Securitize Chooses RedStone as Oracle Provider for Tokenized Products

Securitize, a company specializing in real-world asset (RWA) tokenization, has selected RedStone as its primary oracle provider for tokenized products, including BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) and the Apollo Diversified Credit Securitize Fund (ACRED).

According to a March 12 announcement, RedStone will deliver price feeds for both current and future tokenized products offered by Securitize. As a DeFi-focused oracle provider, RedStone aims to expand the use cases of BUIDL and ACRED into money market exchanges and collateralized DeFi platforms.

RedStone provides cross-chain data feeds for decentralized finance protocols on Ethereum, Avalanche, and Polygon. According to DefiLlama data, RedStone has secured $4.3 billion in total value across all its clients.

In July, RedStone raised $15 million in a Series A funding round led by Arrington Capital, with additional participation from Spartan, IOSG Ventures, HTX Ventures, and others.

Securitize Expands Tokenized Assets into DeFi with RedStone

Securitize explained its choice of RedStone as an oracle provider, citing RedStone’s “modular design”, which allows it to scale across thousands of chains and quickly support new implementations. RedStone’s COO Marcin Kazmierczak stated that, by using RedStone price feeds, Securitize’s funds can now be utilized across DeFi protocols.

Securitize CEO Carlos Domingo highlighted the growing demand for tokenized funds, noting that institutional investors and crypto-native firms are turning to tokenization to enhance efficiency and liquidity. Notably, the tokenization of private credit and U.S. Treasury bonds has garnered significant interest.

The on-chain RWA market is approaching $18 billion, with projections indicating over $50 billion worth of assets will be tokenized by the end of 2024. The tokenization market continues to attract major players such as Ondo Finance, Tradable, and Brickken.

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