Wormhole-backed tokenized assets touch $3B as Mercado Bitcoin readies to onboard $200M

Wormhole is emerging as a dominant player within the tokenized asset space, with the interoperability provider now servicing more than $3 billion worth of assets.

Data shared by Robinson Burkey, the co-founder of Wormhole, shows the value of Wormhole’s Multichain Tokenized Assets Under Management (MTAUM) has surged from less than $1B to $3.04 billion over the past seven weeks. Wormhole’s MTAUM is also up 340% year-to-date.

The milestone coincides with Mercado Bitcoin, the largest Brazilian cryptocurrency exchange, tapping Wormhole to provide interoperability functionality for more than $200 million worth of tokenized assets.

The partnership will see Mercado Bitcoin leverage Wormhole’s interoperability protocol to offer tokenized products across more than 30 blockchain networks.

“This partnership with Wormhole marks a pivotal step in our mission to democratize access to digital assets,” said Fabrício Tota, vice president of new business development at Mercado Bitcoin. “Wormhole… enables us to scale beyond regional boundaries and connect our tokenized asset ecosystem to a truly global, multi-chain environment.”

Wormhole MTAUM booms alongside tokenized treasuries

Wormhole’s ballooning MTAUM follows Securitize onboarding the firm as an interoperability provider for BlackRock’s tokenized treasury fund, BUIDL, and coincides with a recent boom in the tokenized treasury sector.

Securitize onboarded Wormhole in January, allowing BUIDL holders to transfer shares across the seven networks supported by the fund. The value of BUIDL’s assets under management is up more than 300% since posting a local low on January 22, tagging $2.56 billion on April 27, according to rwa.xyz.

Centrifuge, a real-world asset-focused Web3 project, also teamed up with Wormhole on April 9, bringing the Anemoy Janus Henderson (JTRSY) tokenized treasury fund into Wormhole’s ecosystem. HTSRY’s market cap currently sits at $221.1 million, up 543% from $34.4 million over the past four weeks.

Wormhole also secures Apollo Global’s tokenized private credit fund, ACRED, which boasts a $61.7 million market cap after launching in January.

“Institutions are coming ‘on-chain’, meaning all the chains, not just one,” Burkey said.

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