Decentralized asset financing protocol Centrifuge has launched a new cross-chain Connectors solution dubbed Centrifuge Connectors to bridge the gap between the real-world asset (RWA) market and decentralized finance (DeFi).
Centrifuge Launches Cross-Chain Connectors
Centrifuge helps small businesses access more credit while providing stable yields for investors through its pooled liquidity from the world of traditional finance. The project bridges assets such as invoices, real estate, and royalties to DeFi and helps borrowers finance RWAs without banks and other intermediaries.
In a press release shared with CryptoPotato, Centrifuge noted that the new solution would help borrowers and investors access liquidity from different DeFi protocols without needing third-party integrations. This means that users can now add liquidity to Centrifuge pools without first bridging the assets to the Centrifuge chain.
“Centrifuge believes in the multi-chain future of DeFi. Today, we’re announcing Centrifuge Connecters, a hybrid cross-chain solution that combines the speed and efficiency of a bridge with the native experience of a protocol fork,” said Lucas Vogelsang, CEO and co-founder of Centrifuge.
The project said the Connectors is able to transfer verified and permissioned tokens from the pools to users across different chains by utilizing a set of Solidity smart contracts that are deployable on any EVM-compatible bridge.
Furthermore, users will be able to withdraw or invest directly into a pool using the native stablecoin of the target chain. Centrifuge said the product will be publicly available to users later this year.
Centrifuge Partners Ava Labs and Others
Centrifuge also noted that the Connectors was launched in collaboration with Ava Labs – the developer behind the Avalanche blockchain, smart contract platform Moonbeam, and optimistic interoperability protocol Nomad.
“In the multi-chain world, there are lots of novel and useful cross-chain applications that require interoperability (one of which is RWAs). That’s why we’re excited for Nomad to help power Connectors and assist Centrifuge in achieving its mission to bring on-chain liquidity to RWAs,” Danny Organ, Marketing Lead at Nomad, said.
Centrifuge Connectors adopts Nomad Bridge’s cross-chain functionality as its underlying infrastructure. Ecosystems currently supported by the product include Aave, Avalanche, MakerDAO, and Moonbeam. However, the project intends to expand the Connectors to other protocols in the coming months.
Meanwhile, earlier this year, Centrifuge and its marketplace for tokenized real-world assets Tinlake launched on Polkadot after winning the network’s 9th parachain slot.
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