On June 25, according to Coindesk, the decentralized finance protocol Grove officially launched this Wednesday, focusing on building institutional-level credit infrastructure, and announced receiving a strategic investment commitment of $1 billion in tokenized assets. DeFi lending giant Sky will allocate $1 billion to the Grove protocol for investing in tokenized Collateralized Loan Obligations (CLOs).
The protocol aims to build a bridge between DeFi and traditional financial assets by introducing on-chain funds into regulated credit investments (focusing on Collateralized Loan Obligations CLOs). Grove's infrastructure allows crypto-native protocols and asset management companies to invest in real-world assets (RWA), thereby activating idle reserve funds and obtaining returns independent of the crypto market.
The protocol was incubated by DeFi professional institution Steakhouse Financial, which previously played a key role in introducing RWA to the Sky ecosystem.
