Reported by Coindesk, Tokenized real-world asset (RWA) marketplace Untangled Finance went live Wednesday on the Celo network after securing a $13.5 million venture capital boost to bring tokenized private credit to the blockchain.
The lead investor was London-based asset management firm Fasanara Capital, which has also opened two credit pools on the platform, handling off-chain operations and underwriting loans.
Untangled also announced plans to expand to Ethereum (ETH) and layer 2 network Polygon (MATIC) via Chainlink’s (LINK) Cross Chain Interoperability Protocol, making the platform a multichain and interoperable RWA credit protocol.
Untangled provides infrastructure to host blockchain-based credit pools, where investors – in this case, certified investors, firms, and decentralized autonomous organizations (DAOs) – deposit funds to lend and earn a yield. Depositors receive an ERC-20 token that represents their positions.
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