Bank of New York Mellon Corp.and Securitize Inc. have partnered to bring collateralized loan obligations onto the blockchain, the latest example of traditional Wall Street businesses moving onto a system built for cryptocurrency.
The Securitize Tokenized AAA CLO Fund, which launches on Wednesday, is dedicated to CLOs with top-notch credit ratings. It will be represented by a token on the Ethereum blockchain and BNY will custody the assets.
The tokenization trend kicked off with money-market funds, such as BlackRock Inc.’s BUIDL. But as interest rates started to decline, the industry has lately moved onto other, higher-yielding assets to ...
