Allfunds Solana expansion will open a blockchain route for tokenized funds across a platform serving more than 3,300 asset managers.
Allfunds Blockchain, the tokenization unit of Allfunds, a fund distribution platform serving more than 3,300 asset managers and financial institutions with about $2 trillion under administration, said on June 23 that it will expand tokenized fund distribution to Solana.
The expansion is aimed at giving asset managers and transfer agents on Allfunds access to new distribution channels through Solana‘s infrastructure, the announcement reads.
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The company pointed out that issuers will have the opportunity not only to launch tokenized funds via traditional institutional processes but also via on-chain channels.
Rubén Nieto, head of Allfunds Blockchain, said the Solana expansion moves tokenization beyond pilots as by leveraging the network, tokenization “moves out of the tech lab and enters the commercial mainstream.”
Solana Gets Fund Platform Link
Per the announcement, implementation will be supported by ioBuilders, a blockchain infrastructure firm, through Asseto, its platform that connects Allfunds Blockchain, Allfunds’ tokenization unit, with on-chain environments.
Allfunds said that Asseto will be used to manage tokenized funds based on compliance procedures. In addition, eligible assets will be vetted by Particula, a risk analytics firm, through a risk assessment process.
The announcement doesn’t give a launch date or name specific funds moving to Solana, though.
Data from RWA.xyz, a tokenized asset data platform, shows more than 2,000 tokenized assets are already deployed on Solana as of press time, with nearly $3 billion in distributed RWA value and more than $15.6 billion in stablecoin market capitalization.
