TBW Awards 2024: Centrifuge voted best financing and investment project

Wednesday, February 21, 2024

The German start-up has become a key player in 2023 liquidity management for the arrival of RWAs (Real World Assets) on the blockchain.

After a dazzling start in 2020-2021, tokenisation players such as Centrifuge have been hit hard by the market downturn. However, renewed interest from major financial institutions has revived the trend for "RWAs" (Real World Assets) to arrive on the blockchain.

Launched in 2018, Centrifuge is a platform that allows investors to deposit RWAs as collateral, which will be represented in the form of NFTs (non-fungible tokens) to then be able to borrow crypto liquidity. Centrifuge manages this liquidity itself, working with a number of major protocols such as Aave and Maker.

According to RWA.xyz, Centrifuge currently accounts for 43% of private lending, i.e. lending that does not go through a banking institution, and is well ahead in proportion of its main competitors in the field, Maple and Goldfinch, with almost $270 million in outstanding loans.

According to our information, the start-up is even on the verge of completing a funding round of around €10 million.

"Many companies have launched into the tokenisation of Real World Assets by targeting this or that theme, be it real estate, equities or currency," explains the head of a US crypto fund. "But the real challenge is managing the liquidity and financing of these tokenised products on blockchain. And for that, you need players like Centrifuge", he concludes.

Among the other nominees in the category: Curve, Kiln, Bitstamp and Angle.

The election was partly held with the participation of The Big Whale community but without any intervention from the team. Find out more about the voting process.

This analysis is not investment advice. It has been prepared without taking into account your personal situation, particularly your financial situation, risk profile, and investment objectives.

Before investing in any product, investors should fully understand the risks involved and consult their own legal, tax, financial, and accounting advisors.

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