Avalanche secures US$11B tokenisation agreement

• Avalanche secured an agreement to support up to US$11 billion in tokenised real-world assets.
• BridgeTower plans to issue the assets on the Avalanche blockchain over several years.
• The companies said the partnership aims to expand institutional blockchain adoption.

Avalanche (CRYPTO:AVAX) will support up to US$11 billion in tokenised real-world assets under a new agreement with BridgeTower Capital.

BridgeTower said it plans to issue the assets on Avalanche over the coming years through its institutional tokenisation platform.

"This partnership marks another step in bringing institutional assets onchain," BridgeTower said.

The agreement covers tokenised financial assets, including private credit, real estate and other institutional investments.

The companies said the first phase is expected to include about US$2.1 billion in tokenised assets, subject to project timelines.

Avalanche has become a popular blockchain for tokenised real-world assets because of its low transaction costs and custom blockchain technology.

Tokenised real-world assets convert traditional financial assets into blockchain-based tokens that can improve settlement and trading efficiency.

At the time of reporting, Avalanche price was $6.67.