Securitize has acquired the fund administration division of MG Stover, a move that scales up its digital asset fund services business.
The acquisition boosts Securitize Fund Services’ assets under administration to $38 billion across 715 funds, placing it among the largest fund administrators focused on tokenized assets.
The deal excludes MG Stover’s broader operations, which remain under PolySign, the company that acquired MG Stover in 2022.
Securitize said the acquisition upgrades its ability to serve digital asset managers by combining traditional fund administration with blockchain-native infrastructure. The expanded platform will offer tools for tokenizing real-world assets (RWAs) and raising capital via tokenized securities.
“This acquisition cements our role as the most comprehensive platform for institutional-grade real-world asset tokenization and fund administration,” Securitize CEO Carlos Domingo said. “It reinforces our commitment to supporting asset issuers and investors as the market for tokenized assets matures.”
The move follows Securitize’s recent integration of RedStone as a data oracle to support tokenized fund access through decentralized finance. The company has already worked with major institutions, including BlackRock and KKR, to bring their funds onchain.
Based in Denver, MG Stover provides fund administration for hedge funds, venture capital, private equity, and crypto-focused funds. With its team now absorbed into Securitize, the combined unit will continue building infrastructure to bridge traditional capital markets with tokenized finance.
Securitize previously partnered with BlackRock to tokenize the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), which crossed $1 billion in assets under management in March.
In December, Securitize appointed Michael Sonnenshein, former chief executive of Grayscale Investments, as chief operating officer. His new role followed several months advising fintech and blockchain firms after stepping down from Grayscale in May 2024.
Sonnenshein’s tenure at Grayscale included the launch of the Grayscale Bitcoin Trust (GBTC), which became the first publicly traded Bitcoin fund to be converted into an exchange-traded fund (ETF) in January 2024.
Sonnenshein, who recently served at Finance, Stocktwits, Arch, Sodot, and Aptos Labs, said he will prioritize relationships with asset managers while overseeing marketing, sales, and distribution efforts. The Wall Street Journal reported that the company aimed to hire an executive with expertise in both traditional financial services and digital assets.