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- Centrifuge has concluded its Sequence A funding spherical.
- The spherical was co-led by ParaFi Capital and Greenfield.
- The protocol secured a strategic funding for its mission.
Real-world asset lending protocol Centrifuge introduced Wednesday the conclusion of its multimillion-dollar Sequence A funding spherical, which ParaFi Capital and Greenfield co-led.
Since its launch in 2017, Centrifuge has been on the forefront of real-world asset (RWA) tokenization, pioneering the way in which to bridge conventional and decentralized finance (DeFi). The corporate’s latest launch of its on-chain fund administration platform to onboard credit score funds to public blockchains additional solidifies its place as an trade chief.
Centrifuge Baggage $15M Funding
In a press release dated April 17, Centrifuge stated its oversubscribed Sequence A funding spherical yielded a strategic funding of $15 million. The protocol will use a part of the fund to create a “common gateway” to on-chain liquidity by way of a complete and user-friendly fund administration platform.
This consists of constructing and deploying an institutional-grade lending marketplace for RWAs, constructed on the Ethereum Layer 2 community Base and built-in with Coinbase Verification.
“These integrations will enable establishments to rapidly and safely onboard to real-world property. The true-world asset market provides immediate liquidity and the power to borrow towards real-world asset holdings, all with out sacrificing compliance or regulatory necessities,” the protocol stated.
Along with product innovation, Centrifuge stated it could use the funding to domesticate ecosystem development by constructing on the Tokenized Asset Coalition, of which the protocol is a founding member. Different coalition members embrace Coinbase, Circle, Solana Basis, Polygon, Fireblocks, Ava Labs, and extra.
Per the assertion, the protocol may even use the funding to make strategic hires to speed up innovation and adoption.
Keep up to date on why Parcl’s TVL plunged 40%:
Parcl TVL Plunges 40% Following 80M PRCL Airdrop to Users
Keep up to date on MANRTA CEO’s tackle RWAs:
RWAs Are on the Rise: MANTRA CEO Discusses Their Future
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