A centrifuge, which is a prominent platform for tokenizing real-world assets (RWAs) via the foremost protocol, has secured $15 million during its Series A financing. This round received investments from ParaFi Capital and Greenfield.
The company was a pioneer in connecting the worlds of traditional finance (TradFi) and decentralized finance (DeFi) by tokenizing Reinsurance Assets Warrants (RWAs) on its blockchain financial platform. This platform makes open blockchains accessible to the general public and allows credit funds to operate on the chains.
In a recent press announcement, Centrifuge shared that their investment will facilitate the creation of what they term as the “universal entrypoint.” This innovative solution is expected to offer institutions an intuitive way to tap into the vast liquidity present on-chain. The project encompasses building a lending market on Ethereum‘s Layer 2 foundation, with Coinbase Verification integration to ensure a secure Know Your Customer (KYC) process.
Furthermore, Centrifuge intends to use the funds not only for that purpose but also to boost and cultivate the DeFi sector. This group includes notable figures such as Coinbase and Polygon. Additionally, the company will stimulate its operations by hiring new staff and improving the implementation of their technologies in the decentralized finance market.
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2024-04-18 02:12