Grove Anchors $50M in Apollo Tokenized Credit Fund on Plume Blockchain

Grove has committed $50 million as the cornerstone investment in Apollo's newly launched tokenized credit fund (ACRDX), marking a significant milestone in blockchain-based institutional finance. The fund combines Apollo's diversified credit strategy with Centrifuge's tokenization technology and Plume's specialized blockchain infrastructure.

Available through Plume's Nest Credit protocol under the ticker nACRDX, the product represents a fusion of traditional finance expertise and decentralized technology. Centrifuge's infrastructure tokenizes shares of Apollo's flagship credit fund, while Plume's blockchain serves as the dedicated settlement LAYER for institutional-grade transactions.

This collaboration signals growing institutional acceptance of blockchain solutions for credit market access. The tokenized structure aims to streamline investment processes while maintaining the credibility of Apollo's established credit strategy.