Latest news with #GroveProtocol
Yahoo
2 days ago
- Business
- Yahoo
Asia Morning Briefing: Tokenized Assets Will Eclipse DeFi, Chronicle Founder Niklas Kunkel Says
Good Morning, Asia. Here's what's making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook the oracle infrastructure provider powering secure, scalable onchain financial data, has been named the exclusive partner to Grove Protocol, an institutional-grade credit platform with a $1 billion tokenized asset allocation strategy. Grove, part of the Sky ecosystem known as a 'Star', the name Sky uses for units in its network, launched in June with a $1 billion allocation to tokenized collateralized loan obligations such as the Janus Henderson Anemoy AAA CLO Strategy on Centrifuge, aiming to bridge DeFi and traditional credit markets by giving protocols and asset managers access to diversified, institutional-grade yields. Niklas Kunkel, Chronicle's founder, said in an interview with CoinDesk that oracles have evolved beyond their early role as simple price feeds. 'They started as general data distribution mechanisms and got really siloed into just prices for however many years, to the point where if you say Oracle to anyone in crypto, they immediately think of the thing that gives you a price,' he told CoinDesk. 'It wasn't until recently that that mold is finally being shed and people are starting to understand how important data and context can be and how that can be leveraged in a risk management type of way.' Kunkel sees tokenized assets as DeFi's next major growth engine, describing them as a 'multi-trillion dollar liquidity injection opportunity' as the sector looks beyond BTC and ETH. 'RWAs are not crypto native, so the risk management around them needs to be much more scrutinized," he continued. "Everything is not on chain, and so where oracles really fill that gap is to add that context back in, to bring that transparency back.' In Kunkel's view, the regulatory potential of oracles is just beginning to be recognized. 'In the real world, this is usually done through regulation where you need to make quarterly filings,' he said. 'But in DeFi we expect finality in the span of blocks, and once regulators actually start understanding what oracles can do, they're going to essentially become Oracle's biggest adopters, because oracles essentially become like reg tech.' This partnership marks a step in Chronicle's plan to dominate the tokenized asset oracle market, a position Kunkel believes will soon outgrow DeFi itself. Market Movers BTC: BTC is trading at $119K, up 2% in the last 24 hours. A recent JP Morgan note argued that a bullish S&P 500 outlook could lift BTC by boosting risk appetite and capital flows into speculative assets, given their historical positive correlation. ETH: ETH is trading above $4200. Bizantine Capital managing partner March Zheng said in a note to CoinDesk that the forced closure of so many ETH shorts during the past 72 hours as helped further accelerate the digital asset's rally. Gold: Gold is holding near record highs as weaker U.S. economic data, trade tensions, and a dovish Fed outlook boost demand, with upcoming inflation and retail sales data likely to shape its next move. Nikkei 225: Closed for a public holiday. Elsewhere in Crypto El Salvador's new bitcoin law signals shift from retail adoption to institutional investment (The Block) Stablecoin issuers like Circle and Tether are gobbling up more Treasuries than most countries. Here's how that could reshape the U.S. economy (Fortune) Animoca Brands and Standard Chartered Establish Stablecoin Issuer in Hong Kong (CoinDesk)
Business Wire
3 days ago
- Business
- Business Wire
Chronicle Named Exclusive Oracle Partner to Grove, Enabling a New Era of Onchain Credit Allocation
ZUG, Switzerland--(BUSINESS WIRE)-- Chronicle, the oracle infrastructure powering secure, scalable financial data onchain, has been named the Exclusive Oracle Partner to Grove Protocol, an institutional-grade credit protocol developed by members of Steakhouse Financial. The Next Chapter of Onchain Credit Grove is a new star in the Sky ecosystem and recently announced a $1B commitment to a tokenized asset strategy including initial allocations to the Janus Henderson Anemoy AAA CLO Fund (JAAA) and the JTRSY Treasury Fund (JTRSY), both issued natively through Centrifuge. As Grove prepares to launch a new generation of tokenized yield strategies backed by real-world assets (RWAs), Chronicle will provide the oracle infrastructure required to safely and transparently scale credit allocation across the ecosystem they serve. 'Partnering with Chronicle as our exclusive oracle provider gives us the infrastructure we need to execute Grove's vision transparently and at scale. Reliable, verifiable data is essential to expanding onchain credit markets, and we're thrilled to be partnering with the leading RWA oracle to take onchain transparency to new heights.' — Mark Phillips, Co-founder of Grove Labs Chronicle's designation as Grove's exclusive Oracle Partner ensures that credit flowing from the Grove Liquidity Layer, through the Grove ecosystem—whether to RWA issuers, DeFi protocols, or structured vaults— can rely on Chronicle for powering the oracle infrastructure. This offers not just security, but strategic alignment for those looking to tap into Grove's growing capital network. 'Chronicle was created to ensure the onchain economy can scale with integrity and transparency. Being selected as Grove's exclusive oracle partner underscores our role as the bedrock powering data for institutional-grade strategies. Together, we're building the infrastructure that will allow billions in credit allocations to flow into DeFi safely.' — Niklas Kunkel, CEO of Chronicle Grove and Chronicle together deliver the credit, transparency, and scalable infrastructure needed to support next generation investment strategies connecting tokenized real-world assets with onchain markets through transparent real time data and credit rails. Grove's initial focus is on launching the Grove Liquidity Layer, an allocation system inspired by the Spark Liquidity Layer, designed to direct capital toward both onchain and offchain credit opportunities. Much like Spark, Grove's Liquidity Layer incorporates a surplus buffer (or first-loss capital) mechanism, which expands the investable universe by absorbing early risk and enhancing capital efficiency. This positions Grove to pursue a wide range of opportunities at the intersection of DeFi, stablecoins, and traditional finance, while providing a flexible foundation for future ecosystem growth. Through its strategic partnership with Grove, Chronicle is deepening its role as the oracle backbone for the next wave of tokenized real-world assets. Earlier this year, Chronicle was announced as the oracle provider for SparkDAO's $1 billion Tokenization Grand Prix. The winning funds included BlackRock and Securitize's BUIDL fund, Superstate's tokenized U.S. Treasury fund (USTB), and Centrifuge's short-duration U.S. Treasury fund (JTRSY). In this role, Chronicle was selected to provide the underlying oracle infrastructure for each of these funds, delivering secure, verifiable onchain data. Looking Ahead The launch of Grove marks the beginning of a new era in decentralized credit, one where tokenized real-world assets flow seamlessly into the onchain economy at scale. By designating Chronicle as its exclusive oracle partner, Grove ensures its credit allocation strategy rests on the most verifiable, transparent, and battle-tested oracle infrastructure available. This partnership is more than a technical integration, it's the connective foundation between institutional-grade credit products and the open, programmable markets of DeFi. Together, Grove and Chronicle are creating the rails for a financial system that is not only more transparent but also more accessible, resilient, and aligned with institutional standards. Chronicle's role as Grove's exclusive oracle partner ensures this vision to deliver the credit, transparency, and scalable infrastructure becomes a reality. Just as Grove is building the credit rails to bridge DeFi and traditional finance, Chronicle is providing the verifiable data infrastructure that makes those rails secure, transparent, and scalable. Together, Chronicle and Grove are creating a new cycle of capital formation, one where institutional-grade credit products are no longer reserved for the few, but accessible to billions through the onchain economy. For protocols, asset issuers, and chains, the message is clear: to access Grove's capital network, Chronicle is the oracle of choice. About Chronicle Chronicle is the oracle network built for secure, verifiable data in DeFi and real-world asset markets. As the first oracle to launch on Ethereum, Chronicle has evolved into a high-performance network securing over $7 billion in value. With transparent validator sets, cryptographic proofs, and fully auditable data models, Chronicle delivers on-chain data you can inspect, trust, and scale with. Institutions and protocols rely on Chronicle to power mission-critical feeds with end-to-end transparency and institutional-grade reliability. About Grove Grove is an institutional-grade credit infrastructure DeFi protocol designed to serve as the liquidity engine of Decentralized Finance. Incubated by Grove Labs as a Star within the decentralized Sky Ecosystem governance framework, Grove enables protocols, crypto-native organizations, and individual users to access institutional-grade yield. To learn more, visit X, and LinkedIn.
