Securitize buys MG Stover's fund administration service for tokenization purposes
In the rapidly evolving world of digital asset fund administration, Apex Group has emerged as a clear frontrunner. The Swiss-based group, which manages over $3.5 trillion in assets globally, has solidified its position through strategic acquisitions and partnerships that have set it apart from competitors like Securitize.
Apex's dominance in the sector is evident in its acquisition of Tokeny, a specialist tokenization platform, and the operation of its Digital 3.0 platform for end-to-end token issuance and administration. This technological prowess is demonstrated in high-profile partnerships, such as the recent $300 million hedge fund tokenization for SkyBridge Capital on the Avalanche blockchain.
In contrast, Securitize, while a significant player in the digital asset space, appears to trail behind Apex in terms of market size and partnerships of comparable scale. However, Securitize has made strides in expanding its services and market presence.
Securitize offers a comprehensive suite of services, including tokenization, primary issuance, transfer agent services, broker-dealer, and ATS licenses for secondary market trading. The company has grown its assets under administration to $38 billion across 715 funds, following acquisitions such as MG Stover's fund administration service and its transfer agency business in 2022.
With these acquisitions, Securitize claims to be the largest digital asset fund administrator. However, the company's market position in comparison to Apex remains less clear, with Apex's acquisitions and high-profile partnerships indicating a stronger market position at this time.
Despite Apex's lead, the battle between these two giants in the digital asset fund administration sector is far from over. As the convergence between TradFi and DeFi continues to accelerate, both Securitize and Apex, along with other players, are poised to shape the future of this dynamic industry.
Sources: 1. Ledger Insights (various dates)
- Apex Group's advantage in the digital asset fund administration sector is augmented by its acquisition of Tokeny, a tokenization platform, and the operation of its Digital 3.0 platform, showcasing its blockchain technology.
- Securitize, while trailings Apex in terms of market size and partnerships of comparable scale, boasts a comprehensive suite of services that includes tokenization, primary issuance, and transfer agent services, among others.
- As the battle between Securize and Apex continues in the digital asset fund administration sector, both companies, alongside other players, are set to leverage technology to shape the future of this industry amidst the accelerating convergence of TradFi and DeFi.
