Gauntlet, the DeFi risk curator led by Tarun Chitra, closed a $125 million Series C solely backed by Japan's SBI Holdings, the company announced.

The Japanese conglomerate has made bets on other crypto protocols, including the lender Morpho and the blockchain Arc.

Chitra said he expects tokenization and vaults to grow the DeFi market faster than overall stablecoin growth over the next few years.

Gauntlet, the DeFi risk curator led by Tarun Chitra, closed a $125 million Series C solely backed by Japan's SBI Holdings, the company announced.