Cork

Cork Protocol, Inc. dba Cork is a US-based company specializing in programmable risk management solutions tailored for onchain assets, enhancing liquidity and transparency for institutional investors in the digital asset landscape. Cork Protocol, Inc. , founded in 2023 by its CEOs Phil Fogel and Rob Schmitt, COO Anna Stone, and headquartered in New York, US, focuses on providing innovative risk management solutions for onchain assets.

In January 2026, Cork raised USD 5. 5 million in seed funding co-led by Andreessen Horowitz and Road Capital Management, with participation from Depo Ventures, Funfair Ventures, BitGo Ventures, IDEO Ventures, Peer Venture Partners, Wagmi Ventures, Stake Capital, G20 Ventures, Gate Ventures, 432 VC, and GC&H Investments. The seed funding values Cork at USD 39. 79 million post-money.

Cork offers a programmable risk layer designed specifically for onchain assets, including real-world assets (RWAs), vault tokens, and yield-bearing stablecoins. Their core product functionality revolves around providing institutional-grade risk management solutions that enhance liquidity, transparency, and trust for asset managers. Cork’s offerings include instant liquidity buffers for illiquid asset pools, default coverage for stablecoins, and peg stability enhancements for asset issuers, addressing significant gaps in the current risk infrastructure as trillions of dollars transition to onchain systems. The company serves a diverse clientele that includes asset managers, liquidity providers, and vault operators, primarily targeting markets in North America, Europe, and Asia where onchain finance is rapidly evolving.

By enabling custom swap markets, Cork facilitates seamless trading and enhances the overall efficiency of asset management processes. Cork generates revenue through a combination of subscription-based services and transaction fees associated with its risk infrastructure offerings. Clients, including asset issuers and liquidity providers, engage with Cork's platform to buy protection against illiquidity or depeg events for their assets. For instance, an asset manager may subscribe to Cork's swap-based redemption layer, allowing them to enhance liquidity for their vaults and trade RWAs more efficiently.

Revenue is derived from these subscription fees, alongside transaction fees incurred during the exchange of liquid collateral, such as USDC or ETH, when clients exercise their protection options. The pricing structure is strategically designed to provide value to a range of users, ensuring that both asset managers and liquidity providers can optimize their onchain operations while benefiting from the tailored coverage solutions Cork offers. Cork plans to utilize the USD 5. 5 mn raised in SEED funding to develop its onchain risk platform and enhance tools for managing liquidity and risk in tokenized assets.

The company aims to introduce new products designed to improve risk management capabilities and expand its services into markets across North America, Europe, and Asia, where onchain finance is rapidly evolving. The initiatives are expected to commence following the most recent funding round concluded on January 21, 2026.