Sky Network's ecosystem welcomes Grove with $1 Billion in funding to advance its RWA business

BlockBeats News, June 25th, according to Coindesk, the decentralized finance protocol Grove was officially launched this Wednesday, focusing on building institutional-grade credit infrastructure, and announced a $1 billion tokenized asset investment commitment. DeFi lending giant Sky will allocate $1 billion to the Grove protocol to invest in tokenized Collateralized Loan Obligations (CLOs).

The protocol aims to bridge DeFi and traditional financial assets by introducing on-chain funds into regulated credit investments (with a focus on Collateralized Loan Obligations, CLOs). Grove's infrastructure allows crypto-native protocols and asset management companies to invest in real-world assets (RWAs), unlocking idle reserves and gaining returns independent of the crypto market.
The protocol was incubated by the DeFi specialized firm Steakhouse Financial, which played a key role in introducing RWAs to the Sky ecosystem.