Blockchain Data Provider Chronicle raises $ 12m to expand infrastructure for tokenized assets
Chronicle, a blockchain data provider focuses on tokenized assets, announced on Tuesday that it raised $ 12 million in a flood of seed funding.
The investment is led by Strobe Ventures, formerly known as the Block Tower Capital. Other supporters include Galaxy Vision Hill, Brevan Howard Digital, Tioga Capital and Fenbushi Capital, in conjunction with prominent Crypto Angel investors such as Rune Christensen (Sky/Makerdao Founder), Andre Cronje (founder of Sonic and Yearn), Stani Kulechov (founder of Aave), Mark Phillips of the steakhouse) and Sampherson (Co-Founder Phoenix Labs).
The Chronicle operates as an Oracle network, which offers real-time data verification for tokenized financial products. It has been processed by more than $ 20 billion in the total cost of safe (TV) since its launch in 2017 and has expanded its infrastructure to address rising demand. The company has recently released “Verified Asset Oracle,” which ensures the authenticity of off-chain assets for those who provides such as Centrifuge, Superstate and M^0.
“As banks and managers of the owner will accelerate the tokenization initiatives, the trusted chronicle data provides reliability and ability to comply with these institutions,” said Thomas Klocanas, a general partner in Strobe Ventures.
Demand for real-world assets (RWA) tokenization is rising, as global banks and property managers especially use blockchain metals for moving traditional financial instruments. Tokenized assets can be a multitrillion-dollar market by 2030, reports McKinsey, Boston Consulting Group and others are expected.
Chronicle aims to tap on rising demand by incorporating off-chain data with blockchain-based assets by ensuring data security, auditability and efficiency through a network of validators, including established financial data providers and indigenous organizations such as Sky, formerly Makiloo.
The company said it would use the new capital to advance product development, expand partners, and strengthen compliance steps, strengthening its role as a bridge between traditional finances and digital properties.
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