Securitize Acquires MG Stover’s Fund Administration to Lead in Digital Asset Management
Securitize, a prominent player in tokenizing assets, announced on Tuesday its acquisition of MG Stover’s fund administration operations, establishing Securitize Fund Services as the foremost digital asset fund administrator.
Key Information:
- The acquisition propels Securitize Fund Services to manage over $38 billion in assets across 715 funds, including BlackRock’s tokenized U.S. Treasury fund.
- This move showcases the increasing consolidation within the digital asset tokenization sector, aiming to provide a comprehensive suite of services.
Securitize stated that MG Stover’s team will continue under Securitize Fund Services (SFS), bolstering the firm’s institutional-grade offerings.
With the acquisition, SFS now administers $38 billion in assets over 715 funds and enhances its portfolio with services like fund administration, token issuance, brokerage, transfer agency, and an alternative trading system (ATS).
Carlos Domingo, co-founder and CEO of Securitize, remarked that the deal “cements [Securitize’s] role as the most comprehensive platform for institutional-grade real-world asset tokenization and fund administration.”
The rise in asset tokenization indicates its rapid growth, with firms across traditional finance increasingly looking to leverage blockchain technology for managing instruments like funds and bonds. According to projections, the tokenized asset market is anticipated to reach $18 trillion by 2033.
References: Tokenized Funds’ Rapid Growth Comes With Red Flags: Moody’s
