Business News Report Technology
April 17, 2024

Centrifuge Raises $15 Million In Funding From ParaFi Capital And Greenfield To Boost Adoption Of Institutional DeFi Solutions

In Brief

RWA protocol Centrifuge raised $15 million in a Series A funding round to propel the adoption of institutional DeFi solutions.

Centrifuge Raises $15 Million In Funding From ParaFi Capital And Greenfield To Boost Adoption Of Institutional DeFi Solutions

Real-world asset (RWA) protocol Centrifuge announced it has raised $15 million in a Series A funding round to propel the extensive adoption of institutional decentralized finance (DeFi) solutions. Venture capital firms ParaFi Capital and Greenfield led the investment, which was accompanied by Circle Ventures, IOSG Ventures, Arrington Capital, Spartan Group, and Wintermute Ventures, among other backers.

Centrifuge facilitates the tokenization of RWAs. By utilizing this platform, investors gain access to a wide array of assets, which enhances transparency and offers deeper insights into their investment portfolios. Additionally, asset managers can tokenize their funds, simplifying access to essential service providers and investors. This streamlined process reduces costs associated with fund operations and opens avenues for accessing new capital sources.

With the new funding, the company aims to focus on further developing its recently introduced on-chain fund management platform. This platform facilitates the integration of credit funds onto public blockchains, offering a smoother method of fund management. The company also plans to expand its offerings by generating additional integrations for lending, borrowing, and investing in RWAs. Additionally, Centrifuge will foster the expansion of its ecosystem and recruit new talent to expedite the platform’s adoption.

Detailing its future initiatives, Centrifuge intends to establish an institutional-grade lending marketplace for RWAs. This marketplace will be built on Base, the Ethereum Layer 2 incubated by cryptocurrency exchange Coinbase, and will be integrated with Know Your Customer (KYC) service Coinbase Verifications. These integrations will facilitate institutions’ swift and secure onboarding to RWAs.

In a post on social media platform X, Centrifuge expressed gratitude towards its supporters who resonate with the vision of advancing the financial system on the blockchain. Looking ahead, the team is increasingly enthusiastic about its mission to cultivate a more efficient, fairer, and inclusive financial system for all.

Centrifuge Pioneers Transformations In On-Chain Finance Since 2017

Founded in 2017, Centrifuge has witnessed notable achievements throughout its history, encompassing facilitating the mint of MakerDAO’s first RWA, structuring the first on-chain securitization, initiating the RWA Market in collaboration with Aave, and transitioning the operational activities of the first credit fund to the blockchain with BlockTower.

The company secured its last funding in 2022, raising $4 million in a strategic funding round from investors such as Coinbase Ventures, BlockTower, Scytale, and L1 Digital. This funding round followed a series of previous funding rounds and strategic collaborations undertaken by the company throughout the year.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

From Ripple to The Big Green DAO: How Cryptocurrency Projects Contribute to Charity

Let's explore initiatives harnessing the potential of digital currencies for charitable causes.

Know More

AlphaFold 3, Med-Gemini, and others: The Way AI Transforms Healthcare in 2024

AI manifests in various ways in healthcare, from uncovering new genetic correlations to empowering robotic surgical systems ...

Know More
Join Our Innovative Tech Community
Read More
Read more
Biswap Releases New Strategic Roadmap, Focuses On Multi-Chain Expansion And Introduction Of Liquid Staking
Markets News Report Technology
Biswap Releases New Strategic Roadmap, Focuses On Multi-Chain Expansion And Introduction Of Liquid Staking
May 24, 2024
Web3 AI Unveiled: Jimmy Zhao Unpacks How BNB Chain’s Integration of Blockchain and AI Redefines Trust, Transparency, and Decentralization
Interview Business Markets Software Technology
Web3 AI Unveiled: Jimmy Zhao Unpacks How BNB Chain’s Integration of Blockchain and AI Redefines Trust, Transparency, and Decentralization
May 24, 2024
Hyperliquid Unveils HIP-1 Spot Token Deployment Function On Its Mainnet, And Recommends Testing For Smooth Deployment
News Report Technology
Hyperliquid Unveils HIP-1 Spot Token Deployment Function On Its Mainnet, And Recommends Testing For Smooth Deployment
May 24, 2024
This Week’s Top Deals, Major Investments in AI, IT, Web3, and Crypto (20-24.05)
Digest Top Lists Business Lifestyle Markets Software Technology
This Week’s Top Deals, Major Investments in AI, IT, Web3, and Crypto (20-24.05)
May 24, 2024