Apollo Launches Its First On-Chain Tokenized Fund In Partnership With Securitize

The Apollo Diversified Credit Securitize Fund (ACRED) marks the first integration for Securitize with the Solana blockchain and Kraken's layer-2 network, Ink.

The U.S. asset management firm Apollo has launched its first on-chain tokenised fund in partnership with Securitize.

The Apollo Diversified Credit Securitize Fund (ACRED) marks the first integration for Securitize with the Solana blockchain and Kraken’s layer-2 network, Ink. The tokenised fund will also be available on Ethereum, Aptos, Avalanche and Polygon from the first day of launch.

Apollo, which has more than $700 million in assets under management, is making its first foray into real-world asset tokenisation, following in the footsteps of the likes of BlackRock, a major investor in Securitize, and Franklin Templeton, among others.

The token becomes the first public on-chain offering for accredited investors of Apollo. Securitize is leveraging its partnership with Wormhole to deploy Apollo’s tokenised fund across multiple blockchains.

Explaining the reasons for choosing the Apollo Diversified Credit Fund for the firm’s first tokenised fund, Christine Moy, a partner leading digital assets, data and AI strategy at Apollo, told CoinDesk the fund’s daily subscription and daily net asset value (NAV) structure is well suited for blockchain-based markets.

“For those that are trying to build a diversified portfolio on-chain, it serves as a higher yielding complement to stablecoins, tokenized treasuries and money market funds,” Moy said, adding: “But it’s also a diversifier to the more volatile crypto native yield products that are out there. So it can help complete the picture of the different assets you would need in an on-chain diversified portfolio.”