Block Street Secures $11.5M to Develop On-Chain Stocks Platform
Block Street, a new crypto infrastructure startup, has raised $11.5 million to develop an "execution layer for on-chain stocks."
- The funding round was led by Hack VC and included Generative Venture, DWF Labs, and executives from Jane Street and Point72.
- Block Street aims to make trading tokenized stocks as fast and reliable as traditional markets.
- The system, Aqua, uses a request-for-quote (RFQ) model, where market makers offer the best price, with quotes signed and verified on-chain.
- Everst, part of their stack, offers lending and liquidation tools for tokenized equities, reducing “MEV leakage” and enhancing asset functionality.
- Hedy Wang, co-founder, highlights that Monad’s parallel EVM provides settlement guarantees and latency expectations.
- Block Street plans to launch on Monad this year, expanding to Ethereum, BNB Chain, and Base.
- The team includes professionals from Citadel, Point72, and Google, intending to release transparency dashboards to showcase execution effectiveness.