TechFlow news, September 13 — According to Cointelegraph, digital asset management firm ParaFi Capital announced it will tokenize a portion of its $1.2 billion portfolio on the Avalanche blockchain and conduct trading via the Securitize platform. This marks ParaFi Capital's official entry into fund tokenization. Ben Forman, founder of ParaFi Capital, said: "We’ve decided to practice what we preach. As investors in this technology, we’re not only investing in tokenization infrastructure—we’re now implementing it ourselves."
ParaFi Capital has previously invested in both Securitize and Avalanche. In August 2023, ParaFi closed a $120 million funding round with investors including Theta Capital Management and Accolade Partners. According to Dune Analytics data, as of September 11, 2023, the global market capitalization of tokenized securities exceeded $1.6 billion, an 11% increase from the previous period. Citibank predicts that by 2030, the global tokenized asset market could reach $5 trillion.
