Skybridge Capital to Tokenize $300 Million Hedge Funds on Avalanche Blockchain
Skybridge Capital has made a groundbreaking announcement today, revealing plans to tokenize $300 million of its flagship hedge funds on the Avalanche blockchain network. This strategic move is a result of a collaboration with Tokeny, a leader in enterprise-grade tokenization, and its parent company, Apex Group Ltd., a global financial services provider managing over $3.5 trillion in assets.
Anthony Scaramucci, the Founder & CEO of SkyBridge Capital, expressed his enthusiasm for this innovative initiative, stating, “Tokenizing our funds on Avalanche, with the support of Tokeny and Apex Group, signifies a significant advancement in modernizing the alternative investment landscape.” Scaramucci, a former Goldman Sachs executive and White House Communications Director, is well-known for his expertise in alternatives and digital assets, with extensive connections in the financial industry.
As part of the agreement, SkyBridge will tokenize its Digital Macro Master Fund Ltd and Legion Strategies Ltd using the proven ERC-3643 standard, alongside the operational infrastructure provided by Apex Group’s Digital 3.0 platform. This comprehensive solution streamlines the investment process for institutional clients, facilitating the transition to blockchain-based operations with capabilities for creation, issuance, administration, and distribution.
Daniel Coheur, Global Head of Digital Assets at Apex Group and Co-Founder of Tokeny, highlighted the significance of this milestone, emphasizing how Apex Group and Tokeny are removing operational and technological barriers to institutional tokenization. He noted, “SkyBridge’s tokenization on Avalanche demonstrates that with the right technology, trusted operators, and regulatory clarity, large-scale tokenization is not only feasible but actively underway.”
Avalanche was chosen for its institutional-grade architecture, offering the necessary transaction speed and near-instant finality required for extensive tokenization efforts. As a leading blockchain for real-world assets (RWAs), Avalanche’s expanding institutional ecosystem already supports regulated offerings in tokenized money market funds, private credit, and more. Its EVM compatibility and scalability make it an ideal foundation for bringing traditional assets onto the blockchain, unlocking new distribution channels and utility.
John Wu, President of Ava Labs, praised the collaboration with Tokeny, Apex Group, and SkyBridge, describing it as a pivotal moment for institutional adoption of tokenization. He stated, “SkyBridge Capital’s leadership and industry connections validate Avalanche’s position as the premier platform for capital connectivity.”
This partnership combines cutting-edge technology, robust infrastructure, and institutional credibility, paving the way for accelerated adoption of RWAs across hedge funds, private credit, and multi-strategy vehicles. The integration of tokenization into traditional finance signifies a shift towards more transparent, liquid, and accessible investment solutions, bridging the gap between traditional finance and blockchain technology.
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