CSX and a16z lead Cork’s $5.5 million seed round to make RWA risk tradable
Cork raised a $5.5 million seed round led by CSX and a16z to build infrastructure for tokenizing and trading real-world asset risk.Summary
Cork, a startup focused on tokenized risk, secured $5.5 million in a seed funding round led by venture capital firms Andreessen Horowitz (a16z) and CSX, with participation from Road Capital and others. Cork is developing a "programmable risk layer" designed to make implicit risks associated with real-world assets (RWAs) transparent and tradable on-chain. This infrastructure allows asset managers and issuers to create custom swap markets to enhance liquidity, transparency, and confidence for onchain assets like yield-bearing stablecoins. The tools can also price risks for crypto-native products such as vault tokens. By standardizing risk measurement, Cork aims to unlock hedging opportunities, provide liquidity backstops against depegs, and enable active management of stress scenarios. Co-founder Phil Fogel stated they are building foundational risk infrastructure as the industry matures and institutions onboard. Cork plans to roll out production-grade risk markets soon.
(Source：The Block)