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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Taurus Launches Solana-Based Digital Asset Platform

Taurus, a digital asset infrastructure firm, has launched Taurus-Capital, an enterprise-grade custody and tokenization platform on the Solana blockchain. Backed by Deutsche Bank, Taurus aims to serve global financial institutions seeking to develop tokenized asset solutions.

This integration allows banks and issuers to store and stake any Solana-based tokenized assets through the Taurus-Protect custody platform, as well as issue programmable tokenized assets on Taurus-Capital.

Taurus stated that by leveraging Solana’s high throughput and low latency, clients can automate financial workflows and payment processes, achieving new levels of efficiency.

Taurus’ decision to integrate with Solana was driven by institutional demand for real-world asset (RWA) tokenization. Jürgen Hofbauer, the company’s Head of Global Strategic Partnerships, noted that banks and companies will have access to an advanced platform to tokenize assets such as equities, debt, structured products, funds, tokenized deposits, and CBDCs.

The platform is part of the growing RWA industry, which aims to increase accessibility and liquidity by minting financial and tangible assets on the blockchain.

Taurus raised $65 million in a Series B funding round led by Credit Suisse in February 2023, with participation from Deutsche Bank, Pictet Group, Cedar Mundi Ventures, Arab Bank Switzerland, and Investis.

Following the investment, Taurus stated it sees potential for the digital asset industry to surpass a $10 trillion value by digitizing private assets.

The Convergence of TradFi and Digital Assets is “No Longer Theoretical”

The Swiss Distributed Ledger Technology (DLT) Act, introduced in 2021, played a significant role in enabling regulated tokenization services for banks, Hofbauer noted.

These rigorous compliance requirements have allowed banks to offer tokenization services under “clear” regulatory guidelines, meaning that the convergence of traditional finance and digital assets is “no longer theoretical,” Hofbauer added.

“The integration resulted from real institutional demand from our client base—particularly from banks in the Middle East looking to expand their digital asset capabilities on Solana,” he said.

“We understand there is growing interest from banking clients seeking to issue stablecoins and other tokenized assets on Solana,” Hofbauer concluded.

European financial institutions are increasingly interested in enterprise-grade crypto solutions.

Germany’s largest federal bank, Landesbank Baden-Württemberg, began offering crypto custody solutions after partnering with the Austria-based Bitpanda cryptocurrency platform for its institutional custody platform, according to a report in April 2024.

In February, DZ Bank, Germany’s second-largest bank, announced plans to launch a crypto trading pilot. The bank unveiled its digital asset custody platform in November 2023.

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