ChainCatcher report: RWA protocol Centrifuge posted on X that governance proposal CP172 has been approved. The official statement indicates this is the first-ever token-to-tokenized-equity conversion in history. Upon completion of necessary approvals and legal analysis, Centrifuge will proceed with the proposed restructuring. According to the governance forum proposal, the Centrifuge Network Foundation plans to restructure and reregister as a Cayman Islands exempted limited liability company, Centrifuge, Inc., to issue equity. Eligible CFG token holders may exchange 1 CFG for 1 share of tokenized equity via the Centrifuge platform at no additional cost. Holders with 100,000 or more CFG will be directly registered as shareholders, while those with fewer than 100,000 CFG will participate through a trust structure partnered with CoinList. The conversion is voluntary; holders who do not participate may continue holding their tokens or sell them on public markets. Centrifuge will strive to maintain market liquidity during the conversion period. The proposal is supported by legal guidance from Ogier and advisory support from Galaxy Digital Labs LLC and The Tokenized Asset Coalition.
Centrifuge Approves CP172 Proposal to Convert CFG Tokens into Tokenized Equity
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Summary
Centrifuge announced the passage of governance proposal CP172, a significant milestone in the RWA token space. The proposal enables CFG token holders to convert their tokens into tokenized equity. The Centrifuge Network Foundation will restructure as a Cayman Islands-based company to issue shares. Holders with 100,000 CFG or more will be registered as direct shareholders, while smaller holders will receive equity through a trust managed by CoinList. Conversion is optional; non-participants may retain or sell their tokens. Legal support was provided by Ogier, Galaxy Digital Labs, and The Tokenized Asset Coalition. This development could set a precedent for future token listings in the tokenized assets sector.
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