Centrifuge and BlockTower Form Strategic Alliance to Accelerate Development of Real-World Assets in DeFi

Key takeaways:

• Centrifuge and BlockTower have announced that $3 million have been raised in April’s treasury token sale as a part of the strategic alliance between the two companies
• As a part of the partnership, BlockTower will facilitate the flow of institutional capital in the real-world assets (RWAs) space
• Centrifuge allows businesses to tokenize RWAs to build liquidity pools and lets businesses transact with investors without middlemen

Centrifuge and BlockTower aim to accelerate institutional adoption of DeFi and RWAs, announce a $3M treasury token sale

Centrifuge, a protocol connecting decentralized finance (DeFi) and real-world assets (RWAs), has entered a strategic alliance with BlockTower, a blockchain-focused institutional investment firm. As a part of the deal, BlockTower will facilitate the flow of institutional capital to the Centrifuge protocol and thus accelerate the development of RWAs. To this end, more than $3 million was raised in a first-round treasury token sale that was held in April.

According to Centrifuge CEO and co-founder Lucas Vogelsang, a partnership between Centrifuge - the leading DeFi protocol in the RWA space - and BlockTower will help “accelerate the adoption of DeFi in institutional capital.” Vogelsang added:

“The value of Real-World Assets to DeFi is becoming increasingly clear as the technology matures and we see first major successes in this space.”

Centrifuge allows enterprise clients to tokenize real-world assets, such as consumer credit, mortgages, and invoices, to create blockchain-based asset-backed pools that can offer lucrative investment opportunities. This innovative financial mechanism facilitates the creation of a decentralized credit ecosystem that lets businesses cut any middleman and transact with investors directly. Investors are incentivized to provide liquidity in the asset-backed pools with Centrifuge Tokens (CFG),

BlockTower CEO and co-founder Mathew Goetz had this to say about the collaboration with the Centrifuge team:

“BlockTower is excited to support the Centrifuge team as they democratize access to and generate efficiencies in the securitization industry; we believe these strategic partnerships are essential to usher in the future of finance.”

Centrifuge and BlockTower will attend the Permissionless conference that will be held in Miami from May 17 to May 19. The two companies will provide an in-depth overview of RWAs in decentralized finance and speak to ample investment opportunities that institutional investors can pursue in the space.

Centrifuge’s native CFG token has been trending upwards on the news. The price of CFG increased by more than 15% in the last 24 hours and currently stands at $0.309872 per token.