Centrifuge has successfully passed the CP172 governance vote, enabling a restructuring of the Centrifuge Network Foundation into a Cayman Islands exempted company, Centrifuge, Inc. The vote took place between September 3 and September 10, 2026.
This move introduces a mechanism for CFG token holders to convert their tokens into equity shares of the new entity on a 1:1 basis. Participation in the conversion is voluntary, allowing holders to retain their tokens if they prefer.
The conversion process distinguishes between holders based on their stake. Those holding 100,000 CFG or more will be registered as direct shareholders, while smaller holders will utilize a CoinList trust structure to manage administrative requirements.
The project, which reports approximately $1.6 billion in tokenized assets, aims to address challenges such as token volatility, institutional governance constraints, and difficulties in raising traditional capital through this corporate transition.
The restructuring remains subject to further regulatory approvals. Centrifuge notes that while the internal governance hurdle is cleared, the final completion of the corporate transition is still pending.
