Skybridge Capital announced it will tokenize $300 million of its flagship hedge funds on the Avalanche blockchain network.
This initiative represents a collaboration with “enterprise-grade” tokenization leader Tokeny and its parent company, Apex Group Ltd., a global financial services provider servicing over $3.5 trillion in assets.
Anthony Scaramucci, Founder & CEO of SkyBridge Capital, said:
“Tokenizing our funds on Avalanche, supported by the technology and operational infrastructure of Tokeny and Apex Group, represents a significant step forward in modernizing the alternative investment landscape. We look forward to bringing our hedge funds into the digital, on-chain era, improving transparency, liquidity, and accessibility for our investors, and demonstrating how traditional finance and blockchain can work together to create smarter, more efficient investment solutions.”
A former Goldman Sachs executive and (very brief) White House Communications Director, Scaramucci has been an active “voice in alternatives and digital assets, with deep networks across pensions, sovereign wealth funds, and family offices.”
Under the agreement, SkyBridge will “tokenize its Digital Macro Master Fund Ltd and Legion Strategies Ltd leveraging the proven ERC-3643 standard with operational infrastructure delivered through Apex Group’s Digital 3.0 platform.”
The platform offers a so-called “single-source solution for the entire investment lifecycle, enabling institutional clients to transition their funds to blockchain-based rails with integrated capabilities for creation, issuance, administration, and distribution.”
Avalanche was selected for its institutional-grade architecture, “offering the transaction speed and near-instant finality required for large-scale tokenization.”
As a blockchain for real-world assets (RWAs), Avalanche’s expanding institutional ecosystem reportedly “hosts regulated offerings in tokenized money market funds, private credit, and more.”
The network’s EVM compatibility and scalability “make it an ideal foundation for bringing traditional assets on chain to unlock new distribution channels, utility, and blockchain-naive products and services.”
This collab brings together digital technology, so-called “enterprise-grade” infrastructure, and institutional credibility, which is considered to be a critical combination “for accelerating the adoption of RWAs across hedge funds, private credit, and multi-strategy vehicles.”
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