Fence raises $20M from Galaxy to tokenize $6T asset-backed finance market
Fence netted $20 million from Galaxy Digital to tokenize a $6 trillion asset‑backed finance market that still runs on manual, legacy rails.Blockchain finance startup Fence has raised $20 million in funding led by Galaxy Digital.Fence aims to modernize the $6 trillion U.S. asset‑backed finance market through tokenization and automated infrastructure.The company already manages around $1.5 billion in assets and works with institutions such as BlackRock. Fence has secured a $20 million investment led by Mike Novogratzs Galaxy Digital to bring blockchain infrastructure to the roughly $6 trillion U.S. asset‑backed finance market, in one of the clearest recent bets on tokenizing legacy credit plumbing. According to Galaxy Digitals investment disclosure, Fence “leverages blockchain behind the scenes to automate and improve” asset‑backed lending workflows that today remain “labor‑intensive and highly manual,” positioning the firm as a back‑office rails provider rather than a consumer‑facing crypto platform. Fence says its system can tokenize lenders positions in financing instruments and, in some cases, the underlying loans and invoices themselves, effectively turning traditionally illiquid receivables into programmable, tradable claims. Galaxys RWA push meets credit market automation Fence reports that it currently manages approximately $1.5 billion in assets on its platform, working with marquee institutions including BlackRock, where it helps streamline the