Grove anchors $50 million Apollo tokenized credit fund on Plume

According to Coinjie.com, Grove announced a landmark tokenized transaction, deploying $50 million as the cornerstone investor of Apollo's diversified credit strategy, which has now been launched on the Plume blockchain. Institutional credit agreement Grove has deployed $50 million as an anchor investment in the newly launched Anemoy tokenized Apollo diversified credit fund ACRDX, according to a press release shared with crypto.news on September 16. The fund is the result of a collaboration between tokenization expert Centrifuge and real-world asset blockchain Plume as the tokenization feeder entering Apollo's flagship diversified credit strategy. The tool is designed for Plume’s institutional earnings protocol, Nest Credit, and qualified investors can access the tool through the code nACRDX. Operationally, Centrifuge provides a core tokenized infrastructure that converts shares of Apollo’s diversified credit fund into on-chain tokens, while Plume’s blockchain acts as a specially built settlement layer that hosts the fund through its native compliance and DeFi integration capabilities. The tokenized product nACRDX is then provided through Nest Credit’s vault system, providing a familiar interface for institutional participants. Chronicle oracles strengthens this end-to-end collaboration to ensure reliable on-chain data feeds, while Wormhole’s technology ensures the fund’s cross-chain interoperability. By combining Apollo’s investment expertise with Centrifuge’s tokenization framework and Plume’s infrastructure, the fund is advertised as a compliant and institutional-friendly product. The launch comes amid growing demand for diversified earnings strategies, especially in private credit markets, which have historically opaque and limited to large institutions. In this case, tokenization is expected to increase transparency and efficiency while potentially lowering the barriers for investors seeking exposure. “As investors seek attractive returns and diversification, ACRDX not only serves as a solution to provide exposure to global private and public credit markets, but also validates our mission that institutional-level credit is the core pillar of the blockchain economy,” said Sam Paderewski, co-founder of Grove Labs. Grove positioned itself as an institutional-level credit infrastructure protocol designed to act as a liquidity engine for decentralized finance, enabling qualified investors to earn profits. Grove Labs’ team, including co-founders with deep TradFi and DeFi expertise, claimed that they had contributed to over $5.00 billion in on-chain capital allocation ahead of this deal.