BlackRock's Securitize Receives Strategic Investment from Jump Crypto

On May 8th, as per the report in Forbes, the quant trading behemoth Jump Trading's crypto division, Jump Crypto, has made a strategic investment in the asset tokenization platform Securitize. The specific amount of the investment remains undisclosed. This is the latest round of funding that Securitize has received following a $47 million investment from BlackRock last year. Michael Sonnenshein, the COO of Securitize, stated that Jump's entry indicates the recognition of the on-chain capital market by traditional financial institutions. The advantages of tokenized products, such as daily dividends and collateral applications, are attracting yield-seeking investors to shift from stablecoins to tokenized government bonds. Securitize currently provides tokenization services to top asset management firms like BlackRock and Apollo. Its flagship product, the BUIDL Fund (a tokenized money market fund), has reached a scale of $2.86 billion. Securitize is collaborating with Ethena Labs to develop Converge, a DeFi blockchain focused on compliance and designed for institutions. It is expected to launch this quarter.