Credbull launched what it called the "first permissioned on-chain private credit fund" on the Polygon PoS blockchain in April and announced a $5.20 million funding round led by GnosisVC, with strategic participation from Outlier Ventures, HODL Ventures, XBTO, LucidBlue Ventures, CryptoHedge, Marcello Mari (SingularityDAO) and others. According to the team, "Credbull aims to democratize private credit RWA investing by connecting traditional finance with Web3."