Grove Expands to Avalanche Network With $250 Million Credit Investment
Grove, a credit protocol in the Sky ecosystem, is expanding to the Avalanche network with plans to allocate up to $250 million into tokenized credit products.
- Investment includes the Janus Henderson Anemoy AAA CLO Fund (JAAA) through Centrifuge.
- Janus Henderson manages $373 billion in assets, marking a significant entry into Avalanche's real-world asset ecosystem.
- Centrifuge also launches the Janus Henderson Anemoy Treasury Fund (JTRSY), backed by U.S. Treasury assets.
- This initiative supports the trend of tokenizing traditional assets like credit and bonds on blockchain platforms.
- Grove Labs aims to create scalable onchain credit markets by combining its tools with Avalanche's infrastructure.
- Avalanche has previously tokenized $240 billion in property deeds in New Jersey.
- Grove’s team has experience from Deloitte, Citigroup, and BlockTower, aiming to replicate previous successes in structured credit.