RWA tokenization company Securitize selects RedStone as its primary oracle provider

Real-world asset (RWA) tokenization company Securitize has selected RedStone as the primary oracle provider for its tokenized products

Real-world asset (RWA) tokenization company Securitize has selected DeFi-focused oracle provider, RedStone, as the primary oracle to support its tokenized products, including the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) and the Apollo Diversified Credit Securitize Fund (ACRED).

According to a March 12 announcement, RedStone will be delivering price feeds for current and future tokenized products offered by Securitize. As a DeFi-focused oracle provider, RedStone will purportedly expand the use cases of BUIDL and ACRED into money market exchanges and collateralized DeFi platforms, Securitize said.

The news follows a recent Series A funding round for RedStone, which saw the firm raise $15 million in July with contributions from Arrington Capital, Spartan, IOSG Ventures, HTX Ventures and others. The startup provides crosschain data feeds for decentralized finance protocols on Ethereum, Avalanche and Polygon. According to DefiLlama data, RedStone has $4.3 billion in total value secured across all clients.

“We are excited to be working with Securitize to bring their innovative tokenized funds to the broader DeFi ecosystem,” said Marcin Kazmierczak, chief operating officer at RedStone.

"With our modular design, we can scale to thousands of chains and support new implementations in a matter of days. This flexibility will be crucial as Securitize continues to expand its product offerings."

With the RedStone oracle price feeds, Securitize’s funds “can now be utilized across DeFi protocols such as Morpho, Compound or Spark,” Kazmierczak added.

Interest in tokenized assets is heating up

On March 8, Ondo Finance announced the launch of a tokenized version of the iShares ESG Aware U.S. Aggregate Bond ETF (NYSE:ESGE). The news comes as several firms are working on integrating tokenized assets in a bid to provide new financial products to a wider range of investors.

Earlier this year, the U.S. Securities and Exchange Commission approved the application from Harvest, a crypto-native firm, to launch an exchange-traded fund (ETF) that will hold bitcoin futures. The approval marks a significant step towards mainstream adoption of cryptocurrencies in the U.S.

“We are thrilled to be partnering with RedStone to expand the possibilities of our tokenized funds,” said Carlos Domingo, co-founder and CEO of Securitize.

"Their advanced technology and modular architecture will enable seamless integration with major DeFi protocols, unlocking new avenues for liquidity and investment.”