Asset tokenization firm Securitize has acquired digital asset wealth platform Onramp Invest to extend its offering to registered investment advisors (RIAs).

The acquisition is expected to close in the coming days and terms of the transaction have not been disclosed, according to an emailed announcement on Thursday.

Onramp will operate as a subsidiary of Securitize and to integrate Securitize products into its existing service.

Securitize’s aim is to allow RIAs to offer their clients tokenized investments in alternative assets classes such as private equity, private credit, secondaries and real estate.

“Onramp already offered RIAs easy access to digital assets, so it is a very natural extension to offer them tokenized alternative assets to complement their portfolios,” Securitize CEO Carlos Domingo said in a statement.

As well as a sign of the ongoing intertwining between traditional markets and digital assets, the acquisition may be an indication of increasing consolidation among startups in these sectors.

“With technology valuations significantly down and VC investment drying up, there is now a new opportunity for companies with a strong balance sheet and a growing business, like Securitize, to accelerate the digitization of finance and our role in driving it,” Domingo told CoinDesk.

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