As per a recent report, Centrifuge, a platform providing tokenization of real-world assets (RWA) via its flagship protocol, has successfully raised $15 million in Series A funding. ParaFi Capital as well as Greenfield supported the round.
Centrifuge stated in a press release that the funding will enable the company to build what they call the “universal gateway” – a platform that will allow institutions to access the massive liquidity available on-chain through a user-friendly interface. This requires creating a lending market on the Ethereum Layer 2 Base, with Coinbase Verification integration to ensure a secure KYC process.
The company is the first to combine traditional finance (TradFi) and DeFi through the tokenization of RWAs. The company has built a blockchain-based financial platform that provides the public with open blockchain capabilities and allows them to credit funds on the blockchains.
In addition, Centrifuge will use the cash to promote and support the growth of the DeFi ecosystem. This committee includes reputable members such as Coinbase and Polygon. Furthermore, the company plans to revitalize its business operations through hiring and expand the use of its solutions in the decentralized banking industry.
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