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Investors in the round include Coinbase Ventures, BlockTower, Scytale and L1 Digital. BlockTower’s backing is more than just a simple VC investment, however. The BlockTower credit team has secured approval to be onboarded as a collateral provider to MakerDAO. BlockTower is set to provide $70m in junior capital alongside Maker's contribution of $150m to create a $220m pool on Centrifuge.
"Tokenizing very liquid, very well-established assets is only a marginal increase in utility,” Lucas Vogelsang, CEO and co-founder of Centrifuge, said in an interview with The Block. Hence the startup focuses on the private credit market because it's “largely illiquid" and "very untransparent."
https://www.theblock.co/post/182058/centrifuge-raises-strategic-round
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