A new start of crypto infrastructure called Block Street raised $ 11.5 million to generate the so-called “implementation layer for on-chain stocks.”
The funding is led by the Hack VC, with a backlash from generative venture, DWF labs and others including executives from companies such as Jane Street and Point72.
The pitch of Block Street is that trading tokenized stock should feel fast and reliable as a traditional market.
Its system, called aqua, is built in monad, and uses a Request-for-quote (RFQ) Model where market makers compete to offer the best price. These quotes are signed cryptographically and proven onchain to prevent manipulation or delay.
Another part of the stack, Everst, introduces lending and extermination tools that are specifically designed for tokenized ones -equal, allowing users to borrow, short, or fence these properties. The company said this setup reduces “MeV Leakage” and makes the tokenized assets better, not just speculation.
“Our mandate is infra, not just an app,” said Hedy Wang, Block Street co-founder. “Monad’s parallel EVM provides us with guarantees of settlement and expectations of latency budget institutions, while Aqua and Everst are driving the best operational and risk of justice in danger directly controlled.”
Block Street plans to live in Monad later this year, which expands to the Ethereum, BNB chain and base as the integrations are adults. The team, which includes veterans from Citadel, Point72 and Google, is planning to publish transparency dashboards showing how well they are implementing compared to automatic market manufacturers.
