RWA stablecoin issuer Anzen Finance raises $4 million in seed funding

Mechanism Capital, Circle Ventures, Frax, Arca, Infinity Ventures, Cherubic Ventures, Palm Drive Ventures, M31 Capital, Kraynos Capital and others participated in the funding round, according to a release shared with The Block.

Anzen allows users to mint USDz, which is supported by "a diversified portfolio of private credit assets," the company release continues. These cash-flowing RWAs collateralize USDz, and the token can be staked throughout other DeFi protocols. Anzen is live on the Layer 1 Ethereum and the Layer 2 network Base.

"We'll focus on adoption and new use cases for USDz across partner protocols and multiple chains," Shyong said. "This means that Anzen users will have plenty of opportunities with many dApps to earn rewards as a USDz holder. For example on Base, there's a USDz-USDC liquidity pair on Aerodrome where USDz holders can earn Aero incentives."

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