1 year ago
Securitize's purpose is to let RIAs to connection their clients tokenized investments successful alternate assets classes specified arsenic backstage equity, backstage credit, secondaries and existent estate.
As good arsenic a motion of the ongoing intertwining betwixt accepted markets and integer assets, the acquisition whitethorn bespeak consolidation among startups successful these sectors.
Asset tokenization steadfast Securitize has acquired integer plus wealthiness level Onramp Invest to widen its offering to registered concern advisors (RIAs).
The acquisition is expected to adjacent successful the coming days and presumption of the transaction person not been disclosed, according to an emailed announcement connected Thursday.
Onramp volition run arsenic a subsidiary of Securitize and to integrate Securitize products into its existing service.
Securitize's purpose is to let RIAs to connection their clients tokenized investments successful alternate assets classes specified arsenic backstage equity, backstage credit, secondaries and existent estate.
"Onramp already offered RIAs casual entree to integer assets, truthful it is simply a precise earthy hold to connection them tokenized alternate assets to complement their portfolios,” Securitize CEO Carlos Domingo said successful a statement.
As good arsenic a motion of the ongoing intertwining betwixt accepted markets and integer assets, the acquisition whitethorn beryllium an denotation of expanding consolidation among startups successful these sectors.
"With exertion valuations importantly down and VC concern drying up, determination is present a caller accidental for companies with a beardown equilibrium expanse and a increasing business, similar Securitize, to accelerate the digitization of concern and our relation successful driving it," Domingo told CoinDesk.
Edited by Parikshit Mishra.
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