This article covers Zoth’s recent funding round extension to $4 million, aimed at bringing $100 million in Real World Assets （RWA）-backed tokenized liquid notes （$ZTLN） onchain. It explores the significance of this raise, the goals of the project, and its potential impact on the blockchain and finance sectors.
Points
- Overview of Zoth’s funding round extension.
- Goals of the RWA-backed tokenized liquid notes project.
- Key investors and strategic partners.
- Potential impact on the blockchain and finance sectors.
Zoth Extends Raise to $4M to Bring $100 Million RWA-Backed Tokenized Liquid Notes （$ZTLN） Onchain
Dubai, United Arab Emirates, August 5th, 2024, Chainwire
Zoth, a leading innovator in the blockchain space, has extended its funding round to $4 million. This significant raise is aimed at bringing $100 million in Real World Assets （RWA）-backed tokenized liquid notes （$ZTLN） onchain.
Funding and Strategic Goals
The funding round attracted prominent investors, including Taisu Ventures, G20, Fat Cat Ventures, GemHead Capital, Foundership Ventures, DCI Capital, Absolute Digital VC, Gydra Capital, and AstraX Capital. Zoth also garnered support from top financial and crypto angels from companies like Coinbase and Hedera, alongside a grant from Ripple’s XRPL Foundation.
Founded in January 2023 by Pritam Dutta and Koushik Bhargav, Zoth aims to become a chain-agnostic crypto yield layer, providing institutional and accredited investors with access to secure financial products onchain.
“We’re thrilled to close this strategic funding round and pursue new opportunities at Zoth. We’re building a one-stop crypto yield layer solution for sustainable yield by harnessing onchain permissioned RWAs and permissionless DeFi fixed-yield products. We believe the biggest opportunities in the crypto-asset industry lie within these sectors, and this strategic round shows investor confidence in this space,” said Pritam Dutta, Founder & CEO of Zoth.
Key Investors and Strategic Partners
To date, Zoth has deployed $13 million in private credit, with over $100 million originated and $200 million in the pipeline. The company is building a regulated ecosystem for innovative products, starting with Zoth-Fi, which provides stablecoin-based financial solutions to institutions and qualified investors across more than eight blockchains, including Ethereum, Polygon, and XDC. Additionally, Zoth is integrating multichain RWAs into new ecosystems such as Bitcoin via Bitlayer.
https://x.com/zothdotio/status/1778048922042429473
Potential Impact on Blockchain and Finance Sectors
The partnership with prominent investors and strategic partners signals a growing acceptance of blockchain technology within the traditional finance realm. Zoth’s high-speed, low-cost, and environmentally friendly platform offers a compelling proposition for the financial industry, promising to streamline processes, enhance security, and improve efficiency.
“Zoth’s successful strategic raise is a strong validation of their vision which we believed in from the start,” said Aly Madhavji, Managing Partner at Blockchain Founders Fund. “Seeing other prominent investors come on board further confirms the significant impact Zoth is poised to have in merging traditional finance with decentralized technologies.”
Future Developments
Zoth’s growth follows a year of collaboration with institutional partners like Coinbase Asset Management, Chainlink, Wormhole, Singularity DAO, XDC, TradeFinex, Funfair Ventures, and more. Recognized by Fidelity FCAT and the Wormhole Foundation, ZOTH operates with compliant infrastructure in the UAE and Luxembourg. They’ve also partnered with diversified ecosystem partners, L1/L2 chains, regulated banks, and fintechs across the Middle East and LATAM.
About Zoth
The inaugural offering, Zoth—Fixed Income （Zoth-Fi）, is a chain-agnostic, institutional-grade platform providing institutional and accredited investors access to secure financial assets through stablecoins. Zoth aims to expand its range of financial products, including the Tokenized Liquid Note and Green Finance, alongside permissionless DeFi products.
Users can learn more about Zoth by visiting:
Website I Zoth-Fi I Atlas I Twitter I Discord I Telegram I LinkedIn
解説
- Innovation in Finance: Zoth’s initiative to bring $100 million in RWA-backed tokenized liquid notes onchain represents a significant step in integrating blockchain technology with traditional finance. This could lead to more secure and efficient financial products.
- Strategic Partnerships: The involvement of prominent investors and partners underscores the growing confidence in blockchain-based financial solutions. These partnerships can drive further innovation and adoption.
- Market Potential: By focusing on RWAs and permissionless DeFi products, Zoth is tapping into high-growth areas within the crypto-asset industry. This strategic focus positions Zoth well for future success and market leadership.
- Regulatory Compliance: Operating within a compliant framework in key financial hubs enhances Zoth’s credibility and potential for widespread adoption. Regulatory compliance is crucial for gaining trust and expanding market reach.