10:33 AM EDT, 05/01/2024 (MT Newswires) -- BlackRock ( BLK ) led a $47 million funding round for Securitize that also included Hamilton Lane ( HLNE ) , Tradeweb Markets ( TW ) , and ParaFi Capital, Securitize said Wednesday.

Proceeds will be used to support product development, global footprint expansion, and partnerships across the financial services ecosystem, the company said.

As part of the investment, BlackRock's ( BLK ) global head of strategic ecosystem partnerships, Joseph Chalom, has been appointed to Securitize's board, Securitize added.

BlackRock's ( BLK ) investment coincides with its selection of Securitize as the transfer agent of its first tokenized fund issued on ethereum, Securitize said.

Price: 755.43, Change: +0.78, Percent Change: +0.10