Redstone, a provider of Oracle data feeds to blockchains, buys Credora, an ont-chain Credit rating platform supported by Coinbase Ventures, S&P and Hashkey, among others. The financial conditions for the agreement were not revealed.
Oracle-driven risk assessment frames for assets and yield strategies focused on decentralized financing (Defi) Will operate under the new brand Credora of Redstone, companies said in a press release on Thursday.
Data shows that the growth of nominal defi strategies (ie. Morpho vaults) Transitions outside strategies with as much as 25%, validation of the user tool, pointed out Redstone. The acquisition aims to do for decentralized markets what likes S&P and Moody’s do in traditional markets, Redstone said.
“Reviews are a natural expansion of our services: We collect and supply data on-chain, and transparent ratings transform it into action intelligence,” said Marcin Kazmierczak, co-founder of Redstone.
“As defi yield strategies grow more complex, users need a simple way to navigate beyond the heading APYS. Reviews give this clarity. This is a basic step towards making defi safer and ready for institutional scale,” he said.
Credora’s co -founders, Darshan Vaidya and Matt Ficke, join Redstone as strategic advisers and help with integration and adoption.
“Another crucial point is that Redstone has grown in the rwa and tokenization room, where a lot of risks are not obvious to quantify, ie with tokenized private credit or tokenized shares,” Kazmierczak added.
“We will work to help investors and defi actors navigate the space with our ratings that will be a good supportive tool for institutions such as banks going in crypto,” he noted.
