Real-world asset startup Zoth has raised $4 million in a strategic round to launch its Tokenized Liquid Note, featuring assets like U.S. Treasury Bills and corporate bonds.
Zoth, a decentralized finance real-world assets startup, has secured a $4 million strategic round to advance its efforts in launching digital versions of traditional fixed-income instruments on the blockchain.
In an Aug. 5 press release shared with crypto.news, the Singapore-headquartered startup said the funding was backed by Taisu Ventures, G20, Fat Cat Ventures, GemHead Capital, and Foundership Ventures, among others.
Zoth CEO Pritam Dutta commented on the funding, stating that the team is trying to build a “one-stop crypto yield layer solution for sustainable yield by harnessing onchain permissioned RWAs and permissionless defi fixed-yield products.” So far, the startup has deployed $13 million in private credit, with over $100 million originated and $200 million in the pipeline, the press release reads.
Crypto business bets on RWA
Founded in 2023 by Pritam Dutta and Koushik Bhargav, Zoth aims to become a chain-agnostic crypto yield layer, providing institutional and accredited investors with easy access to secure and sustainable fixed-income yield products onchain.
In addition to the latest funding, the startup earlier also raised $2.5 million in a seed round led by Blockchain Founders Fund alongside other backers such as Borderless Capital, Mindfulness Capital, YAP Capital, Singularity DAO, and Wormhole. In June, Ripple’s XRPL Accelerator included Zoth in its list of 18 startups to help them scale their projects on the XRP Ledger.
Beyond Ripple, Zoth has also collaborated with other partners such as Chainlink, Celo, XDC, and Funfair Ventures to bridge liquidity across traditional finance and defi.
Read more: Backed, Lisk partner to foster RWA adoption in emerging markets
Source