Real world asset lending protocol Centrifuge C.F.G
-2.68%
has announced the completion of a $15 million Series A financing round.
The company plans to build a decentralized, institutional-quality financial lending market for RWAs, built on Coinbase’s Base Layer 2 and integrated with Coinbase Verification.
“DeFi has always been about accessibility, transparency and interoperability, making markets more open, fair and decentralized, and we are bringing these innovations to institutions in a compliant and secure way,” said Lucas Vogelsang, co-founder of Centrifuge.
Market for RWA loans built on Base
According to a Wednesday press releasethe integrations with Coinbase will enable institutions to quickly and securely access tokenized real-world assets.
“Centrifuge is a pioneer in real-world assets and is now scaling using Coinbase Verifications and Base as the open-source settlement layer. This is an important step in ensuring that institutional clients can securely interact with Centrifuge can build within the Coinbase ecosystem,” said Anthony Bassili, Head of Allocators and Tokenization at Coinbase.
The company plans to use the funding to boost its product development and position itself as the bridge between traditional and decentralized finance by building a compliant platform for institutional Defi adoption.
The Series A round was oversubscribed and included investments from Circle Ventures, IOSG Ventures, Arrington Capital, the Spartan Group and Wintermute Ventures.
Institutional adoption of RWA tokenization
Centrifuge is a real-world asset tokenization protocol that aims to securitize and integrate structured credit markets on the blockchain, enabling the representation and trading of RWAs as tokens. This enables greater liquidity, efficiency and accessibility in traditionally illiquid markets.
According to ParaFi founder and managing partner Ben Forman, institutional adoption of real-world asset tokenization is now the most valuable opportunity within the cryptocurrency ecosystem.
He added that this “involves the migration of all existing and new assets to a composable ledger, stocks, bonds, currencies, commodities, collectibles, tickets, media, content, etc.” entails.
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