Block Street Secures $11.5 Million to Develop Tokenized Stock Infrastructure
The firm, backed by Hack VC and other investors, will debut its execution and lending platform on Monad before expanding to major blockchains.
ETH
BNB
Summary
Block Street has raised $11.5 million in strategic financing, led by Hack VC with contributions from Generative Venture, DWF Labs, StudioB, and Bridge34. The company is developing an execution and lending layer for tokenized stocks, utilizing its Aqua (RFQ intents) and Everst (hybrid clearing) technology stacks. The initial launch will be on Layer-1 project Monad in Q4 2024, followed by expansion to Ethereum, BNB Chain, and Base. Founders hail from Citadel, Point72, and Google, and the platform will feature a transparent user dashboard to improve accessibility and experience.
Terms & Concepts
- Tokenized Stocks: Digital representations of traditional equity shares recorded on a blockchain, enabling fractional ownership and on-chain trading.
- RFQ Intents: A request-for-quote mechanism allowing users to signal transaction parameters for potential counterparties before execution.
- Hybrid Clearing: A settlement process combining on-chain and off-chain systems to optimize efficiency and security in trade finalization.