Tokenization startup Cork completes $5.5 million seed round financing, led by a16z and CSX

According to The Block, tokenization startup Cork announced the completion of a $5.5 million seed round financing, led by Andreessen Horowitz (a16z), CSX, and Road Capital, with participation from 432 Ventures, BitGo Ventures, Cooley, DEPO Ventures, Funfair Ventures, G20 Group, Gate Labs, Hyperithm Gate, IDEO Ventures, PEER VC, Stake Capital, and WAGMI Ventures.

Cork is dedicated to building a "programmable risk layer," aimed at making the implicit risks in real-world assets transparent and tradable through tokenization. Its infrastructure allows asset managers, issuers, and others to create customized swap markets to enhance the redemption liquidity, risk transparency, and market confidence of on-chain assets. This tool can also be used to assess the risks of crypto-native products such as stablecoins and staked tokens. The team plans to launch the first production-grade risk markets in the coming months and expand collaborations with treasury and asset issuers.