Singapore – July 5, 2023 – Moonbeam, the top destination for multi-chain applications on Polkadot, has announced an integration with Centrifuge which brings GLMR to Centrifuge, and CFG to Moonbeam. The community-requested-and-approved bi-directional HRMP channel between Moonbeam and Centrifuge allows tokens to flow freely across the ecosystem and the XCM integration brings greater asset diversity, enhanced liquidity, DeFi innovation, trust, and cross-chain connectivity to the Moonbeam community.
Centrifuge enables the tokenization of real-world assets, such as invoices, real estate bridge loans, trade receivables, inventory, or royalties, through its protocol and decentralized network. The platform leverages blockchain technology, specifically the Ethereum network, to tokenize these real-world assets into non-fungible tokens (NFTs) that represent fractional ownership in the underlying asset and can be traded and utilized within the DeFi ecosystem. By tokenizing real-world assets, Centrifuge unlocks liquidity for businesses that may have previously struggled to obtain financing through traditional channels. It also enables investors to participate in asset-backed investments within the DeFi ecosystem, opening up new opportunities.
Centrifuge’s integration allows the Moonbeam community to tap into a broader range of real-world assets. By leveraging Centrifuge’s tokenization capabilities, users on Moonbeam gain exposure to a diverse set of asset classes. XCM enables the flow of liquidity between the two parachains benefiting all users and highlighting the power of cross-chain connectivity in the Polkadot ecosystem.
The integration with Centrifuge reinforces the trust and transparency that underpins the Moonbeam network. Centrifuge leverages blockchain technology to provide an immutable record of ownership and transactions for tokenized assets. This transparency enhances the overall security and accountability within the Moonbeam ecosystem, for users who value trust and reliability.
About the Moonbeam Network
Moonbeam is a smart contract platform for building cross-chain connected applications that can access users, assets, and services on any chain. By uniting functionality from Ethereum, Cosmos, Polkadot, and more into a single platform, Moonbeam solves today’s fragmented user experience — unlocking true interoperability and paving the way for the next generation of applications. The Moonbeam platform uses integrated cross-chain messaging to allow developers to create smart contracts that access services across many remote blockchains. This approach, plus Moonbeam’s developer-friendly EVM platform, vast tool support, and modern Substrate architecture, creates the ideal development environment for building connected applications.
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