Real-world asset (RWA) tokenization firm Securitize has closed a $47 million funding round led by the world's largest asset manager BlackRock (BLK).

The round also included investments from Hamilton Lane (HLNE), ParaFi Capital and Tradeweb Markets (TW), Securitize announced on Wednesday.

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Securitize will use the funds to to expand its efforts in using blockchain technology to digitize capital markets.

BlackRock and Securitize last month teamed up to create the BlackRock USD Institutional Digital Liquidity Fund, which may prove to be geared toward RWA tokenization - the process of minting tokens to represent real-world assets such as equities, bonds and real estate and trading them on a blockchain.

As part of BlackRock's investment in Securitize, its global head of strategic ecosystem partnership Joseph Chalom will join the firm's board.

Edited by Stephen Alpher.

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