City Protocol Scores $11M to Fuel Tokenized Structured Products Push

City Protocol has secured $11 million in funding across seed and pre-A rounds to develop its three-layer infrastructure for tokenized structured products. The company's flagship platform, Venzo, currently holds around $30 million in TVL and hosts four strategy vaults covering quantitative hedging, cross-exchange arbitrage, private credit, and on-chain yield.

The funding round was led by Dragonfly, Jump Crypto, CMT Digital, Stratified Capital, Adaverse, and Mirana. City Protocol's infrastructure splits its stack into three components: a tokenization layer, a vault layer for deposits and withdrawals, and an issuance and operations layer that handles NAV calculations and rebalancing.

The company is targeting strategy providers, asset managers, and platforms that want to issue and distribute structured products without rebuilding bespoke vault and operations infrastructure. This approach positions Venzo alongside other vault-based access models that blend crypto-native strategies with private credit and RWA yield.