Blockchain Project Centrifuge (CFG) Raises Several Million Dollars From Major Investors Including Coinbase And BlockTower –

Despite the ongoing cryptocurrency bear market, some promising blockchain projects like Centrifuge (CFG) manage to raise significant funds from major investors in the sector.

As such, Blockchain Protocol Centrifuge (CFG) has announced a $4 million fundraiser from Coinbase Ventures, BlockTower Capital, L1 Digital and Skytale.

Anthony Bassili, Head of Asset Allocation at Coinbase Institutional, said:

“Coinbase is on a mission to increase economic freedom around the world through open financial systems. The feature of a dynamic crypto-economy that caters to all participants, investors, businesses and institutions requires access to more asset classes such as blockchain credit. As the institutional adoption of crypto continues to grow, real assets are an important building block for building a broad and diverse portfolio in the crypto economy. »

Crypto project founded in 2017 Centrifuge bills itself as the first DeFi protocol for Real Asset Funding (RWA) on the blockchain.
With Centrifuge, borrowers can finance their real assets without having to turn to banks or other intermediaries.
Centrifuge’s companion decentralized application (dApp), Tinlake, is a real tokenized asset marketplace.
With Centrifuge, companies tokenize non-cryptocurrency assets such as mortgages, bills, and consumer loans to create asset-backed pools. Once on the blockchain, these assets are unlocked and traded directly with investors to provide liquidity.

Lukas Vogelsang, CEO and co-founder of Centrifuge, commented:

“We are building the credit market of the future, and along with that, we need to develop the financial ecosystem so that institutions can transact online.

Partners such as Coinbase and BlockTower are playing a key role in building critical pieces of this infrastructure as Centrifuge becomes an affordable platform for real assets and secure credit online. »

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Following this very positive announcement of the Centrifuge blockchain project, the price of CFG on Kraken jumped from $0.23 to $0.36.

As Binance CEO Changpeng Zhao recently reminded, the current crypto winter is the time when promising blockchain projects of tomorrow are being built.
An innovative project that tokenizes real assets on a blockchain, Centrifuge (CFG) has attracted investors such as Coinbase to continue its already fairly advanced development.

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