Brix, a startup focused on tokenizing high-yield emerging market assets, announced a $5.5 million funding round on April 15, 2026. Brix tokenizes real-world assets like money market funds and equities for onchain access via DeFi. The round drew investments from FRWRD Ventures, Is Asset Management, Circle Ventures, ConsenSys, Paribu, and individuals Will Price and jez. Brix plans to launch its first product, iTRY, a Turkish lira money market fund-backed token offering around 45% APY, on April 20 via MegaETH’s World Markets platform.
Funding Overview
Brix secured $5.5 million in a funding round ahead of iTRY’s public launch. The round drew participation from FRWRD Ventures, the venture arm of Turkish bank Yapi Kredi, and Is Asset Management, the asset management subsidiary of Is Bank. Additional investors included Circle Ventures, ConsenSys, and Paribu, along with individual investors Will Price and jez.
The funds will support the tokenization of assets from emerging markets, beginning with Turkish lira money market funds. As part of broader web3 fundraising updates, the investment highlights rising institutional confidence in real-world asset (RWA) tokenization and the expansion of DeFi into traditional financial markets. Brix’s yield products are expected to integrate across the MegaETH ecosystem for enhanced composability.
About the Company
Brix tokenizes high-yield emerging market assets for onchain trading and DeFi use. The company partners with local financial institutions to originate and manage underlying assets like money market funds, equities, and bonds. Brix handles onchain distribution.
Co-founder and CEO Alp Ergin stated that Brix combines partnerships with local enterprises and DeFi expertise. Future products target markets including the UAE, Egypt, Mexico, Brazil, and South Korea. iTRY provides exposure to Turkey’s high-interest environment, where the central bank rate nears 40%. Last year, the Turkish lira carry trade returned about 25% net in USD terms.
Investors
- FRWRD Ventures (Yapi Kredi’s venture arm)
- Is Asset Management (Is Bank’s subsidiary)
- Circle Ventures
- ConsenSys
- Paribu
- Will Price
- Borderless Capital
- jez
Will Price noted that emerging markets offer opportunities as rates compress elsewhere. Brix matches central banks and institutions with onchain demand.
Market Context
Emerging markets represent 38% of the global economy and 60% of growth. High-yield trades like the Turkish lira carry trade have been limited to institutions such as Goldman Sachs.
Brix enables retail and DeFi access to these strategies via tokenization on MegaETH. MegaETH positions as a real-time Ethereum scaling network with high throughput, low latency, and sub-second block times. Its mainnet launched earlier in 2026.
MegaETH Chief Strategy Officer Namik Muduroglu described Brix as extending crypto’s role in breaking financial barriers. iTRY launches via World Markets on MegaETH.
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