Centrifuge

RWA · Private Credit · CFG

NetworkRWACreditPrivate CreditDAO-GovernedInstitutional-GatedYield-Bearing2 coinsVerified

Centrifuge tokenizes illiquid real-world business assets (invoices, mortgages, trade finance) through bankruptcy-remote SPV structures. DROP/TIN senior-junior tranche tokens link legal collateral to on-chain investors; JAAA and JTRSY add tokenized CLO and Treasury exposure.

Tokenizing illiquid real-world business assets.

CFG price

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Research

Components, facts, FAQ, timeline, and tokenomics in one place

Main components (5)

Centrifuge V3

EVM-based protocol for onchain asset management, launched 2025 after migrating off the legacy Polkadot-based Centrifuge Chain. Provides chain abstraction and a unified interface for issuing and administering tokenized funds across 10+ Ethereum-compatible networks including Ethereum, Base and Arbitrum.

Tinlake

Centrifuge's original (2018/2020-era) open marketplace and investment dApp for financing tokenized real-world assets. Introduced the two-tranche DROP (senior) / TIN (junior) securitization model that gives investors differentiated risk-reward exposure to asset pools.

Pools & Tranches (DROP / TIN)

Asset originators (Issuers) create pools of tokenized RWAs; investors fund senior (DROP) and junior (TIN) tranches. TIN absorbs first losses and earns higher yield, DROP has payout priority — mirroring traditional structured-credit waterfalls.

RWA tokenization / NFTs

Real-world assets such as invoices, mortgages, trade-finance receivables and treasury holdings are represented onchain (originally minted as NFTs) and used as collateral to originate financing pools.

CFG token

Native ERC-20 utility and governance token. On 20 March 2025, governance proposal CP149 consolidated legacy token versions into a single Ethereum-native CFG used for voting on protocol development, treasury and risk frameworks.

Differentiator

Per-pool bankruptcy-remote SPVs with DROP (senior) / TIN (junior) tranches connect legal collateral to on-chain lenders.

Organizational structure

Units & roles

Centrifuge Network Foundation (CNF)
Funds research, development and maintenance of the Centrifuge protocol and ecosystem and provides governance and oversight of execution. Per proposal CP171 (Nov 2025), the CNF Board oversees strategy while operations move into Centrifuge Labs, its wholly-owned subsidiary.
Foundation / governance oversight
k/factory (k/f) & Centrifuge Labs
k/factory is a software studio founded by original protocol contributors who build Centrifuge per community direction. Under the 2025 restructuring, Centrifuge Labs (a wholly-owned CNF subsidiary) leads product, marketing, partnerships, distribution and revenue growth.
Core development studio

Investment rounds

Date	Round	Amount	Investors	Link
2021-02-23	Series A	undisclosed	Galaxy DigitalIOSG VenturesRockaway Blockchain FundFintech Collective	Source
2022-11-02	Strategic	$4M	BlockTower Capital	Source

Similarity to traditional finance products

How Centrifuge maps onto established TradFi structures, and where it diverges.

TradFi product	Similarity to Centrifuge	Key differences
Securitization / structured credit (ABS)	Centrifuge pools bundle income-producing assets (invoices, mortgages, receivables) and issue tranched claims (DROP senior / TIN junior) with a payment waterfall — the same senior/subordinated structure used in asset-backed securities.	Issuance, subscriptions, redemptions and the cap table are handled onchain via smart contracts and stablecoins rather than through banks, custodians and clearing houses, enabling smaller ticket sizes, near-real-time settlement and transparent onchain accounting.
Money-market / tokenized Treasury funds	Products like the Anemoy Liquid Treasury Fund give investors T-bill exposure much like a traditional government money-market fund.	The fund is issued as a transferable onchain token that settles 24/7, can be used as DeFi collateral, and is administered across multiple public blockchains instead of via a traditional transfer agent.