Real-world asset tokenization firm Securitize appointed Michael Sonnenshein, formerly CEO of asset management company Grayscale Investments, as chief operating officer.

"There is massive demand for tokenization, and I am thrilled to join Securitize at such a pivotal moment for the company and the industry," Sonnenshein said in a Thursday <a href="https://www.prnewswire.com/news-releases/michael-sonnenshein-joins-securitize-as-chief-operating-officer-302330093.html" target="_blank">statement</a>. His appointment started on Dec. 9.

Tokenization is a booming sector at the intersection of digital assets and traditional finance. The process involves representing financial instruments like bonds, credit, commodities and other real-world assets on the blockchain in pursuit of operational efficiency, speedier settlements and cheaper transactions.

Securitize is a key service provider and marketplace in the field, with over $1 billion worth of tokenized instruments on its platform. The company jointly manages asset management behemoth BlackRock's tokenized money market fund BUIDL. BlackRock also <a href="https://www.coindesk.com/business/2024/05/01/rwa-tokenization-firm-securitize-raises-47m-led-by-fund-partner-blackrock" target="_blank">invested</a> in Securitize.

"Michael is a trailblazer whose strategic vision and ability to navigate complex regulatory landscapes have helped pave the way for establishing digital assets as a mainstream investment class," Carlos Domingo, CEO and co-founder of Securitize, said in a statement.

Sonnenshein's appointment followed his departure earlier this year from Grayscale, where he had served as CEO since 2021. During his tenure, the company was one of the firms to have a spot-based bitcoin ETF approved to list in the U.S. in January. Grayscale <a href="https://www.coindesk.com/policy/2023/10/23/grayscale-court-victory-over-sec-in-spot-bitcoin-etf-case-made-final/" target="_blank">had taken the Securities and Exchange Commission (SEC) to court</a> over the regulator's repeated refusal to allow it to convert its flagship, closed-end fund Bitcoin Trust (GBTC), then a closed-end fund, into an ETF.

Sonnenshein also <a href="https://www.coindesk.com/business/2024/11/25/former-grayscale-ceo-michael-sonnenshein-joins-aptos-labs-as-adviser" target="_blank">joined</a> Aptos Labs, developer organization of layer-1 blockchain Aptos (APT), as an adviser last month.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

84 +