Decentralized finance project Centrifuge (CFG) skyrocketed when it announced that it has raised $15 million in funding.
The Centrifuge team announced on April 17th that they raised $15 million to strengthen the adoption of DeFi. The funding round was led by GREEN_FIELD and ParaFi.
The details of the announcement indicated that the proceeds from this Series A funding round will be used for ecosystem developments, further integration, and DeFi efforts. They also emphasized their leadership in real-world assets (RWA):
Centrifuge has raised $15 million to strengthen the adoption of institutional DeFi. Leveraging the scalability and usability of the entire DeFi ecosystem, we continue to build more integrations to lend, borrow, and invest in real-world assets.
Following the positive announcement, CFG price experienced a sudden surge. Showing a 25% increase according to CoinGecko data, CFG is currently trading at $0.79 at the time of writing.
