The foundation behind the Avalanche (AVAX) blockchain will purchase $50 million of tokenized assets minted on the network, the foundation announced Tuesday.

The program called Avalanche Vista aims to bring more digital versions of traditional investment products, including equities, credit, real estate and commodities to the layer 1 blockchain.

Tokenization is one of crypto’s hottest trends this year, as traditional finance (TradFi) mainstays such as Franklin Templeton, as well as crypto native firms, offer more old-school financial assets – often tagged as real-world assets (RWA) in crypto jargon – like government bonds in the form of a blockchain-based token. Global business advisory firm Boston Consulting Group forecasted that the market for tokenized assets could mushroom to $16 trillion by 2030.

Read more: Tokenize Everything: Institutions Bet That Crypto’s Future Lies in the Real World

“Moving parts of the asset administration process on-chain allows issuers to have one workflow and one system of record, enabling a better, more seamless user experience for service providers and investors,” Siddhartha S, founder and CEO of structured finance platform Intain, said in the press release.

Ethereum, the largest smart contract platform, is the most popular network for tokenized assets, but smaller blockchains such as Stellar, Solana and Polygon also grab sizable market shares, according to real-world asset data platform rwa.xyz.

Avalanche is an Ethereum challenger smart contract platform offering faster transactions and scaling capabilities. It consists of smaller sovereign networks called subnets.

The tokenization fund follows the blockchain’s initiative for financial institutions to test and deploy blockchain-based services on one of its subnets. Asset management companies WisdomTree and T. Rowe Price were among the firms who joined the testing, CoinDesk reported in April.

Last September, investment giant KKR tokenized a part of its private equity fund with Securitize using the Avalanche network.