Securitize, one of the largest tokenized asset issuers, said on Tuesday that it has acquired the MG Stovers Fund Administration, which makes its subsidiary Securitize Fund Services the largest administrator of the Digital Asset Fund.

MG Stovers Team will now operate under Securitize Fund Services (SFS) and improve the company’s offers in institutional quality, says the company.

With the acquisition, SFS is now overseeing $ 38 billion of assets under administration across 715 funds, including Securitize’s Tokenized Fund Services such as Blackrock’s $ 2.45 billion Tokenized US Treasury Fund (Buidl). Securitize now offers an integrated package of services: Fund Administration, Token Issuing, Broker Business, Transfer Tour and An Alternative Trade System (ATS).

DEAL signalizes growing consolidation in the digital asset infrastructure space, where companies are struggling to build compatible platforms that reflect traditional funding but live on Blockchain rails. For asset managers, this means they can issue tokenized securities, manage them and trade them – without leaving the ecosystem.

Carlos Domingo, co -founder and CEO of Securitize, said the acquisition “cementing our role as the most comprehensive platform of institutional quality in the real world tokenization and funding.”

Asset -tokenization is perhaps the fastest growing digital asset sector, as global traditional financing companies and banks are increasingly using blockchains to move and manage instruments such as foundations, bonds and credit. BCG and Ripple projected the tokenized asset market to reach $ 18 trillion in 2033. However, the rapid growth also comes with risks, including operational inexperience, according to a Moody’s report.

Read more: Tokenized Funds’ Fast Growth Comes With Red Flags: Moody’s