Hacken (CRYPTO: HAI), a blockchain security-focused token, rallied by 50% in a week. The surge comes as the token leverages the ongoing trend of Real-World Asset (RWA) and tokenization.

What Happened: The blockchain auditing firm announced its foray into RWA tokenization, enabling HAI token holders to convert their utility tokens to equity tokens. This exchange grants them a direct equity stake in Hacken Enterprise.

At the time of writing, Hacken was trading at $0.078, with $1.2 million in trading volume over the past 24 hours. The token’s market capitalization stands at $50 million.

Hacken’s website discloses that 10% of the company’s ownership is set for a swap against 100 million HAI tokens, in tandem with an 87% reduction in the token supply. The offer is limited to 100 slots, with 1 million HAI required for one slot.

This comes amid optimism in the wider cryptocurrency market and Bitcoin’s (CRYPTO: BTC) price rally which shows no signs of slowing down.

See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals

Why It Matters: It should be noted that financial industry titans are rallying behind a concept that they think could revolutionize investment: tokenization.  

Tokenization in blockchain circles refers to the digitization of assets on the blockchain, which provides verified transaction and ownership records. It opens up avenues for trading various assets such as stocks, real estate, or even collectibles like art, ensuring transparency through a public ledger.

Last month, Larry Fink, CEO of BlackRock, weighed in on tokenization, and its potential to redefine financial markets and securities. “The next generation for markets, the next generation for securities, will be tokenization of securities,” Fink said.

Fink hailed the technology for the prospect of “instantaneous settlement” and “reduced fees” it offers.

Price Action: At the time of writing, HAI was trading at $0.078, up 10.03% in the last 24 hours, according to Benzinga Pro.

Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?

Image via Shutterstock