Yesterday Securitize said it acquired MG Stover‘s fund administration service, without disclosing the terms. With the acquisition, Securitize Fund Services now administers $38 billion in assets across 715 funds.
“Securitize’s acquisition of MG Stover’s Fund Administration business cements our role as the most comprehensive platform for institutional grade real-world asset tokenization and fund administration,” said Carlos Domingo, Co-Founder & CEO of Securitize. “This is a significant step in our growth, reinforcing our commitment to expanding our capabilities as we serve an ever-expanding cohort of asset issuers and investors.”
The tokenization firm already offers a broad range of services through various subsidiaries. Apart from tokenization and primary issuance, it also operates a transfer agent and has broker-dealer and ATS licenses for secondary market trading. Last year, it unveiled a lending service using tokenized collateral, and soon it plans to launch its own blockchain, Converge, in collaboration with stablecoin issuer Ethena. Together they aim to provide the settlement layer for real world asset (RWA) tokenization. Hence, it will provide an end-to-end solution across its various subsidiaries.
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