PANews reported on May 21 that TownSquare, an RWA yield protocol, announced the completion of its Pre-A round of financing, bringing its total funding to approximately $16.25 million. The funds will be used to advance yield products based on institutional strategies and cross-chain brokerage services. The protocol focuses on bringing yields from institutionally backed on-chain assets to ordinary users. Currently, the scale of institutionally backed assets on-chain is approximately $36 billion, with yields exceeding the traditional 3%–5% level of US Treasury bonds. TownSquare will build a yield vault around the stablecoin USD1, tokenized gold, USDC, cbBTC, and other RWA assets, and is advancing a USD100 million pipeline plan with partners such as World Liberty Financial.