Despite a long-lasting bear market in cryptocurrencies, some promising blockchain projects like Centrifuge (CFG) manage to raise substantial funds from the industry’s top investors.
The blockchain protocol Centrifuge (CFG) announced a $ 4 million fundraiser Neighbor Coinbase Ventures, BlockTower Capital, L1 Digital and Scitale.
Anthony Bassili, Head of Asset Allocations for Coinbase Institutional, said:
“Coinbase has a mission to increase economic freedom globally through open financial systems. A feature of a vibrant crypto economy that serves all types of participants, investors, businesses and institutions requires access to multiple asset classes such as blockchain credit. As institutional adoption of cryptocurrencies continues to grow, real-world assets are an essential element in building a large and diverse portfolio within the cryptocurrency economy. “
Founded in 2017, the crypto Centrifuge bills itself as the first DeFi protocol to finance real world assets (RWAs) on the blockchain.
With the help of Centrifuge, borrowers are able to finance their real-world assets without having to go through banks or other intermediaries.
Centrifuge’s decentralized application (dApp), Tinlake, is a marketplace for real-world tokenized assets.
With Centrifuge, companies tokenize non-crypto assets such as mortgages, bills and consumer loans, to create asset-backed pools. Once on the blockchain, these assets are unlocked and traded directly with investors to provide liquidity.
Lucas Vogelsang, CEO and co-founder of Centrifuge, commented:
“We are building the credit market of the future and, in parallel, we need to develop the financial ecosystem so that institutions can carry out chain transactions.
Partners such as Coinbase and BlockTower are key to building critical parts of this infrastructure as Centrifuge becomes the reference platform for real-world resources and for guaranteeing on-chain credit. “
Following this very positive announcement for the Centrifuge blockchain project, the The CFG price jumped from $ 0.23 to $ 0.36 onwards kraken.
As Binance CEO Changpeng Zhao recently recalled, the current cryptocurrency winter is when the high-potential blockchain projects of tomorrow are built.
An innovative project that tokenizes real assets on the blockchain, Centrifuge (CFG) has convinced investors like Coinbase to continue its already advanced development.
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