Redstone, A Oracle Data Feed provider for blockchains, is buying CreditorAn on-chain credit rating platform supported by Coinbase Ventures, S&P, and Hashkey, among others. The financial terms of the deal were not expressed.
Oracle rating framework enabled for property and yield techniques dedicated to decentralized finance (Defi) will run under Redstone’s new brand credora, companies said in a press release on Thursday.
Data displays that the growth of that -rate techniques in defi (ie, Morpho Vaults) Outpaces that are unspecified techniques by almost 25%, user utility verification, Redstone pointed out. The acquisition aims to do for the decentralized markets of what S&P and Moody’s want in the traditional market, Redstone said.
“Ratings are a natural extension of our services: we gather and deliver data on-chain, and transparent ratings change intelligence action,” said Marcin Kazmierczak, Redstone’s co-founder.
“As DeFI’s yield techniques grow, users need a simple way to navigate beyond APys headlines. Ratings provide clarity. This is a basic step towards making safer and prepared for the institution’s scale,” he said.
Credora’s co-founders, Darshan Vaidya and Matt Ficke, joined Redstone as strategic advisors, helping to integrate and adoption.
“Another important point is that redstone is growing in RWA and tokenization space where many risks are not obvious to form, meaning to tokenized private credit or tokenized stock,” Kazmierczak added.
“We are working to help investors and actors defi navigate that space along with our ratings that will be a great tool that supports for institutions such as banks entering crypto,” he said.
