We are delighted to announce our collaboration with Centrifuge as the first institutional custodian for the Centrifuge token. Institutional investors who wish to diversify their portfolios and participate in the Centrifuge ecosystem will now be able to rely on Finoa’s services. As we maintain our efforts to stay at the forefront of technological developments by adding early support for innovative projects, we see the Substrate ecosystem as a space with great potential that we are proud to support.
Centrifuge is more than a traditional network token. Because basic functionality is delegated to Polkadot, the CFG token can be used for Centrifuge-specific utility. CFG works differently and is used for both standard network functions such as chain security and transaction fees, as well as a unique utility including on-chain governance. Users have incentives to participate in the network through Centrifuge token rewards. As a result, the users are directly empowered to operate, control, and gain value from the platform.
“We see Centrifuge as one of the first steps of DeFi starting to make its way into mainstream financial services. The community, as well as the investors, understand that the adoption of DeFi applications for real-world assets is inevitable, so we are proud to support a protocol with this vision embedded into its DNA”, said Alberto Navarro, Product owner at Finoa.
Finoa is always looking to provide support for new and in-demand tokens. If you are planning on getting exposure to Centrifuge, or if you are interested in learning more about our future roadmap and additional token and protocol support, please reach out to us here.