Growing Centrifuge with an investment from Coinbase

As crypto winter persists, we’ve continued to attract more capital and strategic partners. Let’s welcome Coinbase Ventures and L1 Digital to the CFG family!

At Centrifuge, we’re the first DeFi protocol to finance real-world assets (RWAs) on chain. Today we’re excited to announce a strategic funding round from prominent industry players, including L1 Digital, BlockTower, Scytale and Coinbase Ventures.

While the overall crypto market has cooled, I’d say RWAs are hot. We’re leading the charge. I’m happy to share that more and more people are buying into our vision and joining the Centrifuge community.

Earlier this year, we shared the news that BlockTower Capital entered into a strategic partnership with Centrifuge. Today we’re happy to share that we’re growing our network even more.

As many of you might have noticed in the last months, BlockTower has become a very involved member of our community. What’s most exciting about our work together is that we’re working to onboard $150M of assets to Maker through Centrifuge.

Thomas Klocanas, General Partner & Head of Ventures at BlockTower Capital shared his thoughts on RWAs and the future of finance:

The intersection of DeFi and traditional credit, often dubbed Real World Assets within the digital asset space, is one of our highest conviction theses at BlockTower across our strategies. We’re extremely excited about continuing to support Centrifuge, who have been pioneering this use case since early days, in their journey to re-platform private credit markets at scale.

While Anthony Bassili, Head of Asset Allocators for Coinbase, added his thoughts:

Coinbase has a mission of increasing economic freedom globally through open financial systems. A feature of a vibrant crypto economy that serves all kinds of participants, investors, businesses, and institutions requires access to more asset classes like credit on-chain. As institutional adoption of crypto continues to grow, real-world assets are a critical component for broad and diverse portfolio construction within the crypto economy.

We’re building the credit market of the future. Along with that, we need to build out the financial ecosystem for institutions to transact on chain. Partners like Coinbase and BlockTower are essential in building critical parts of this infrastructure, as Centrifuge becomes the go-to platform for real-world assets and on chain secured credit.

We hope you will join us on this journey as we keep on buidling.