The credit agreement Grove expands to the Avalanche network, planning to invest $250 million in tokenized credit products

ChainCatcher news, 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 traditional 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, Citigroup, and BlockTower, who previously helped MakerDAO expand into the tokenized treasury market. The protocol plans to replicate this model in the structured credit space, providing programmable access for crypto-native investors and traditional investors to a multi-trillion-dollar market.