Redstone, an Oracle Data Feeds for Blockchains supplier, buys Credora, a chain credit rating platform supported by Coinbase Ventures, S&P and Hashkey, among others. The financial conditions of the agreement have not been revealed.
The risk rating framework fueled by Oracle for assets and yield strategies focused on decentralized finance (Challenge) Overra as part of the new CREDORA brand by Redstone, companies said in a press release Thursday.
Data show that the growth of challenges noted (Ie, morpho vaults) Exceeds up to 25% of strategies, validating user utility, underlined Redstone. The acquisition aims to do for the decentralized markets what S&P and Moody’s do on the traditional markets, said Redstone.
“Notes are a natural extension of our services: we collect and provide data on the chain, and transparent notes transform them into usable information,” said Marcin Kazmierczak, co-founder of Redstone.
“While DEFI performance strategies become more complex, users need a simple way to navigate beyond the capacities.
The co-founders of Credora, Darshan Vaidya and Matt Ficke, join Redstone as strategic advisers, helping integration and adoption.
“Another crucial point is that Redstone has grown in RWA and the tokenization space where many risks are not obvious to quantify, that is to say with private credit or token actions,” added Kazmierczak.
“We are going to work to help investors and actors navigate in this space with our notes which will be a great support tool for institutions such as banks that enter the crypto,” he noted.
