SkyBridge Capital Tokenizes $300 Million in Assets on Avalanche Blockchain

Investment firm SkyBridge Capital, led by Anthony Scaramucci, is set to tokenize approximately $300 million in assets and deploy them on the Avalanche blockchain. This represents about 10% of their assets under management and encompasses funds focused on non-securities cryptocurrencies like Bitcoin as well as other investment portfolios. The tokenization process will be conducted in collaboration with Tokeny. This move reflects a growing trend among financial institutions such as BlackRock and Franklin Templeton, who have recently explored asset tokenization on blockchain platforms.