Cryptocurrency exchange Coinbase is deepening its strategy to move real-world assets onto the blockchain.
The company partnered with Centrifuge, a company operating in the tokenization field, making a “seven-figure” investment in the startup and selecting its platform as the main tokenization partner for the Base network.
The centrifuge-related altcoin $CFG experienced a sudden surge following the development. As of writing, $CFG has gained 10% in value over the last 24 hours.
Centrifuge will now be the core infrastructure provider on the Base network, developed by Coinbase, enabling exchange-traded funds (ETFs), loan funds, structured products, and other real-world assets (RWA) to be traded on the blockchain.
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Base DeFi Head Zachary Frey stated that after a comprehensive evaluation process, Centrifuge stood out due to its scalable infrastructure, enterprise-focused approach, and long-term vision. While the financial details of the agreement were not disclosed, Centrifuge CEO Bhaji Illuminati said that Coinbase has historically made strong investments in projects that align with its long-term vision.
As part of the partnership, Centrifuge will offer an end-to-end infrastructure providing tokenization tools, asset structuring solutions, yield APIs, compliance systems, and integration with DeFi protocols. This aims to abstract complex processes while maintaining institutional standards. Anil Sood, Centrifuge’s CSO and CGO, stated that integration with Coinbase’s extensive distribution network will enable reliable and compliant scaling of high-quality assets.
*This is not investment advice.