What to know:
- Chronicle, a blockchain data provider, has raised $12 million in a seed funding round led by Strobe Ventures.
- The company operates as an oracle network, providing real-time data verification for tokenized financial products, and plans to use the new capital to advance product development, expand partnerships and strengthen compliance measures.
- Real-world asset tokenization is projected to become trillion-dollar market, and Chronicle aims to address the challenge of integrating off-chain data with blockchain-based assets.
Chronicle has raised $12 million in a seed funding round to enhance its focus on tokenized assets. The lead investor, Strobe Ventures, previously known as BlockTower Capital, along with notable contributors like Galaxy Vision Hill, Brevan Howard Digital, Tioga Capital, and Fenbushi Capital, back the initiative.
“As banks and asset managers accelerate tokenization initiatives, Chronicle’s trusted data infrastructure provides the reliability and compliance capability these institutions require,” stated Thomas Klocanas, a general partner at Strobe Ventures.
The demand for integrating real-world data with blockchain platforms is increasing rapidly, with projections indicating it could reach a multitrillion-dollar market by 2030.
