#RED

🔥REDSTONE🔥 Token skyrockets 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 of the caliber of Apollo, BlackRock, Hamilton Lane, and KKR.

This partnership represents a significant advancement for the real-world 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, Chief Operating Officer 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 incorporation of on-chain finance. Kazmierczak particularly noted that oracle sources will provide a way to connect the funds issued by Securitize to DeFi protocols like 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.