Odaily Planet Daily News: Grove, a credit protocol in the Sky ecosystem (formerly the MakerDAO ecosystem), announced on Monday that it will expand to the Avalanche blockchain network and plans to allocate up to US$250 million in funds to tokenized credit products.
According to the announcement, Grove will invest in the Anemoy AAA CLO fund (JAAA) issued by Janus Henderson through the blockchain tokenization platform Centrifuge. As a top global asset management company with $373 billion in assets under management, Janus Henderson's move is one of the largest attempts by traditional financial institutions to enter the Avalanche Real World Asset (RWA) ecosystem. Centrifuge will also launch the Janus Henderson Anemoy Treasury Fund (JTRSY) backed by U.S. Treasuries. The protocol plans to replicate this model in the structured credit sector, providing crypto-native and traditional investors with programmable channels to enter the trillion-dollar market. (Coindesk)