- Market Overview
- Partnership and Assets
- Benefits and Goals
Centrifuge, a blockchain startup focused on real-world asset (RWA) tokenization, announced the launch of a new institutional lending marketplace in partnership with crypto exchange Coinbase and lending firm Morpho.
Market Overview
The new lending platform will operate on Coinbase’s Ethereum layer-2 network Base and will utilize three U.S. Treasury-backed assets tokenized for collateral.
Partnership and Assets
This lending platform combines Coinbase’s Base network and Morpho Vaults with Centrifuge’s Anemoy Liquid Treasury Fund (LTF), Midas Short Term US Treasuries (mTBILL), and Hashnote’s US Yield Coin (USYC) tokenized Treasury bonds.
Benefits and Goals
This initiative aims to provide institutions with a streamlined way to collateralize and borrow against these assets. Tokenizing traditional financial instruments like Treasury bonds on blockchains has gained traction in recent years, and Centrifuge has been a pioneer in this space since 2017.
This project marks the first time a permissioned lending marketplace has used Coinbase Verifications, allowing users to self-prove that they have completed KYC requirements through Coinbase, following the Ethereum Verification Standard.
