According to ChainCatcher, the decentralized finance protocol Grove disclosed in its official blog that Securitize today announced the launch of the Securitize Tokenized AAA-rated CLO Fund (STAC), which focuses on tokenized investments in AAA-rated CLO tranches.
The fund is custodied by Bank of New York Mellon (BNY) and advised by its investment arm, Insight. Subject to governance approval, Grove will provide a $100 million pegged investment to STAC. Fund units will be issued in the form of Ethereum digital tokens, which eligible investors can subscribe to through the Securitize platform.
