Newest 'Star' in Sky Ecosystem Launches With $1B Tokenized Credit Strategy
The protocol aims to bridge DeFi with traditional financial assets by routing on-chain capital into regulated credit investments, focusing on collateralized loan obligations (CLOs). Through its infrastructure, Grove gives crypto-native protocols and asset managers access to real-world asset (RWA) investments, helping them put idle reserves to work and a yield that's independent from crypto markets.
The launch also marks Grove's debut as the latest "Star" within the Sky Ecosystem, one of the largest and longest running DeFi lender formerly known as MakerDAO. Sky is undergoing an overhaul called Endgame that breaks the protocol into autonomous units called "stars," each responsible for its own governance and innovation at the edge of the ecosystem. The first such entity was Spark, a yield-earning and borrowing protocol. Sky also issues the $3.7 billion DAI and $3.4 billion USDS stablecoins, and has been increasingly shifting reserves to real-world assets such as tokenized Treasuries.
Grove starts out with a $1 billion allocation from Sky that will put into the Janus Henderson Anemoy AAA CLO Strategy (JAAA), a tokenized fund of managed by Janus Henderson and built on Centrifuge, a blockchain platform that specializes in real-world asset tokenization.
The core contributor team behind Grove — Mark Phillips, Kevin Chan and Sam Paderewski — had previous experiences at Deloitte, Hildene Capital Management, BlockTower Capital and Citibank before transitioning to DeFi. The protocol was incubated by DeFi specialist Steakhouse Financial, a firm that played a key role in bringing real-world assets into the Sky system.
"While tokenized treasuries have paved the way, there's a growing demand for more diversified, high-quality assets on-chain," said Anil Sood, chief strategy and growth officer of Centrifuge.
'With the launch of Grove, for the first time, protocols can access liquid, institutional-grade CLOs while maintaining the flexibility to pivot between DeFi and TradFi yield environments," said Sam Paderewski.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Newsweek
3 hours ago
- Newsweek
Bet365 Bonus Code WEEK365: Claim $150 Bonus For Cubs-Yankees, MLB, Any Game
The bet365 bonus code WEEK365 will unlock access to a $150 bonus for Cubs vs. Yankees and 14 other MLB games on Saturday. The bet365 bonus code WEEK365 will unlock access to a $150 bonus for Cubs vs. Yankees and 14 other MLB games on Saturday. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Get in on the action with the bet365 bonus code WEEK365 for Saturday's loaded MLB slate. Click here to start the sign-up process and get a $150 bonus offer or a $1,000 first bet safety net to use for games like Cubs-Yankees, Giants-Dodgers, Wimbledon, the Scottish Open and more throughout the weekend. All you have to do to activate the $150 bonus offer is place a $5 bet on any game. The $1,000 first bet safety net provides new users with the chance to start with an aggressive bet. You will have the flexibility to choose the way you want to start your account. The full slate of MLB games provides new users with plenty of chances to get their accounts off to a fast start. You can also choose from the Lynx-Sky and Valkyries-Aces WNBA games set to take place. Sign up before the games start to take full advantage of the bet365 welcome offer and additional in-app promos and boosts. bet365 Bonus Code WEEK365 For July 12 Games Bet365 Bonus Code WEEK365 New User Offer Bet $5, get $150 Bonus OR $1,000 first bet safety net In-App Promos MLB 30% SGP Boost, WNBA SGP Boost, MLB Daily Lineups, etc. Terms and Conditions New Customers - 21+ in Eligible States Bonus Last Verified On July 12, 2025 Information Confirmed By Newsweek As mentioned above, all you have to do to use the $150 bonus offer is place a $5 bet on any market. The outcome of that bet does not matter, and you will receive the bonus bets before your initial wager settles. For example, if you are a big Dodgers fan, you could bet $5 on them to beat the Giants and immediately get your bonus bets to use on other wagers across bet365. If you prefer to start with the more aggressive $1,000 first bet safety net offer, you will be able to wager up to that amount and get your stake back if your bet loses. So, you could wager something like $700 on the Dodgers to beat the Giants on Saturday. If your bet wins, you will secure a large payout. If your bet loses, you will get your $700 stake back in the form of a bonus refund. Either way, you will jumpstart your bet365 account at a good time, with the Wimbledon men's singles final and Club World Cup final both taking place on Sunday. In-App Offers at bet365 For July 12 After you take advantage of the welcome offer you prefer, you will be able to take advantage of additional in-app offers that provide boosts, early payouts and more. Check in at the beginning of each day to find the offers available for MLB games, WNBA games, soccer, tennis and more throughout the sports calendar. You can also go to a sport or individual game's page to see popular pre-made parlays that have boosted odds. How To Claim bet365 Bonus Code WEEK365 Offer Click here and enter the bonus code WEEK365 when setting up your new account to secure the welcome offer. You will need to provide basic personal information to secure your account. From there, just make an initial deposit to cover your first wager. This can be done with a credit card, debit card or several other secure options. Your initial wager will activate the welcome offer you prefer. Any bonus bets you receive will be valid for seven days before they expire. Newsweek may earn an affiliate commission if you sign up through the links in this article. See the sportsbook operator's terms and conditions for important details. Sports betting operators have no influence over newsroom coverage.
Business Insider
16 hours ago
- Business Insider
M&A News: Coinbase (COIN) Acquires Opyn Markets' Leadership Team in a Talent-Only Deal
Crypto-exchange Coinbase Global (COIN) has stepped up its push into decentralized finance (DeFi) by acquiring the leadership team of Opyn Markets in a talent-only deal. This move is part of Coinbase's belief that the future of financial markets will be built onchain, which is a system that operates directly on blockchain technology. By integrating more onchain infrastructure into its business, Coinbase plans to make markets faster, more transparent, and more accessible to everyone, from everyday traders to institutions. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. It is worth noting that Opyn's team brings valuable experience to the table. Indeed, they were early pioneers in DeFi who launched the first decentralized options protocol and created innovations like Power Perpetuals and Squeeth. As a result of their deep understanding of both blockchain technology and traditional market structures, they are a strong fit for Coinbase's vision. With this new talent onboard, Coinbase plans to speed up the development of features like Verified Pools, which is an onchain liquidity product designed to serve both retail and institutional users. While Coinbase is already a trusted name in centralized crypto trading, the company sees this acquisition as part of a much larger mission. Rather than treating its current success as the final goal, Coinbase is working to transition more of its exchange operations onchain. The addition of Opyn's leadership team is just another step in building the kind of financial system Coinbase believes is part of the future. Is COIN a Good Stock to Buy Now? Turning to Wall Street, COIN stock has a Moderate Buy consensus rating based on 14 Buys and 11 Holds. Furthermore, the average Coinbase price target of $307.93 implies 20.7% downside risk from current levels.
Business Upturn
18 hours ago
- Business Upturn
Remittix Achieves Major Milestone with Successful Certik Audit Ahead of Upcoming PayFi Launch
By GlobeNewswire Published on July 12, 2025, 03:00 IST KOSICE, Slovakia, July 11, 2025 (GLOBE NEWSWIRE) — Remittix , a rising decentralized finance (DeFi) project focused on seamless crypto-to-fiat payments, has successfully completed a comprehensive security audit conducted by Certik, a leading blockchain security firm. This achievement marks a key step toward the official launch of Remittix's PayFi infrastructure—a next-generation payment protocol designed to streamline crypto settlements directly to bank accounts. The Certik Audit , which found no critical vulnerabilities in Remittix's smart contracts, reinforces the project's commitment to secure and compliant development practices. The audit report provides public assurance to investors and ecosystem partners that the platform is built on a solid, tamper-resistant foundation. 'We are proud to announce the successful completion of our Certik audit, which validates the integrity of the Remittix ecosystem,' said a Remittix spokesperson. 'This milestone not only confirms the strength of our smart contract architecture but also paves the way for broader institutional partnerships and regulatory alignment as we move toward the next phase of growth.' Remittix is building an innovative layer in the PayFi (Payment Finance) sector, addressing long-standing challenges in crypto usability. Its platform is designed to enable direct crypto-to-fiat transactions, allowing users to send digital assets that convert instantly into fiat currencies and settle in recipients' bank accounts—without requiring KYC on the receiver's side. This mechanism offers both speed and privacy while maintaining compliance and transparency on the sender's end. With the security assurance from Certik in place, Remittix is accelerating development and strategic integrations with local payment networks and financial providers. These developments are expected to enhance its utility across both developed and emerging markets. 'Our mission is to simplify digital finance while ensuring user security remains uncompromised,' the spokesperson added. 'The audit completion is a key validation of that promise, and we're excited to move forward with confidence.' Currently in presale, the Remittix token is gaining attention for its practical use case, streamlined onboarding process, and infrastructure readiness for mass adoption. As the platform prepares for launch, the team is focused on onboarding early adopters and strengthening ecosystem partnerships. To learn more about Remittix or participate in the ongoing presale, please visit: Website: Socials: About Remittix Remittix is a decentralized payment solution designed to bridge the gap between crypto and traditional banking. Its core platform enables real-time crypto-to-fiat transfers, offering seamless access to everyday payments via blockchain technology. Contact:Andy Černý [email protected] Disclaimer: This content is provided by Remittix . The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page. Legal Disclaimer: This media platform provides the content of this article on an 'as-is' basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above. A photo accompanying this announcement is available at Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
