Q2 2026 at Centrifuge: NYLIM Comes Onchain, Coinbase and Ethena select Centrifuge as Infrastructure

Q2 was a breakout quarter. Coinbase named Centrifuge a preferred tokenization infrastructure and took an equity stake in CFG. Kraken Institutional and OKX followed with partnerships of their own. Ethena selected Centrifuge after a competitive RFP and allocated $250M to JAAA. New York Life Investment Management, one of the world's largest active managers at roughly $807B in AUM, brought its first tokenized fund onchain with us. Underneath the announcements, our assets moved deeper into DeFi across new chains, venues, and integrations.

Total Value Locked: $1.6B (-6% QoQ)
CFG Token Holders: 10,988 (+16% QoQ)

New York Life brings its first tokenized fund onchain

New York Life Investment Management tokenized its U.S. High Yield Corporate Bond Strategy (HYB) on Centrifuge. NYLIM manages around $807B in AUM. HYB is its first tokenized fund and one of the first high yield corporate bond strategies to come onchain. A 180-year-old institution choosing to build on Centrifuge is a signal about where tokenization infrastructure is consolidating.

Coinbase names Centrifuge preferred infrastructure

Coinbase selected Centrifuge as a preferred tokenization infrastructure and backed the decision with a strategic investment in CFG. The partnership brings Centrifuge's tokenization framework to Base, with Coinbase's distribution behind it.

Ethena allocates to JAAA

Ethena selected Centrifuge as a strategic tokenization partner following a competitive RFP, allocating $250M to JAAA as one of the first real-world assets backing USDe. One of the largest allocators in crypto joins the JAAA holder base.

Kraken Institutional adds JAAA to qualified custody

Kraken Institutional added JAAA as its first RWA in qualified custody, extending institutional-grade custody to Centrifuge's flagship credit product.

Grove Basin commits $1B for instant JTRSY redemptions

Centrifuge partnered with Grove Basin on a $1B redemption facility for JTRSY, committing daily liquidity for 24/7 USDC instant redemptions. Holders can move out of JTRSY into USDC around the clock, backed by committed liquidity rather than a redemption queue.

IOSG partnership across Asia

Centrifuge and IOSG Ventures entered a strategic partnership to advance institutional tokenization across Asia, targeting Hong Kong, Singapore, Japan, and South Korea. IOSG first backed Centrifuge in 2021 and has now increased its position through open market purchases.

ERC-7540 merged into OpenZeppelin

OpenZeppelin merged an implementation of ERC-7540 into its Community Contracts, making the async vault standard co-authored by Centrifuge part of the toolkit most of DeFi builds on. Async settlement is how real-world assets work onchain. What was proven in Centrifuge vaults is now a public building block.

Core assets now live on Monad

Centrifuge's core assets went live on Monad, leading with JTRSY, JAAA, and Apollo's ACRDX. The corresponding deRWAs, deJTRSY, deJAAA, and deCRDX, launched alongside them as freely transferable wrappers, giving the assets 24/7 access and onchain liquidity across the Monad DeFi ecosystem.

Centrifuge V3.2 audits complete

Centrifuge V3.2 completed audits, with the Onchain Portfolio Manager as its headline feature. The Onchain Portfolio Manager lets an asset manager run a single vault holding tokenized treasuries, credit, equities, and onchain lending positions, rebalancing across all of them with unified accounting and onchain execution.

Deeper DeFi integration for assets on Centrifuge

• deSPXA gained traction on Uniswap and was added as collateral on Euler, curated by Clearstar.
• JAAA became the first asset to support leveraged trading on 3F.
• JTRSY was integrated into Grvt, expanding retail distribution.
• deJTRSY and deJAAA went live on Sushi on Stellar and arrived on X Layer at launch, part of a broader distribution partnership with OKX.

Centrifuge in the Press

• CoinDesk: New York Life's $800 billion asset manager makes tokenization debut with Centrifuge fund
• The Block: New York Life Investment Management makes first tokenized move partnering with Centrifuge on high-yield corporate bond strategy
• The Defiant: New York Life Partners with Centrifuge on Tokenized Corporate Bonds
• Decrypt: New York Life Investment Management Debuts First Tokenized Bond Fund
• Markets Media: 180-year Old New York Life Adds to Tokenized Funds
• PYMNTS: New York Life Investment Management Bets on Tokenization
• CoinDesk: BlackRock, Janus Henderson tokenized funds get instant redemptions with new $1 billion facility
• The Block: Janus Henderson takes ENA position, eyes regulated investment products tied to Ethena
• Crypto Briefing: Centrifuge partners with Ethena to issue $200M in JAAA tokens on Solana
• The Defiant: Coinbase Taps Centrifuge as Preferred Tokenization Partner
• CoinDesk: Coinbase taps Centrifuge as preferred tokenization backbone, takes equity stake
• The Block: Coinbase doubles down on Centrifuge investment, taps platform as tokenization partner for Base
• Crowdfund Insider: Centrifuge Launches DeFi Compatible Tokenization Framework On Base, Backed By Coinbase Partnership
• Blockonomi: Coinbase Backs Centrifuge Tokenization Rollout on Base
• Crypto Briefing: Centrifuge integrates tokenization with DeFi on Base, backed by Coinbase investment
• Invezz: Grvt expands wealth platform with Centrifuge yield integration

Centrifuge Perspectives

• Tokenization: From Exploration to Execution: A joint webinar with S&P Dow Jones Indices and Janus Henderson on real-world asset tokenization strategies and execution.
• DeFi Drip is back with the first three episodes of season 2, recorded at the RWA Summit.
  
  • Bhaji Illuminati, Co-Founder and CEO, Centrifuge Labs
  • Paul Frambot, Co-Founder and CEO, Morpho
  • Sebastian Pulido, former Director of Institutional & DeFi Business, Aave Labs
• Unlocking Tokenized Fund Composability: a joint report from LayerZero and Centrifuge.
• From Tokenization to Vaults: a five-article series on Centrifuge V3.2 walking through the vault stack design, by Jeroen Offerijns, CTO, Centrifuge Labs.
• Coindesk Live at Consensus, interview with Bhaji Illuminati, CEO, Centrifuge Labs
• Coinbase, Tokenized T-Bills, and The Future Of Onchain Finance, interview with Bhaji Illuminati, CEO, Centrifuge Labs
• Designing Onchain Utility for RWAs: Infrastructure, Vaults, and Curation, panel with Bhaji Illuminati, CEO, Centrifuge Labs
• The RWA Boom and DeFi's Trust Reckoning, interview with Graham Nelson, DeFi Product Lead, Centrifuge Labs

Partner Insights

• Base: Tokenized S&P 500 exposure from Centrifuge is now live on Base.
• Serotonin: Centrifuge: Tokenization to Utility
• Dune: The Rise of Composable RWAs
• Predicate: Predicate and Centrifuge Partner to Bring Real-Time Compliance to the RWA Ecosystem
• Pharos: The RealFi Inflection: Assessing the Strategic Trajectory for the Next Decade
• Keyring Network: Keyring Brings Centrifuge’s ACRDX into rwa [un]wind to Power On-Chain Leverage
• Hacken: Q1 2026 Security & Compliance Report