Securitize to bring BUIDL tokenized fund to DeFi with RedStone price feeds

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Real-world plus (RWA) tokenization institution Securitize has selected RedStone arsenic the superior oracle supplier for its tokenized products, which see BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) and the Apollo Diversified Credit Securitize Fund (ACRED).

According to a March 12 announcement, RedStone volition present terms feeds for existent and aboriginal tokenized products offered by Securitize. As a DeFi-focused oracle provider, RedStone volition purportedly grow the usage cases of BUIDL and ACRED into wealth marketplace exchanges and collateralized DeFi platforms, Securitize said.

RedStone provides crosschain information feeds for decentralized concern protocols connected Ethereum, Avalanche and Polygon. According to DefiLlama data, it has amassed $4.3 cardinal successful full worth secured crossed each clients.

In July, RedStone raised $15 cardinal successful a Series A backing round led by Arrington Capital, with further information from Spartan, IOSG Ventures, HTX Ventures and others.

Securitize selected RedStone arsenic its oracle supplier due to the fact that of its “modular design,” which means it “can standard to thousands of chains and enactment caller implementations successful a substance of days,” RedStone main operating serviceman Marcin Kazmierczak told Cointelegraph successful a written statement.

By utilizing the RedStone oracle terms feeds, Securitize’s funds “can present beryllium utilized crossed DeFi protocols specified arsenic Morpho, Compound oregon Spark,” helium said.

Institutional involvement successful tokenized assets connected the rise

Securitize co-founder and CEO Carlos Domingo told Cointelegraph that request for tokenized funds is increasing crossed a “diverse scope of investors and users” spanning accepted concern and crypto-native firms.

“Institutional investors, backstage equity firms, and recognition managers are turning to tokenization to heighten efficiency, trim operational friction, and amended liquidity for backstage markets,” helium said.

On the crypto-native side, companies “see tokenized RWAs arsenic a unafraid and businesslike mode to negociate treasury reserves portion benefiting from unchangeable yields,” said Domingo.

So far, the tokenization of backstage recognition and US Treasury bonds person seen the largest uptake, according to manufacture data. The full marketplace for onchain RWAs is approaching $18 billion, having grown by 16.8% implicit the past 30 days, according to RWA.xyz.

Separate information from Security Token Market showed that more than $50 cardinal worthy of assets were tokenized by the extremity of 2024, with the bulk coming from existent estate.

The tokenization marketplace has attracted important players successful caller years, with the likes of Ondo Finance, Tradable and Brickken entering the fray.

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