SkyBridge Capital, the investment firm founded by Anthony Scaramucci, said it will move roughly $300 million of assets onto the Avalanche blockchain as part of a broader push to bring traditional funds on-chain
SkyBridge Capital, the investment firm founded by Anthony Scaramucci, said it will move roughly $300 million of assets onto the Avalanche blockchain as part of a broader push to bring traditional funds on-chain.
The initiative will tokenize stakes in SkyBridge’s Digital Macro Master Fund Ltd and Legion Strategies Ltd. The assets will be issued under the ERC-3643 token standard and distributed through Apex Group’s tokenized-asset platform, according to a statement cited by Fortune.
SkyBridge joins a growing list of asset managers exploring blockchain-based fund administration as they seek faster settlement and broader investor access. No launch date was disclosed, but the firm said the migration will begin once regulatory and technical preparations are complete.
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Source: https://thedefiant.io/news/defi/skybridge-capital-tokenizes-300-million-fund-assets-on-avalanche-06239247