Redstone, a supplier of Oracle Data Feeds for Blockchains, buys Credora, an on-chain Creditworthiness Platform supported by, among others, Coinbase Ventures, S&P and Hashkey. The financial conditions of the deal were not revealed.
The Oracle-driven risk rating framework for assets and yield strategies aimed at Decentralized Finance (Defi) will operate under the new Credora brand by Redstone, the companies said on Thursday in a press release.
Data shows that the growth of assessed Defi strategies (ie Morpho Vaults) does not exceed any less than 25%, which Valididated the use of the user help program, Redstone noted. The acquisition is intended to do for decentralized markets, what S&P and Moody’s do in traditional markets, Redstone said.
“Reviews are a natural expansion of our services: we collect and deliver data on-chain, and transparent reviews transform it into usable intelligence,” said Marcin Kazmierczak, co-founder of Redstone.
“As Defi yield strategies become more complex, users need a simple way to go beyond Headline Apys. Raves that clarity. This is a fundamental step to make Defi safer and ready for institutional scale,” he said.
Co-founders of Credora, 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 token risks where many risks are not clear to quantify, ie with tokenized private credit or tokenized shares,” added Kazmierczak.
“We will work to help investors and Defi actors navigate in that space with our assessments that will be a large supporting tool for institutions such as banks that go in Crypto,” he noticed.
