PANews reported on August 19 that Anthony Scaramucci's investment firm SkyBridge Capital announced plans to tokenize approximately $300 million in assets and deploy them on the Avalanche blockchain. This amount represents about 10% of SkyBridge's managed assets, including funds focused on non-securities cryptocurrencies like Bitcoin and other investment portfolio funds. The tokenization will be completed in partnership with Tokeny.
SkyBridge's move aligns with the recent trend of asset tokenization on blockchain by financial giants like BlackRock and Franklin Templeton.
The Avalanche network currently holds nearly $2 billion in assets, and SkyBridge hopes to promote the integration of traditional finance and blockchain technology through this tokenization, while also demonstrating the cost-saving advantages of blockchain.
