Dubai, United Arab Emirates, August 5th, 2024, Chainwire
Zoth, a Defi Yield infrastructure company, has successfully extended its raise to $4 million strategic round to spearhead the launch of its innovative Tokenized Liquid Note, comprised of secure low-risk assets like US Treasury Bills (T-Bills) and top-rated corporate bonds from top global financial institutions.
It’s a major step in Zoth's mission to bring permissioned Real World Assets (RWAs) and permissionless DeFi products to the blockchain.
The funding round attracted prominent investors, including Taisu Ventures, G20, Fat Cat Ventures, GemHead Capital, Foundership Ventures, DCI Capital, Absolute Digital VC, Gydra Capital, and AstraX Capital. Zoth also garnered support from top financial and crypto angels from companies like Coinbase and Hedera, alongside a grant from Ripple’s XRPL Foundation.
Founded in January 2023 by Pritam Dutta and Koushik Bhargav, Zoth aims to become a chain-agnostic crypto yield layer, providing institutional and accredited investors with access to secure financial products onchain.
"We're thrilled to close this strategic funding round and pursue new opportunities at Zoth. We're building a one-stop crypto yield layer solution for sustainable yield by harnessing onchain permissioned RWAs and permissionless DeFi fixed-yield products. We believe the biggest opportunities in the crypto-asset industry lie within these sectors, and this strategic round shows investor confidence in this space," said Pritam Dutta, Founder & CEO of Zoth.
To date, Zoth has deployed $13 million in private credit, with over $100 million originated and $200 million in the pipeline. The company is building a regulated ecosystem for innovative products, starting with Zoth-Fi, which provides stablecoin-based financial solutions to institutions and qualified investors across more than eight blockchains, including Ethereum, Polygon, and XDC. Additionally, Zoth is integrating multichain RWAs into new ecosystems such as Bitcoin via Bitlayer.
Takashi Hayashida, Managing Partner at Taisu Ventures commented, “We're excited to support Zoth's innovative vision for Real World Assets, bridging TradFi and DeFi. At Taisu Ventures, we are bullish on RWAs and Zoth's goal to be the go-to solution for building a yield layer in crypto. Their strategic approach and execution give us confidence in their ability to deliver sustainable fixed-income yields. We're thrilled to back a project with such compelling vision and capability.”
The Zoth Tokenized Liquid Note ($ZTLN) has a size of $100 million and invests in short-term, high-quality instruments. It provides transparency with weekly NAV updates, detailed disclosures, and live proof of reserve on Chainlink. Managed by experts recognized by Compound, Mastercard, Coinbase, and Fidelity, it ensures 24/7 liquidity through licensed brokers and custodians. The product features audited smart contracts and interoperable security tokens compatible with multiple blockchains
Zoth is also developing Atlas, a permissionless yield product aimed at being a comprehensive DeFi yield solution. Currently, in the testnet phase, Atlas is designed to educate DeFi users and incorporate RWAs and crypto strategies. The product has already reached over 1+ million wallets via its gamified RWA index on Berachain and Base Network.
This follows Zoth’s $2.5M Seed Round led by Blockchain Founders Fund in April 2024, with other backers such as Borderless Capital, Mindfulness Capital, YAP Capital, Singularity DAO, Wormhole, and prominent angels from top crypto-native companies like Circle and more.
"Zoth's successful strategic raise is a strong validation of their vision which we believed in from the start," said Aly Madhavji, Managing Partner at Blockchain Founders Fund. "Seeing other prominent investors come on board further confirms the significant impact Zoth is poised to have in merging traditional finance with decentralized technologies."
Zoth’s growth follows a year of collaboration with institutional partners like Coinbase Asset Management, Chainlink, Wormhole, Singularity DAO, XDC, TradeFinex, Funfair Ventures, and more. Recognized by Fidelity FCAT and the Wormhole Foundation, ZOTH operates with compliant infrastructure in the UAE and Luxembourg. They've also partnered with diversified ecosystem partners, L1/L2 chains, regulated banks, and fintechs across the Middle East and LATAM.
About Zoth
Zoth is a DeFi infrastructure company bringing Permissioned RWAs and Permissionless DeFi financial products onchain
The inaugural offering, Zoth—Fixed Income (Zoth-Fi), is a chain-agnostic, institutional-grade platform providing institutional and accredited investors access to secure financial assets through stablecoins. Zoth aims to expand its range of financial products, including the Tokenized Liquid Note and Green Finance, alongside permissionless DeFi products.
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