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Centrifuge brings tokenized treasuries to Celo

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Centrifuge brings tokenized treasuries to Celo

Centrifuge, a platform for on-chain finance that’s taking the lead in the tokenized real-world assets ecosystem, has announced the first RWA transaction on Celo.

The platform revealed via a blog post on March 29 that the Celo ecosystem had allocated $1 million in US Treasuries on Centrifuge.

According to the announcement, members from the Celo ecosystem allocated the investment into the Anemoy Liquid Treasury Fund.

Anemoy, is a Web3-native asset manager whose LTF is a British Virgin Islands (BVI) licensed US Treasury fund. The fund has seen increased investor interest in recent months as investors eye low-risk yield.

“The Celo ecosystem views Centrifuge as a strategic partner in the wider Celo ecosystem to onramp additional asset classes, like private credit, which Centrifuge has a long history of bringing onchain in a safe, compliant way,” Celo’s Alex Witt said.

Tokenization craze boosts RWA tokens

Today’s news follows Centrifuge’s integration with Celo, an EVM-compatible blockchain. The two platforms announced the integration in January this year, tapping into cross-chain interoperability protocol Axelar.

Broader demand for tokenized Treasury bills, carbon credit pools and other assets has picked fresh upward trajectory with BlackRock’s foray into the RWA space.

As Invezz highlighted, the asset management giant unveiled its tokenized digital asset fund last week. The fund dubbed BlackRock USD Institutional Digital Liquidity Fund (BUIDL) hit the market running, with millions poured into it.

Financial giant HSBC is also among those to venture into the tokenized assets world. The company launched tokenized gold tokens this week.

Amid this, the crypto RWA market has seen a decent spike in related token’s values. Ondo (ONDO) rallied after BlackRock’s BUIDL debut. Polymesh (POLYX) and Pendle (PENDLE) are also among tokens to surge in the recent weeks.

Although it has pared more than 8% of gains in the past 24 hours, Centrifuge (CFG) is still up 40% in the last 30 days.

Notably, CFG price reached highs of $1.10 this week. Current price is more than 500% up since the lows seen in January last year.

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