Kingdom Trust, a known custodian that has over $13 billion worth of assets is planning to roll out about 20,000 assets in tokens.
Kingdom Trust, a custodian company located in South Dakota is considering joining the tokenization sector.
In an address, Ryan Radloff, CEO of Kingdom Trust revealed the intention when he said: “If you look beyond just Bitcoin, at the clash of alternative assets like REITs, gold, land, and other things that Kingdom custodies, this is a prime environment for the clash between blockchain technology, tokenization of assets, and the 20000 assets that we currently hold.”
Kingdom Trust’s capability to do this
Radloff believes that Kingdom Trust is in a good position to tokenize over 20,000 assets at this time. He considers the large number of users the company has and their wealth of experience as vital to take the next move.
“Besides Bitcoin, we’ve got 20,000 other assets that we already custody, and we hold 13 billion dollars of other assets right now.”
Furthermore he added:
“This is not just like some startup company kind of testing the waters with Bitcoin — this is a 13 billion dollar custodian that holds billions of dollars for institutions and for retirement accounts, and Bitcoin is the single fastest-growing part of our business.”
“Most of these other security token platforms, they either try to launch without users, or they try to launch without assets and hope that they can tokenize stuff along the way and gain users at the same time.”
The CEO believes that at this point of success which they now enjoy, making this move is only a step in the right direction. He insists that if other companies who do not even have half of what his company enjoys can think of tokenization, then Kingdom Trust is already qualified to do so.
Cautious and not in a rush
Although they want to be the leaders in the tokenization industry, Radloff is still not going to execute his plans yet until there is a tokenization platform that is widely acknowledged. Furthermore, he stated that they will start little by little until they take over the industry. He said:
“When I look at the tokenization market, it’s more looking at who is gaining the most momentum, because I think that a network effect is going to take place in the tokenization and digitalization of assets”