Finance, Venture Capital, Oracle Networks, Tokenization, Tokenized Assets Blockchain oracles like Chronicle are key piece of infrastructure to attach blockchain-based belongings with off-chain information.
Chronicle, a blockchain information supplier targeted on tokenized belongings, introduced on Tuesday that it has raised $12 million in a seed funding spherical.
The funding was led by Strobe Ventures, previously referred to as BlockTower Capital. Other backers embrace Galaxy Vision Hill, Brevan Howard Digital, Tioga Capital and Fenbushi Capital, alongside notable crypto angel traders equivalent to Rune Christensen (Sky/MakerDAO founder), Andre Cronje (founding father of Sonic and Yearn), Stani Kulechov (founding father of Aave), Mark Phillips (co-founder of Steakhouse) and Sam MacPherson (co-founder of Phoenix Labs).
Chronicle operates as an oracle community, providing real-time information verification for tokenized monetary merchandise. It has processed greater than $20 billion in complete worth secured (TVS) since its launch in 2017 and is increasing its infrastructure to fulfill rising demand. The firm just lately rolled out its “Verified Asset Oracle,” which ensures the authenticity of off-chain belongings for issuers equivalent to Centrifuge, Superstate and M^0.
“As banks and asset managers accelerate tokenization initiatives, Chronicle’s trusted data infrastructure provides the reliability and compliance capability these institutions require,” mentioned Thomas Klocanas, common associate at Strobe Ventures.
The demand for real-world asset (RWA) tokenization is rising, as international banks and asset managers more and more use blockchain rails for transferring conventional monetary devices. Tokenized belongings may change into a multitrillion-dollar market by 2030, stories by McKinsey, Boston Consulting Group and others projected.
Chronicle goals to faucet into that rising demand by integrating off-chain information with blockchain-based belongings by making certain information safety, auditability and cost-efficiency by way of a community of validators, together with established monetary information suppliers and crypto-native organizations like Sky, previously MakerDAO.
The firm mentioned it is going to use the brand new capital to advance product improvement, develop partnerships, and strengthen compliance measures, reinforcing its position as a bridge between conventional finance and digital belongings.
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