Centrifuge Integrates Fireblocks RWA Custody

Centrifuge is integrating support for Fireblocks in the latest example of the tokenized real-world asset (RWA) sector's maturation.

On Oct. 21, an RWA tokenization and financing platform, integrated Fireblocks, an institutional-facing digital asset custodian.

The move allows Centrifuge asset managers to launch and manage funds using Fireblocks to custody both Centrifuge-native RWAs and its CFG token. The move also makes Centrifuge available to more than 2,000 institutional counterparties using Fireblocks Network.

“By integrating Centrifuge, we will help meet the growing demand for real-world asset tokenization, as well as bringing these assets on-chain,” said Idan Ofrat, chief product officer at Fireblocks. “With a growing list of over 80 supported blockchains, Fireblocks enables our customers to securely custody tokens on the latest chains and quickly build innovative services for their customers.

"We're excited to integrate Fireblocks to bring our customers closer together and simplify the process of issuing and managing tokenized RWAs for asset managers,” said Bhaji Illuminati, chief marketing officer of Centrifuge.

Centrifuge is an on-chain credit protocol enabling users to provide financing to real-world businesses. Users gain access to a variety of assets, including asset-backed securities, real estate, and invoice financing as both a source of yield and collateral underpinning loans.

Fireblocks has facilitated more than $6 trillion worth of digital asset transfers, and counts major banks such as BNY Mellon and BNP Paribas among its clients.

Centrifuge adoption

Centrifuge currently hosts a total value locked (TVL) of $152 million across its RWA credit pools.

Centrifuge has hosted $652.9 million worth of asset financing to date, up nearly triple since the start of 2023, according to Dune. BlockTower’s four pools offering exposure to asset-backed securities and consumer loan obligations account for 51.4% of the total, followed by New Silver’s three real estate-backed pools with 25.3%

New Silver Series 2 is Centrifuge’s largest active pool with a TVL of $41.7 million, followed by Anemoy’s Liquid Treasury Fund (LTF) with $36.1 million.

LTF positions Centrifuge as the eighth-largest tokenized treasury issuer, according to rwa.xyz. On Sept.13, Centrifuge announced that Janus Henderson, a $335 billion asset management firm, was taking over the management of LTF.

In April, Centrifuge announced it closed a $15 million Series A funding round co-led by ParaFi Capital and Greenfield.

The price of CFG is up 2% over the past 24 hours, according to The Defiant’s crypto price feeds.