Source: Cointelegraph Original: "{title}"

The reality world asset (RWA) tokenization company Securitize has chosen RedStone as its main oracle provider for tokenization products, including BlackRock's dollar institutional digital liquidity fund (BUIDL) and Apollo's diversified credit securitization fund (ACRED).

According to an announcement on March 12, RedStone will provide price data for Securitize's current and future tokenization products. As an oracle service provider focused on DeFi, RedStone will expand the use cases of BUIDL and ACRED to include money market exchanges and collateralized DeFi platforms, Securitize stated.

RedStone provides cross-chain data services for decentralized finance protocols on Ethereum, Avalanche, and Polygon. According to DefiLlama, RedStone has accumulated a total value locked of $4.3 billion for all its clients.

As of March 11, RedStone's total collateral value. Source: DefiLlama

Institutional interest in tokenized assets is growing

In July of this year, RedStone raised $15 million in a Series A funding round led by Arrington Capital, with participation from institutions such as Spartan, IOSG Ventures, and HTX Ventures.

RedStone's Chief Operating Officer Marcin Kazmierczak stated in a written statement to Cointelegraph that Securitize chose RedStone as its oracle provider because of its "modular design," which means it "can scale to thousands of chains and support new implementations within days."

He noted that by using RedStone's oracle price data, Securitize's funds "can now be utilized in DeFi protocols like Morpho, Compound, or Spark."

The private credit market is valued at $12.1 billion, accounting for 68% of the tokenized RWA market. Source: RWA.xyz

Independent data from Security Token Market shows that by the end of 2024, over $50 billion in assets will have been tokenized, with most coming from real estate.

In recent years, the tokenization market has attracted many significant players, with companies like Ondo Finance, Tradable, and Brickken joining the space.

Related: Ondo Finance launches an institutional layer-1 blockchain for tokenizing real-world assets (RWAs)

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