New York City – Centrifuge, a leading onchain finance platform, has secured a $1 million seed investment from Web3 Foundation, the steward of Polkadot, to tokenize US Treasury Bills. This strategic move aligns with Web3 Foundation’s commitment to fostering Web3 projects through financial support, advocacy, and collaborative efforts.
The collaboration signifies Web3 Foundation’s dedication to bringing real-world assets (RWAs) onchain, responding to the surging demand and narrative surrounding RWAs in the decentralized finance (DeFi) space. The investment will be directed towards Anemoy’s upcoming pool of US Treasury Bills on Centrifuge.
“With this collaboration between Centrifuge and Web3 Foundation, the stage is set for significant growth and innovation for real-world assets using Polkadot’s infrastructure and technology.”
Lucas Vogelsang, Co-Founder of Centrifuge
Real-world assets have emerged as a prominent theme in DeFi, with projections indicating a potential $16 trillion tokenization industry for global assets by the decade’s end, according to Boston Consulting Group. Centrifuge, a pioneer in the RWA space, has played a crucial role in advancing the industry.
Fabian Gompf, CEO at Web3 Foundation, emphasized their commitment, stating, “We believe this industry has massive potential and are steadfast in our commitment to help grow the industry and Centrifuge protocol. $1M is a start, and we fully expect to quickly grow beyond that.”
Anemoy, the inaugural real-world asset pool on Centrifuge Chain, focuses on tokenized short-term US treasuries. This innovative approach enables DAOs and onchain investors to access highly-liquid, low-risk returns. Anemoy, as a Web3 native asset manager, is designed to diversify the range of high-quality assets available on the Centrifuge platform.
Established in 2017, Centrifuge serves as the platform for onchain finance. Known for several industry firsts, including minting MakerDAO’s initial real-world asset, structuring the first onchain securitization, and launching the RWA Market with Aave, Centrifuge provides the infrastructure and ecosystem for tokenizing, managing, and investing in a diversified portfolio of real-world assets.
About Web3 Foundation
Founded in 2017 by Ethereum co-founder Dr. Gavin Wood, Web3 Foundation is a not-for-profit organization that supports Web3 teams and open-source projects. With a focus on funding, advocacy, research, and collaboration, the Foundation’s flagship project is Polkadot. Learn more at web3.foundation.
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