City Protocol raises $11M in seed and pre-Series A funding

On-chain structured products infrastructure provider City Protocol announced it raised a total of $11 million in seed and pre-Series A funding. Participants in the round included Dragonfly Capital, Jump Crypto, CMT Digital, Stratified Capital, Adaverse and Mirana. City Protocol said it is developing structured products on blockchain through an integrated infrastructure that supports issuance, operations and underwriting across a tokenization layer, a vault layer, and an issuance and operations layer. It also operates its core platform, Venzo, and plans to launch thematic vaults through Venzo that will allow users to manage portfolios directly within their wallets.