REDSTONE ON FIRE! Token surges 25% after partnership with Securitize and Wall Street giants
#SECURITIZE chooses #RedStone as key data provider for giants like #BlackRock and Apollo.
The institutional tokenization firm Securitize has selected RedStone as its primary data provider for its current and future products, issued by companies such as Apollo, BlackRock, Hamilton Lane, and KKR.
This partnership represents a significant advancement for the real asset sector #RWA , as RedStone will provide essential oracle data for Securitize's smart contracts.
"Previously, Securitize did not use oracles, as tokenized funds like BlackRock BUIDL were not used in DeFi," said Marcin Kazmierczak, COO of RedStone, to The Block in a message. "It was simply a tokenized representation of the fund on-chain, without any functionality".
In other words, the integration of RedStone facilitates the integration of onchain finance. Kazmierczak particularly noted that oracle sources will provide a way to connect the funds issued by Securitize to DeFi protocols such as Compound, Morpho, and Spark.
In particular, RedStone will be the eyes and ears of the Apollo Diversified Credit Securitize Fund (ACRED), the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), and Hamilton Lane's Senior Credit Opportunities Fund (SCOPE), among other institutional offerings.