The credit protocol Grove expands to the Avalanche network, planning to invest $250 million in tokenization of credit products.

On July 28, according to Coindesk, the credit protocol Grove in the Sky ecosystem (formerly the MakerDAO ecosystem) announced on Monday that it will expand to the Avalanche Blockchain network and plans to allocate up to $250 million to tokenized credit products. According to the announcement, Grove will invest in the Anemoy AAA-rated CLO fund (JAAA) issued by Janus Henderson through the blockchain tokenization platform Centrifuge. Janus Henderson, as a top global asset management company managing $373 billion in assets, marks this move as one of the largest attempts by Financial Institutions to enter the Avalanche real-world asset (RWA) ecosystem. Centrifuge will also launch the Janus Henderson Anemoy Treasury fund (JTRSY) backed by U.S. Treasury bonds. It is reported that the Grove team includes former members from Deloitte, Citibank, and BlockTower, who previously helped MakerDAO expand the tokenized treasury bond market. The protocol plans to replicate this model in the structured credit space, providing programmable channels for crypto-native investors and traditional investors to access a multi-trillion dollar market.