PANews reported on August 19th that SkyBridge Capital, the investment firm led by Anthony Scaramucci, announced plans to tokenize approximately $300 million in assets and deploy them on the Avalanche blockchain. This represents approximately 10% of SkyBridge's assets under management, including funds focused on non-securities cryptocurrencies like Bitcoin and other portfolio funds. The tokenization will be accomplished through its partner, Tokeny.

SkyBridge’s move follows a recent trend among financial giants such as BlackRock and Franklin Templeton to tokenize their assets on the blockchain.

The Avalanche network currently holds nearly $2 billion in assets. SkyBridge hopes to promote the integration of traditional finance and blockchain technology through this tokenization, while demonstrating the cost-saving advantages of blockchain.