Grove expands credit agreement to Avalanche network, plans to invest $250 million in tokenized credit products

BlockBeats news, on July 28th, according to Coindesk, Grove, a credit agreement in the Sky ecosystem (formerly known as the MakerDAO ecosystem), announced on Monday that it will expand to the Avalanche blockchain network and plans to allocate up to $250 million in funds to tokenized credit products. According to the announcement, Grove will invest in the Anemoy AAA CLO Fund (JAAA) issued by Janus Henderson through the blockchain tokenization platform Centrifuge. Janus Henderson, as the world's top asset management company managing $373 billion in assets, has made this one of the largest attempts by traditional financial institutions to enter the Avalanche Real World Asset (RWA) ecosystem. Centrifuge will also launch the Janus Henderson Anemoy Treasury Fund (JTRSY) supported by US treasury bond bonds. It is reported that Grove team includes former members from Deloitte, Citigroup and BlockTower, who previously helped MakerDAO expand the token treasury bond bond market. The agreement plans to replicate this model to the structured credit field, providing a programmable channel for crypto native investors and traditional investors to enter the multi trillion dollar market.