Centrifuge advances historic token-to-equity conversion after CP172 passage

Crypto governance votes usually produce more heat than light. CP172 is different. Centrifuge’s proposal to restructure its foundation into a Cayman Islands exempted company, Centrifuge, Inc., passed a final Snapshot vote held between September 3 and September 10, 2026, and in doing so it marked what the project describes as the first time a crypto token has been given a direct conversion path into tokenized equity. What CP172 actually does The proposal restructures the Centrifuge Network Foundation into Centrifuge, Inc., a Cayman Islands exempted company. That legal wrapper allows the new entity to issue equity shares, something a non-profit foundation structure generally cannot do. CFG token holders who choose to participate can convert their tokens into shares of Centrifuge, Inc. on a straight 1:1 basis. The conversion is voluntary, meaning holders who prefer to stay in token form can hold or sell without being forced into the new structure. The mechanics split along size. Holders with 100,000 CFG or more will be registered directly as shareholders. Smaller holders can access the conversion through a CoinList trust structure, which pools participants under a single legal entity t...