DeFi
Anzen Finance raises $4M from Mechanism Capital, Circle Ventures, Frax, Arca and more to bring the benefits of real-world assets (RWA) to DeFi
Funding to help Anzen drive its protocol’s growth and introduce new product offerings leveraging RWAs, like private asset-backed securities, for sustainable returns.
HONG KONG / ACCESSWIRE / May 28, 2024 / Anzen Finance, the decentralized platform creating USDz, a digital dollar backed by Real World Assets (RWA), has raised $4 million in seed funding. This investment round, led by leading investors including Mechanism Capital, Circle Ventures, Frax, Arca, Infinity Ventures, Cherubic Ventures, Palm Drive Ventures, M31 Capital, Kraynos Capital and several other leading backers, marks an important milestone in Anzen’s mission. to integrate real-world assets (RWA) into the DeFi ecosystem.
The new capital will accelerate Anzen’s development of its protocol and expansion of its product offerings. By leveraging RWAs, Anzen aims to create a sustainable yield ecosystem, establishing a much-needed connection to high-quality assets within the real economy. This innovative approach is expected to bring stability and new use cases to DeFi, opening up a multi-billion dollar market opportunity.
“This capital injection from such a remarkable group of backers is a huge vote of confidence in Anzen’s vision to seamlessly integrate the real economy with the DeFi ecosystem and create opportunities for users to diversify their portfolios while earning sustainable staking rewards,” said Ben Shyong, founder of Anzen Finance.
The Anzen Protocol, live on Ethereum and Base, allows users to create USDz, a digital token backed by a diverse portfolio of private credit assets. These assets, sourced from qualified and KYC-compliant investors, are rigorously underwritten to ensure their reliability and value, even in a volatile cryptocurrency market.
With the introduction of USDz, Anzen offers a scalable digital dollar over-collateralized by cash flow RWAs, primarily private asset-backed securities, a major component of the $7 trillion U.S. private credit market. USDz is backed at all times by on-chain RWA collateral worth $1 or more. It is freely traded on decentralized exchanges, where it can be exchanged for stablecoins like USDT or USDC.
This token is permissionless, composable, and can be staked for rewards on various DeFi protocols. By using tokens backed by real collateral, users can diversify their portfolios and mitigate the risks associated with uncollateralized crypto tokens.
Anzen Finance is poised to bridge the gap between traditional finance and decentralized finance, bringing together the best of both worlds.
About Anzen Finance
Anzen Finance connects traditional finance and DeFi with its innovative products. Its latest offering, USDz, is a stablecoin backed by a diversified portfolio of rigorously underwritten private credit assets. Anzen collaborates with experienced credit experts and deploys capital alongside institutional investors to generate sustainable revenue streams that support staking rewards for USDz holders. This approach aims to ensure stability, consistency and mitigation of market volatility. Committed to transparency and trustworthiness, Anzen Finance makes high-quality asset-backed stablecoins widely accessible.
Contact details
Colin Landers
[email protected]
Company Website
SOURCE: ANZEN FINANCE