Crypto Oracle Firm RedStone Acquires DeFi Credit Specialist Credora

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RedStone, a provider of oracle data feeds for blockchains, is buying Credora, an on-chain credit rating platform backed by Coinbase Ventures, S&P, and Hashkey, among others. The financial terms of the deal were not revealed.

The oracle-powered risk rating framework for assets and yield strategies focused on decentralized finance (DeFi) will operate under the new brand Credora by RedStone, the companies said in a press release on Thursday.

Data shows that the growth of rated DeFi strategies (i.e., Morpho Vaults) outpaces unrated strategies by as much as 25%, validating user utility, RedStone pointed out. The acquisition aims to do for decentralized markets what the likes of S&P and Moody

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