Coinbase taps Centrifuge as preferred tokenization backbone, takes equity stake
The partnership includes a strategic investment by Coinbase and is focused on expanding tokenized ETFs, credit, and structured products.
What to know:
- Centrifuge was selected as Coinbase’s preferred tokenization infrastructure, making it the default issuance layer for assets across Coinbase’s ecosystem, including Base.
- The partnership includes a strategic investment by Coinbase and is focused on expanding tokenized ETFs, credit, and structured products.
- The first institutional assets are anticipated to launch on Base within the coming weeks, supporting Coinbase’s path in the $27 billion tokenized real-world assets sector.
Coinbase’s push into tokenized capital markets spans ETFs, credit and structured products. The Centrifuge deal gives Coinbase an infrastructure partner for outside asset managers that want to issue products onchain, though it doesn’t appear to be exclusive.
Coinbase Asset Management said last week it would issue its CUSHY stablecoin credit fund through Superstate’s FundOS platform, and in March tapped Apex Group to tokenize a share class of its Bitcoin Yield Fund on Base. Coinbase Ventures was also already an investor in Centrifuge, having backed a 2022 strategic round.
Centrifuge powers onchain strategies for Apollo, Janus Henderson and S&P Dow Jones Indices. It crossed $1 billion in total value locked in mid-2025 and now has $1.66 billion, according to DeFiLlama data.
