth.
Securitize has released $4.5 billion of tokenized assets such as equities and funds, including BlackRock’s Tokenized Money Market Fund Buidl.
The The company submitted plans this week to go public through a merger with a cantor fitzgerald spac at a $1.25 billion valuation, aiming to become the first US-listed end-to-end tokenization firm.
Read more: Tokenization firm Securitize aims for public listing through spac deal at $1.25B valuation
