🇸🇦 العربية 🇩🇪 Deutsch 🇬🇷 Ελληνικά 🇺🇸 English 🇪🇸 Español 🇫🇮 Suomi 🇫🇷 Français 🇮🇳 हिन्दी 🇮🇹 Italiano 🇯🇵 日本語 🇰🇷 한국어 🇳🇱 Nederlands 🇳🇴 Norsk 🇵🇱 Polski 🇧🇷 Português 🇷🇺 Русский 🇸🇪 Svenska 🇵🇭 Filipino 🇹🇷 Türkçe 🇻🇳 Tiếng Việt 🇨🇳 中文

What Is Centrifuge?

Centrifuge (ticker CFG) is a protocol for bringing real-world assets (RWAs) onchain. It provides infrastructure that lets asset managers tokenize, manage, and distribute funds and credit products, such as tokenized US Treasury funds and collateralized loan obligations, while giving investors onchain access to yields that were traditionally locked inside the legacy financial system. Centrifuge is one of the longest-running projects in the RWA category, and by 2026 it had grown to more than 1.8 billion dollars in total value locked.

Centrifuge was founded in Berlin in 2017 by Lucas Vogelsang and Martin Quensel, together with other colleagues from Taulia, a supply chain finance company that Quensel co-founded. Vogelsang led the company as CEO until early 2025, when Bhaji Illuminati, previously its chief marketing officer, took over as CEO and Vogelsang moved to a board role. The team's original thesis was to tokenize invoices and other receivables so small businesses could access financing directly from crypto liquidity rather than from banks.

The protocol's architecture has evolved through three eras. The first product, Tinlake, launched on Ethereum in 2020 and let asset originators pool real-world collateral such as invoices and real estate bridge loans, issuing senior DROP and junior TIN tranche tokens to investors; Tinlake pools became some of the first real-world asset collateral in MakerDAO. In the second era, Centrifuge launched its own proof-of-stake blockchain, Centrifuge Chain, in 2020; its native token, originally called RAD, was renamed CFG in 2021, and the chain won a parachain slot to join the Polkadot network in early 2022. The third era began in 2025 with Centrifuge V3, a multi-chain protocol built natively for EVM networks. V3 launched in July 2025 across six chains and has since expanded to roughly ten, including Ethereum, Base, and Arbitrum, and the original Polkadot-based chain was deprecated.

Alongside the V3 launch, the CFG token itself migrated. Governance proposal CP 149, passed in March 2025, consolidated the legacy parachain CFG and the Wrapped CFG (wCFG) token into a single Ethereum-native ERC-20 token at a 1:1 ratio. The migration ran from May 2025 until December 3, 2025, after which the legacy chain's bridge was fully shut down. CFG is used for governance of the protocol; as of 2026, total supply is roughly 697 million tokens with no hard cap, and a 3 percent annual inflation rate directs new tokens to the Centrifuge treasury.

Centrifuge's flagship products are institutional tokenized funds. The Janus Henderson Anemoy Treasury Fund (JTRSY), a tokenized US Treasury bill fund managed with asset management giant Janus Henderson, grew past 500 million dollars in assets after winning a 200 million dollar allocation from Sky's Spark in its Tokenization Grand Prix, an allocation later expanded to 400 million dollars. A companion fund, JAAA, tokenizes AAA-rated collateralized loan obligations. In 2025 Centrifuge and S&P Dow Jones Indices announced the first tokenized S&P 500 index fund, licensed directly from the index provider; the fund token, SPXA, went live on the Base network later that year. Centrifuge also launched deRWA tokens, freely transferable versions of its fund shares (such as deJTRSY and deJAAA) that can move across Ethereum, Base, Arbitrum, Avalanche, Solana, and Stellar and plug into DeFi protocols.

Tokenized credit still carries real-world repayment risk, and Centrifuge's history reflects that honestly: some early Tinlake credit pools, such as ConsolFreight's shipping-invoice pool, suffered defaults that left investors facing losses and lengthy recovery proceedings. The protocol's later shift toward regulated, rated funds like Treasury bills and AAA CLOs is in part a response to those lessons.

Getting Started With Centrifuge

Getting started with Centrifuge means holding CFG, or investing in the tokenized funds built on the protocol:

  1. Step 1: Set up an Ethereum-compatible wallet such as MetaMask or Rabby. CFG is now a standard ERC-20 token on Ethereum.
  2. Step 2: Acquire CFG on a centralized or decentralized exchange and withdraw it to your wallet. If you hold pre-2025 legacy CFG or wCFG, note that the migration to the new token closed in December 2025.
  3. Step 3: Explore the Centrifuge app to browse tokenized funds. Regulated funds like JTRSY require investor onboarding, while deRWA tokens can be swapped and used in DeFi without it.
  4. Step 4: Participate in governance by voting on Centrifuge proposals (CPs) that direct the protocol and treasury.

How to Get a Centrifuge Wallet?

Since the 2025 migration, CFG is an ERC-20 token on Ethereum, so any reputable Ethereum wallet can hold it. Older guides describing Polkadot-style wallets for CFG are out of date.

MetaMask

MetaMask is the most widely used Ethereum wallet, available as a browser extension and mobile app. It supports CFG along with the other EVM networks Centrifuge V3 operates on, such as Base and Arbitrum.

Rabby

Rabby is a browser-extension wallet designed for multi-chain EVM use. It automatically switches between networks, which is convenient given that Centrifuge V3 and deRWA tokens span many chains.

Hardware Wallets

A Ledger or Trezor device can be paired with MetaMask or Rabby to keep private keys offline, which is recommended for larger CFG holdings.

Centrifuge Resources

How to Buy Centrifuge?

CFG is available on both centralized and decentralized exchanges. Make sure any guide you follow refers to the post-migration Ethereum token rather than the deprecated parachain token or wCFG.

Centralized Exchanges

CFG is listed on major exchanges including Coinbase, Kraken, Binance, OKX, KuCoin, Bybit, and Gate, typically traded against USD or USDT.

Decentralized Exchanges

As an ERC-20 token, CFG can be swapped on Ethereum DEXes such as Uniswap, and DEX aggregators can route trades across the EVM networks where Centrifuge operates.

Latest Centrifuge News

2025 was a transformative year for Centrifuge: the V3 protocol went live across multiple EVM chains, the CFG token completed its migration to Ethereum, total value locked grew roughly tenfold, and the deRWA distribution network brought freely transferable fund tokens to chains including Solana and Stellar. The partnership with S&P Dow Jones Indices to launch the first tokenized S&P 500 index fund marked one of the most significant traditional-finance endorsements of onchain asset management to date.

Coinbase has since made a strategic investment in Centrifuge and named it a preferred tokenization infrastructure provider, and in November 2025 governance proposal CP 171 placed day-to-day governance under the Centrifuge Network Foundation, with the DAO retaining the right to reassume control. In March 2026 Binance listed CFG for spot trading. Because fund lineups, total value locked, and governance arrangements change over time, the official website, documentation, and governance forum are the best sources for the current state of the protocol.