Cork introduces a new primitive for tokenised risk, serving as a programmable risk layer for on-chain assets.
Tokenised risk infrastructure protocol, Cork, closed a US$5.5 million seed round led by Road Capital and a16z CSX, with participation from other VCs, including PEER VC, Stake Capital, and WAGMI Ventures.
The project aims to manage tokenised risk by serving as a programmable risk layer for on-chain assets such as vault tokens, yield-bearing stablecoins, and real-world assets. Cork’s core primitive enables asset managers and issuers to spin up custom swap markets that enhance redemption liquidity, risk transparency, and market confidence for their on-chain assets.
The project’s platform also introduces other capabilities such as standardised risk pricing, redemption liquidity backstops, and composable risk primitives.
“Tokenised risk is a conversation the industry has largely not been having over the past few years, and that is now changing with the onboarding of major institutions and maturation of the industry,” said Phil Fogel, Co-Founder of Cork. “We are building the foundational risk infrastructure layer that the next wave of users, both institutional and retail, will look to leverage.”
“The path to institutional on-chain finance runs through better risk infrastructure,” said Julien Bouteloup, CEO and Founder of Stake Capital Group. “Cork is enabling cleaner capital markets through transparent, market-driven risk pricing. We’re backing the team and the vision.”
Cork plans to use the funds to bring its first risk markets into production, expand integrations with vault and asset issuers, and support regulated product pathways as institutional adoption accelerates.
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