DeFi platform Zoth has reportedly raised $4 million to fund its efforts to launch digital versions of traditional fixed-income instruments on the blockchain.
According to a new report, this new capital will fuel the launch of Zoth’s Tokenized Liquid Note, a product designed to include secure, low-risk assets such as US Treasury Bills (T-Bills) and high-grade corporate bonds from top global financial institutions.
Pritam Dutta, Founder and CEO of Zoth, expressed his enthusiasm for the successful funding round, stating,
“This funding allows us to explore new opportunities at Zoth.”
Zoth was founded in January 2023 by Pritam Dutta and Koushik Bhargavas as a chain-agnostic crypto yield platform. It offers institutional and accredited investors easy access to secure and sustainable fixed-income yield products on the blockchain.
Dutta emphasized that the strong investor backing highlights confidence in their goal to create a comprehensive crypto yield layer solution that offers sustainable returns by integrating on-chain permissioned real world assets (RWAs) with permissionless DeFi fixed-yield products.
The funding round saw participation from prominent investors, including Taisu Ventures, G20, Fat Cat Ventures, GemHead Capital, Foundership Ventures, DCI Capital, Absolute Digital VC, Gydra Capital, and AstraX Capital. Additional support came from financial and crypto angels linked to companies like Coinbase and Hedera, along with a grant from Ripple’s XRPL Foundation.
Takashi Hayashida, Managing Partner at Taisu Ventures, expressed the collaboration, stating,
“We are excited to support Zoth’s innovative approach to Real World Assets, bridging traditional finance and DeFi. We believe in the potential of RWAs and are confident in Zoth’s ability to lead the market in developing a yield layer in crypto. Their strategic vision and execution capabilities are impressive, and we are eager to back a project with such promise.”
This latest funding round follows Zoth’s earlier $2.5 million seed round led by Blockchain Founders Fund, which included contributions from investors like Borderless Capital, Mindfulness Capital, YAP Capital, Singularity DAO, and Wormhole.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with Markets PRO, DeFi Planet’s suite of analytics tools.”
