Tokenization Firm Securitize Acquires MG Stover’s Digital Asset Fund Administration Unit

Securitize Acquires MG Stover’s Fund Administration Business to Become Largest Digital Asset Fund Administrator

Securitize, a leading tokenized asset issuer, announced on Tuesday that it has completed the acquisition of MG Stover’s fund administration business. This strategic move has solidified Securitize Fund Services (SFS) as the largest digital asset fund administrator in the market.

Under this acquisition, MG Stover’s experienced team will now operate under SFS, thereby enhancing the company’s institutional-grade offerings. This development was detailed in a press release issued by Securitize.

With this new addition, SFS now manages a total of $38 billion in assets under administration across 715 funds. Notably, this includes overseeing Securitize’s tokenized fund offerings, such as BlackRock’s $2.45 billion tokenized U.S. Treasury fund (BUIDL). Securitize now provides a comprehensive suite of services, including fund administration, token issuance, brokerage, transfer agency, and an alternative trading system (ATS).

This acquisition reflects the increasing consolidation within the digital asset infrastructure sector, where companies are striving to develop compliant platforms that mirror traditional finance but operate on blockchain technology. For asset managers, this means they can issue tokenized securities, administer them, and facilitate trading seamlessly within the ecosystem.

Carlos Domingo, the co-founder and CEO of Securitize, expressed his enthusiasm about the acquisition, stating that it “cements our role as the most comprehensive platform for institutional-grade real-world asset tokenization and fund administration.”

Asset tokenization is currently one of the fastest-growing segments in the digital asset industry, with global financial institutions and banks increasingly adopting blockchain technology for asset management and transactions. A joint report by BCG and Ripple projected that the tokenized asset market could reach $18 trillion by 2033. However, this rapid growth also poses operational risks, as highlighted in a report by Moody’s.

The acquisition of MG Stover’s fund administration business by Securitize underscores the company’s commitment to providing cutting-edge solutions for institutional investors in the digital asset space. This move is expected to further accelerate the adoption of tokenized assets and streamline fund administration processes in the evolving financial landscape. Bullish Group, a company majority owned by Block.one, has significant interests in various blockchain and digital asset businesses, as well as substantial holdings of digital assets, including bitcoin. CoinDesk, an independent subsidiary of Bullish Group, is committed to journalistic integrity and has established an editorial committee chaired by a former editor-in-chief of The Wall Street Journal.

The collaboration between Bullish Group and Block.one creates a powerful force in the blockchain and digital asset industry. With their combined expertise and resources, they are well-positioned to drive innovation and growth in this rapidly evolving space. Their investments in blockchain technology and digital assets demonstrate their confidence in the future of this industry.

CoinDesk, as a trusted source of news and information in the blockchain and digital asset sector, plays a crucial role in providing accurate and timely coverage of market developments, trends, and insights. The editorial committee ensures that CoinDesk maintains high standards of journalistic integrity and upholds the principles of transparency and accuracy in its reporting.

As the blockchain and digital asset industry continues to expand and mature, Bullish Group, Block.one, and CoinDesk are poised to play a leading role in shaping its future. Their combined expertise, resources, and commitment to excellence make them key players in this dynamic and fast-growing sector.Investors and enthusiasts can look forward to exciting developments and opportunities in the blockchain and digital asset space, driven by the innovative and forward-thinking approach of Bullish Group, Block.one, and CoinDesk. Could’ve sworn the page was around here somewhere…

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