Skybridge Capital, the investment management company of Anthony Scaramucci, plans tokenize 300 million dollars of its hedge funds on the avalanche
network.
The cabinet provides its Macro Macro Digital fund and its legion strategies in partnership with the Tokeny tokenization supplier and its parent, Apex Group, which manages more than 3.5 billions of dollars in assets, according to the press release shared with Coindesk on Tuesday. Apex acquired Tokeny earlier this year.
The initiative uses the ERC-3643 token standard with the operational support for the 3.0 Apex digital platform, which manages the issue, administration and distribution.
Skybridge’s decision underlines the growing appeal of use (Rwa). World banks and asset managers explore this technology to reduce settlement times, increase transparency and keep the markets open 24 hours a day.
The Green Titerization Capital Society has announced for Tokensize $ 1 billion in debts and receivables on the XDC network and has made its debut on a tokel credit platform on XRP LEDGER, while the specialist in tokenization Securitize also offers tokens from various funds by Hamilton Lane, Apollo and KKR.
The Rwa tokenized market has doubled in the past year, exceeding $ 26 billion, according to Rwa.xyz data, and is expected to become a dollar Billion market by 2030, according to McKinsey, Ripple, BCG and others.
“We are impatient to bring our hedge funds in the digital, chain era, to improve transparency, liquidity and accessibility for our investors, and demonstrating how traditional finance and blockchain can work together to create smarter and more effective investment solutions,” said Skybridge Capital and CEO Anthony Scaramucci in a statement.
The avalanche is increasingly aims to position itself as a center for tokenized assets. Bergen County in New Jersey uses the network to digitize real estate deeds of $ 240 billion in real estate, fight fraud and reduce processing time.
Find out more: Stellar Development Foundation invests in Archax, aimed at stimulating tokenization
