The company is doubling down on delivering decentralized finance (DeFi) to institutions.
dedicated to turning real world assets into loans, has raised $15 million in Series A funding led by ParaFi Capital and Greenfield.is doubling down on delivering decentralized finance to institutions, a plan announced Wednesday at Token2049 in Dubai.
The Series A was oversubscribed by $5 million, according to co-founder Lucas Vogelsang. Other investors included Circle Ventures, IOSG Ventures, Arrington Capital, the Spartan Group, and Wintermute Ventures.: The fundraising news comes with a proposal, penned by Vogelsang, to build a lending market called Centrifuge Pools.
Centrifuge Pools wants to deliver the utility on-chain that real-world assets like Treasuries have in traditional financial ecosystems. "Users can't hedge, speculate, borrow, or service liquidity needs with or on RWAs today," Vogelsang's proposal reads. "If DeFi wants to expand to institutions, the key infrastructure they already enjoy needs to be here first."is that the lending market would be built on Coinbase's Base network.
When asked why he's doubling down on DeFi at a moment when U.S. regulatory authorities don't seem very"The proposal to launch this structure with a legal wrapper is to ensure it is compliant and it's a big part of our focus."Share on linkedin
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