May 25, 2024
BlackRock executive joins Securitize's board
Latest Cryptocurrency News

BlackRock Executive Joins Securitize Amid Funding and Token Launch

In a move signaling the growing convergence between traditional finance and blockchain technology, Joseph Chalom is set to join Securitize’s Board of Directors. Chalom currently serves as the Global Head of Strategic Ecosystem Partnerships at BlackRock.

This strategic appointment underscores the importance of the alliance between the two entities in driving the digitization of capital markets through tokenization.

BlackRock Launches Tokenized Fund on Ethereum Platform

Simultaneous to this announcement, BlackRock has launched its inaugural tokenized fund, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), on the Ethereum (ETH) blockchain.

Managed in collaboration with Securitize, BUIDL aims to maintain a stable token value of $1 while offering dividends directly to investors’ wallets. The fund also provides flexible custody options, enhancing accessibility and convenience for investors.

Industry Giants Rally Behind Securitize

Carlos Domingo, co-founder and CEO of Securitize, expressed his enthusiasm for the backing received from prominent investors. He also highlighted their commitment to driving innovation in capital markets.

Additionally, Ben Forman, founder and Managing Partner of ParaFi Capital, praised Securitize’s cutting-edge infrastructure. He emphasized its role in facilitating the transition of traditional assets onto blockchain platforms.

The capital infusion received by Securitize includes contributions from Hamilton Lane, ParaFi Capital, and Tradeweb Markets, among others.

Strategic investors in the round, including Aptos Labs, Circle, and Paxos, underscore the broad industry support for Securitize’s innovative approaches. They also highlighted the company’s efforts to transform capital markets through blockchain technology.

With BlackRock’s representation on Securitize’s Board and the launch of the BUIDL tokenized fund, the collaboration between these industry leaders is significant. It marks a milestone in traditional finance’s evolution towards embracing blockchain-based solutions.

Image by freepik

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