Grove, an institutional lending infrastructure protocol, has announced a partnership with Centrifuge — a platform for tokenizing and managing RWAs on-chain. As part of the deal, Grove has acquired 37.8 million $CFG tokens.
Utilizing Centrifuge's infrastructure, Grove has invested in products such as Apollo's ACRDX, as well as Janus Henderson's JAAA and JTRSY. The companies aim to jointly foster the development of a more liquid and scalable on-chain lending market.
The acquisition of $CFG makes Grove one of the participants in the Centrifuge ecosystem who are interested in its development and involved in protocol governance. As noted by the companies, the deal will strengthen long-term cooperation and allow the combination of Grove's capital distribution infrastructure with Centrifuge's technologies for asset tokenization and distribution.
Image: Magnific
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