Quick take:
- Anzen Finance offers the USDz stablecoin that is pegged to real-world private credit assets.
- USDz is used to collateralise the assets on-chain by staking it across DeFi protocols.
- Anzen said it plans to use the capital to expand USDz support across blockchains and protocols.
Anzen Finance has secured a $4 million seed round from Mechanism Capital, Circle Ventures, Frax, Arca, Infinity Ventures, Cherubic Ventures, Palm Drive Ventures, M31 Capital, Kraynos Capital and others.
The company offers a real-world asset tokenisation token USDz backed by a diversified portfolio of private credit assets. The token allows holders to collateralise assets on-chain through staking.
Holders can also trade the token on decentralised exchanges and use it for payments according to information on the company’s website. Anzen leverages LayerZero’s Omnichain Fungible Token (OFT) standard to bridge USDz across multiple chains.
According to Anzen founder Ben Shyong, his company is focusing on adoption and new use cases for USDz across partner protocols and multiple chains, The Block reported.
“This means that Anzen users will have plenty of opportunities with many dApps to earn rewards as a USDz holder. For example on Base, there’s a USDz-USDC liquidity pair on Aerodrome where USDz holders can earn Aero incentives,” he said.
DeFiLlama data shows that Aerodrome is the largest protocol on base with TVL of $725 million as of this writing. Many of the other protocols on Base also support other chains.
Crypto staking and real-world tokenisation have emerged as two of the rapidly growing use cases in the industry, popularised by the entry of global asset manager BlackRock’s investment in Securitize and its BUIDL token and EigenLayer’s mainnet launch earlier this year.
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