According to TheBlock, decentralized finance protocol Centrifuge has raised $4 million in a strategic round from backers Coinbase Ventures, BlockTower, Scytale and L1 Digital.

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.

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.