Decentralized finance protocol Centrifuge has raised $4 million in a strategic round from backers Coinbase Ventures, BlockTower, Scytale and L1 Digital.The startup’s most recent publicly announced raise occurred in February of last year and secured $4.3 million from investors that included Galaxy Digital, IOSG Ventures and Rockaway Ventures. It also announced a $3 million strategic partnership with BlockTower in May.

The Berlin-based project enables real-world assets — such as real estate, consumer credit and invoices — to be tokenized and leveraged within DeFi services. Such tokenization has been seen as one of the core use cases for blockchain technology, as it allows for more transparent and liquid markets.