Cryptoeconomics

News, data and analysis on tokenized assets, market design and digital economic systems.

Protocol

Wormhole

Cross-chain messaging protocol whose Guardian network of 19 validators signs transfer approvals valid at a 13-of-19 threshold, a quorum Securitize made an operational dependency of tokenized funds when it adopted the protocol in January 2025.

Kind Protocol
Jurisdiction Global
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The profile

Cross-chain messaging protocol whose Guardian network of 19 validators observes messages emitted by its core contracts on each connected chain and signs Verifiable Action Approvals, which are valid at a 13-of-19 threshold; delivery is handled by a permissionless Executor framework in which providers quote for the job rather than by a designated relayer. It connects more than 45 blockchains and reports $68bn of transfer volume since launch. Securitize adopted it on 28 January 2025 as its primary interoperability layer, using Wormhole's messaging with Securitize's own contracts so that share classes of tokenized funds (including BlackRock's BUIDL, which held $642.2m on 27 January 2025, and Apollo's ACRED) can move between networks. That makes the Guardian quorum an operational dependency of institutional tokenized funds, and one of the clearest cases where a fund's transfer risk sits outside the fund's own administrator.

Products and services

Guardian network and VAAs
19 validators attest to observed messages, with 13 signatures required before a Verifiable Action Approval can be redeemed on the destination chain.
Native Token Transfers
Framework letting an issuer keep one canonical token across chains by minting and burning rather than issuing wrapped representations.
Portal
Application front end for transfers and swaps between connected chains, built on the same messaging layer.

Coverage

Developments in which Wormhole is a named party, newest first.

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