According to Cointelegraph, Securitize, a tokenization platform, has integrated the cross-chain communication protocol Wormhole to enhance cross-chain capabilities for assets tokenized through its platform. This integration aims to facilitate sub-second, sub-penny transactions and foster a real-world asset (RWA) cross-chain ecosystem. RWAs, which include tokenized claims on financial assets, commodities, or art, are becoming a popular segment in the cryptocurrency market. However, constraints on transferability among blockchain networks and wallets hinder their adoption.
Carlos Domingo, CEO of Securitize, emphasized the need for tokenized securities to thrive on public, permissionless blockchains to unlock the potential of blockchain technology. The RWA market is currently valued at approximately $12 billion, with significant growth potential. On September 18, WisdomTree launched an RWA platform to allow users to access its RWA tokens from any wallet or blockchain network. Similarly, Franklin Templeton has plans to expand its RWA offerings.
Securitize offers RWA tokenization services to institutional investment managers, including BlackRock, Hamilton Lane InvestCorp, and KKR. The platform has onboarded around $1 billion into RWAs and is registered with U.S. regulators as a broker-dealer, transfer agent, and alternative trading system (ATS). Tokenized RWAs currently hold over $12 billion in total value locked (TVL), representing a $30-trillion market opportunity globally.
Wormhole, a blockchain protocol, specializes in sending and verifying messages, including data on token transfers, among various blockchains. It connects nearly 30 networks and layer 2 scaling chains, including Ethereum, Avalanche, and Solana. Ethereum dominates the RWA market in terms of TVL, with approximately $9 billion as of September 20. Issuers are expanding to other chains, with Franklin Templeton planning to launch tokenized funds on Solana.
Robinson Burkey, CCO of Wormhole Foundation, stated that smoother cross-chain integration has set the stage for increased institutional adoption of tokenized assets.
Weatherly
