Apollo secures $50 million in backing to launch new tokenized credit fund

Odaily Planet Daily News: The blockchain-based RWA institution Centrifuge and Plume jointly launched the "Anemoy Tokenized Apollo Diversified Credit Fund (ACRDX)", which received a $50 million anchor investment from Grove, a credit infrastructure protocol within the Sky ecosystem. The fund enables blockchain investors to participate in Apollo's diversified global credit strategy, covering direct corporate loans, asset-backed loans, and mismatched credit. ACRDX will be issued through Plume's Nest Credit Vault with the token code nACRDX, enabling institutional investors to participate in the strategy on the chain. Chronicle will serve as the oracle provider, and Wormhole will be responsible for cross-chain connections. After approval, Anemoy will serve as the manager of the fund. (CoinDesk)