Monad-Based DeFi Project TownSquare Raises $16.25M in Pre-Series A Funding

TownSquare, a DeFi money market protocol built on the Monad blockchain, has secured $16.25 million in pre-Series A funding from a diverse group of investors.

The funding round includes World Liberty Financial, Ouroscapital, Arcane, OKX Ventures, Animoca Brands, Amber Group, and Aptos, among others.

The funds will be used to strengthen TownSquare's revenue generation infrastructure, particularly in the areas of USD1 stablecoin initiative and tokenization of real-world assets (RWAs).

According to industry trends, RWA tokenization is expected to grow significantly as traditional asset managers explore blockchain-based settlement.