Centrifuge Launches deSPXA on Base

Centrifuge is the leading tokenization platform, leveraging its deRWA (decentralized real-world asset) framework to issue tokenized assets that can be used in DeFi by non-US users.

deSPXA is the first live asset, giving non-US users tokenized exposure to the Anemoy S&P 500 Index Fund (SPXA), built ​​under license from S&P Dow Jones Indices and managed by Janus Henderson, and live on Base, a neutral permissionless blockchain.

Unlike tokenized ETFs, deSPXA can be minted/redeemed at NAV by non-US, Authorized Participants, akin to how ETFs work today.

deSPXA will be the first 24/7 tradeable product with exposure to an equity index fund.

Centrifuge’s launching of deRWAs brings a framework for issuing tokenized assets that can interact with DeFi protocols. The launch starts with deSPXA, a tokenized exposure to the Anemoy S&P 500 fund (SPXA), built under license from S&P Dow Jones Indices (“S&P DJI”), the global standard in financial benchmarking, and managed by Janus Henderson, one of the world's leading institutional asset managers.

deSPXA marks a structural shift in how tokenized assets are issued, distributed, and used; for the first time, exposure to an equity index fund will be liquid and tradeable 24/7, unlocking novel DeFi use cases.

deSPXA holders will be able to:

• Borrow on Morpho
• Short on Euler
• Trade on Aerodrome and Definitive
• Earn in Multipli RWAusd
• Access curated strategies from Steakhouse and Clearstar
• Access assets on major exchanges, wallets and DeFi protocols, that make deSPXA available to eligible, non‑US users

"Real-world assets that can move at the speed of crypto assets are the unlock that this market has been waiting for," said Anil Sood, Chief Strategy Officer of Centrifuge Labs. "We have spent years building the infrastructure to do this properly with the right compliance architecture, and the right distribution. deSPXA on Base is the moment that changes who can hold, use, and benefit from tokenized assets onchain outside the United States and other restricted jurisdictions."

The tokenized asset market has crossed $25 billion. Yet the vast majority of those assets remain locked, accessible only to permissioned wallets, confined to single-chain environments, and unable to interact natively through the DeFi ecosystem where capital actually lives.

deRWA changes this. Built on Centrifuge’s open infrastructure, deRWA enables institutional-quality assets to be issued with regulatory rigor at the core, while remaining open at the distribution layer. Asset managers retain compliance controls at issuance. Investors gain 24/7 access to move, hold, trade, and use those assets across the broad range of onchain financial infrastructure available to them, subject to applicable restrictions.

This collaboration brings together trusted benchmark data from S&P Dow Jones Indices, institutional asset management from Janus Henderson, and Centrifuge’s tokenization infrastructure to bring world-class digital native, investable indices onchain, launched on Base.

“Our ambition for the S&P 500 has always been to expand use cases and liquidity while maintaining the foundational transparency and quality that is synonymous with the index”, said Cameron Drinkwater, Chief Product Officer, S&P Dow Jones Indices. "We are thrilled to collaborate with Centrifuge to license the S&P 500 for SPXA to be available on Base, flexibly wrapped as deSPXA."

To ensure trust and transparency, the integration is built on Centrifuge V3, with Chronicle delivering real-time, verifiable pricing data for the underlying assets. LayerZero will power future multichain expansion, and Keyrock to provide the market making services.

“Tokenization was never the end goal. The real opportunity is moving up the stack building new primitives onchain, integrating with DeFi, and opening new distribution pathways. That’s how we compress the distance between assets and investors and bring innovative financial products to market,” said Bhaji Illuminati, CEO of Centrifuge Labs.

The next phase of tokenized asset growth will be defined by distribution, usability, and trust. deRWA is built for that shift, bringing high-quality assets to a global onchain market.


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Disclaimer: 

deSPXA and related products are offered only outside the United States to non‑U.S. persons in reliance on Regulation S under the U.S. Securities Act of 1933 and are not available to U.S. persons or in any jurisdiction where such offering would be unlawful. Coinbase, including Base, provides neutral blockchain infrastructure only and is not the issuer, investment adviser, broker, dealer, underwriter, promoter, distributor, or transfer agent for deSPXA or any related tokens, nor does it act as an exchange or clearing agency for transactions in such tokens.

The S&P 500 Index is a product of S&P Dow Jones Indices LLC or its affiliates (“S&P DJI), and has been licensed for use by Anemoy Capital Ltd. (“Anemoy”), k-f dev AG (“Centrifuge”) and Janus Henderson for use with the Anemoy S&P 500 Index Fund (SPXA) and by Open Market Factory Limited for use with the deSPXA.  S&P®, S&P 500®, SPX®, US 500™, The 500® are trademarks of S&P Global, Inc. or its affiliates (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by S&P DJI and sublicensed for certain purposes by Anemoy, Centrifuge, Janus Henderson and Open Market Factor Limited. Funds and tokens based on the S&P 500 are not sponsored or sold by S&P DJI, Dow Jones, S&P, their respective affiliates and none of such parties make any representation regarding the advisability of investing in such products nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.

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