Block Street: Revolutionizing On-Chain Stocks with $11.5M Funding Round

Block Street secures $11.5M to build an execution layer for on-chain stocks, aiming to make trading tokenized equities as fast and reliable as traditional markets.

Block Street: Revolutionizing On-Chain Stocks with $11.5M Funding Round

The world of finance is constantly evolving, and the latest buzz centers around Block Street, an innovative crypto infrastructure startup. Fresh off an $11.5 million funding round, Block Street is set to redefine how we trade tokenized stocks.

What's Block Street Up To?

Block Street aims to build an “execution layer for on-chain stocks.” The funding round was led by Hack VC, with backing from Generative Venture, DWF Labs, and even some big names from firms like Jane Street and Point72. The core idea? Make trading tokenized stocks as seamless and reliable as traditional markets.

Aqua and Everst: The Dynamic Duo

Block Street's system, Aqua, is built on Monad and uses a request-for-quote (RFQ) model. Market makers compete to offer the best prices, with quotes cryptographically signed and verified on-chain to prevent any funny business. Then there's Everst, which introduces lending and liquidation tools specifically for tokenized equities. Users can borrow, short, or hedge these assets, reducing MEV leakage and making tokenized assets more functional.

Why This Matters

According to Hedy Wang, co-founder of Block Street, their mandate is infra, not just an app. Monad’s parallel EVM provides the settlement guarantees and latency that institutions expect. Aqua and Everst push best-execution and equity-native risk controls directly on-chain.

The Bigger Picture

While Block Street is making waves, other companies are also exploring the intersection of finance and blockchain. Predictive Oncology Inc. recently closed two private investment transactions totaling approximately $343.5 million to support its digital asset treasury strategy. This shows a growing trend of companies leveraging digital assets for various purposes, from funding operations to enhancing technology offerings.

Looking Ahead

Block Street plans to go live on Monad later this year, expanding to Ethereum, BNB Chain, and Base as integrations mature. The team, including veterans from Citadel, Point72, and Google, plans to publish transparency dashboards showing just how much better their execution is compared to automated market-makers.

Final Thoughts

Block Street's vision of on-chain stocks is bold, and with the backing of some serious players, they might just pull it off. Keep an eye on this space—it's shaping up to be a wild ride!