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SkyBridge Capital plans to achieve $300 million in asset tokenization on Avalanche.
PANews August 19 news, Anthony Scaramucci’s investment company SkyBridge Capital announced plans to tokenize approximately $300 million in assets and deploy them to the Avalanche Blockchain. This fund accounts for about 10% of the assets managed by SkyBridge, including funds focusing on Bitcoin and other non-security Crypto Assets. The tokenization will be completed through the partner 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 has nearly $2 billion in assets, and SkyBridge hopes to promote the integration of traditional finance with blockchain technology through this tokenization, while demonstrating the advantages of blockchain in terms of cost savings.