Crypto investment firm RockawayX is betting $150 million on yield becoming next big use case
The $2 billion digital-asset investment firm rolls out an initiative to back, build and provide liquidity to projects bringing real-world yields into DeFi.
Digital asset investment firm RockawayX is putting $150 million to bring more private credit and other yield-generating assets onchain, betting that lending tied to the real economy will become one of crypto's largest markets.
The $2 billion digital-asset investment firm is rolling out Catapult, a program that will provide venture funding, product structuring, liquidity, market making and distribution for tokenized credit products, the firm told CoinDesk Thursday.
RockawayX already operates across several parts of the crypto investment stack. It runs venture funds for early-stage investments, a market-neutral fund that provides liquidity to DeFi protocols, and a vault business with roughly $300 million in deployed capital. The firm also acquired crypto hedge fund Relayer in August.
“Our thesis going forward that after trading, yield will be the largest use case onchain” Fischer said. For that, “we need new sources of yield, 12% plus, uncorrelated to crypto,” he added.