TownSquare completes Pre-A round financing, with total funding reaching 16.25 million USD

According to The Block, the RWA yield protocol TownSquare announced the completion of its Pre-A round financing, bringing its total financing to approximately $16.25 million. The funds will be used to advance yield products based on institutional strategies and cross-chain brokerage services.

The protocol focuses on bringing yield from institution-backed on-chain assets to ordinary users. Currently, the scale of institution-backed assets on-chain is approximately $36 billion, with yields exceeding the traditional 3%-5% level of U.S. Treasury bonds. TownSquare will build yield vaults around stablecoin USD1, tokenized gold, USDC, cbBTC, and other RWA, and will work with partners like World Liberty Financial to advance a USD1 pipeline plan with a scale of about $100 million.