RWA startup Zoth raises $4m to launch tokenized liquid note

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As a seasoned researcher with a penchant for all things fintech and blockchain, I find the recent development surrounding Zoth particularly intriguing. Having spent years delving into the complexities of traditional finance and decentralized systems, I am enthused by Zoth’s ambitious endeavor to bridge the gap between these two worlds.

In a strategic funding round, the real-world asset company Zoth secured $4 million. This investment will facilitate the launch of their Tokenized Liquid Note product, which includes financial instruments such as U.S. Treasury Bills and corporate bonds.

In simpler terms, the startup Zoth, which focuses on bringing traditional financial assets into the decentralized world, has raised a strategic investment of $4 million. This funding will help them develop and release digital equivalents of conventional fixed-income securities onto the blockchain.

As a researcher reporting on recent developments, I am excited to announce that our startup based in Singapore has secured funding from a diverse group of investors. This round of funding includes Taisu Ventures, G20, Fat Cat Ventures, GemHead Capital, and Foundership Ventures, among other notable backers. This investment will significantly boost our capabilities and propel us towards our goals within the cryptocurrency industry.

Zoth’s CEO, Pritam Dutta, spoke about the funding, explaining that their goal is to construct a comprehensive crypto yield platform for consistent returns. This will be achieved by utilizing on-chain, permissioned Resource Allocation Wrappers (RAWs) and decentralized finance (DeFi) fixed-yield products. According to the press release, the company has already invested $13 million in private credit, and has originated over $100 million with another $200 million set for deployment.

Crypto business bets on RWA

As a researcher, I am delving into the world of digital assets, focusing on Zoth – a groundbreaking platform established by Pritam Dutta and Koushik Bhargav in 2023. Our mission is to evolve into a versatile crypto yield layer, catering to institutional and accredited investors, offering them seamless access to secure and long-term fixed-income products within the realm of blockchain technology.

Beyond the recent financing, the startup previously garnered $2.5 million during a seed round, with Blockchain Founders Fund taking the lead, and other investors like Borderless Capital, Mindfulness Capital, YAP Capital, Singularity DAO, and Wormhole joining in. Additionally, Zoth was recognized by Ripple‘s XRPL Accelerator in June, making it one of 18 startups chosen to aid in the expansion of their projects on the XRP Ledger.

Apart from Ripple, Zoth has also teamed up with several other entities like Chainlink, Celo, XDC, and Funfair Ventures for the purpose of connecting liquidity between conventional banking and DeFi.

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2024-08-05 16:16