Grove has announced a landmark tokenization deal, deploying $50 million as the cornerstone investor for Apollo’s diversified credit strategy now live on the Plume blockchain.
Summary
- Grove has anchored $50 million in Apollo’s new tokenized credit fund (ACRDX) on Plume.
- The fund combines Apollo’s credit strategy with Centrifuge tokenization and Plume’s blockchain infrastructure.
- Available via Plume’s Nest Credit protocol, the product offers institutional investors blockchain-based access to diversified credit market
According to a press release shared with crypto.news on September 16, the institutional credit protocol Grove has deployed $50 million as the anchor investment into the newly launched Anemoy Tokenized Apollo Diversified Credit Fund ACRDX.
The fund, a collaborative effort between tokenization specialist Centrifuge and real-world asset blockchain Plume, serves as a tokenized feeder into Apollo’s flagship diversified credit strategy. The vehicle is purpose-built for Nest Credit, Plume’s institutional yield protocol, where it will be accessible to qualified investors under the ticker nACRDX.
How the tokenized fund aims to reshape credit access
Operationally, Centrifuge provides the core tokenization infrastructure, transforming shares of the Apollo Diversified Credit Fund into on-chain tokens, while Plume’s blockchain acts as the purpose-built settlement layer, hosting the fund with its native compliance and DeFi integration features.
The tokenized offering, nACRDX, is then made available through Nest Credit’s vault system, providing a familiar interface for institutional participants. This end-to-end collaboration is bolstered by Chronicle oracles, which ensure reliable on-chain data feeds, while Wormhole’s technology guarantees the fund’s cross-chain interoperability.
By combining Apollo’s investment expertise with Centrifuge’s tokenization framework and Plume’s infrastructure, the fund is pitched as a compliant and institution-ready product.
The launch comes at a time when demand for diversified yield strategies is rising, particularly in private credit markets that have been historically opaque and restricted to larger institutions. Tokenization, in this case, promises greater transparency and efficiency, while potentially lowering barriers for investors seeking exposure.
“As investors seek attractive yields and diversification, ACRDX not only serves as a solution providing exposure across global private and public credit markets, but also validates our mission that institutional-grade credit is a core pillar of the blockchain economy.” Sam Paderewski, Co-Founder of Grove Labs, said.
Grove bills itself as an institutional-grade credit infrastructure protocol designed to function as a liquidity engine for decentralized finance, allowing qualified investors to access yield. The team at Grove Labs, which includes co-founders with deep TradFi and DeFi expertise, claims to have facilitated more than $5 billion in on-chain capital allocations prior to this deal.
Source link