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The DeFi protocol Grove launches with a $1 billion investment in tokenization of CLO.
[Coin World] On June 25, news came that the Decentralized Finance protocol Grove was officially launched today, and it received a $1 billion allocation from a DeFi lending platform ecosystem for investing in tokenized collateralized loan obligations (CLO). Grove aims to bring on-chain capital into the regulated traditional credit market, providing real-world asset exposure for crypto projects. The protocol is the latest autonomous unit “Star” under the platform’s “Endgame” initiative.