Centrifuge Raised $15 Million in a Series A Funding Round

Centrifuge has announced plans to develop a real-world asset (RWA) lending protocol for institutions on Base, the second-tier Ethereum network created by Coinbase.
New Lending Protocol for Institutional Investors
This announcement follows news that Centrifuge has raised $15 million in a venture capital funding round led by ParaFi Capital and Greenfield, with participation from Arrington Capital, Circle Ventures, Gnosis, The Spartan Group, and Wintermute Ventures.
The new protocol will allow vetted institutions to purchase RWAs and obtain credit against these assets. 
“We continue to see significant interest from our institutional customers in simplifying access to tokenization solutions on the chain,” said Anthony Bassili, head of distributors and tokenization at Coinbase.
After the announcement, Centrifuge's token, CFG, rose 14% before the start of the paring, outperforming other DeFi tokens by 5% in the last 24 hours, according to CoinGecko. This contrasts with a 1% CoinDesk DeFi Index (DCF) drop over the same period.
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Centrifuge's Role in the DeFi Landscape
Centrifuge's initiative comes as interest in RWA tokenization is growing. Digital asset companies and global banks seek to use blockchain technology to improve the efficiency, speed of settlement, and transparency of traditional financial products such as bonds and loans. According to the forecast of the asset management company 21.co, the tokenized assets market will reach USD 10 trillion by the decade's end.
Centrifuge remains one of the largest blockchain-based lending platforms, continually evolving the decentralized finance (DeFi) landscape by combining traditional financial assets with blockchain technology.