Grove Launches on Avalanche with $250M Target Deployment, Accelerating Institutional OnChain Credit with Centrifuge's JAAA

The move introduces new capital, protocols, and asset managers — including Grove, Centrifuge, and $373B AUM asset manager Janus Henderson — to Avalanche’s growing institutional ecosystem.

Grove, an institutional-grade credit protocol part of the Sky (formerly MakerDAO) Ecosystem, is set to launch on Avalanche with an initial deployment strategy targeting up to ~$250M in real-world assets (RWAs). This milestone expands Avalanche’s institutional footprint in RWAs across areas like stablecoins, fixed income, and alts and introduces powerful new ecosystem partners, including Grove, Centrifuge, and $373B AUM asset manager Janus Henderson.

Beyond its enterprise-grade performance, Grove chose Avalanche as a close strategic partner due to its long-standing commitment to RWAs and institutional finance. This deployment is just the first step in a broader roadmap of products and services designed to modernize legacy infrastructure, streamline institutional workflows, and create new products for both retail and institutional investors.

“Avalanche’s long-term vision for real-world assets and proven onchain operating history make them the perfect partner for Grove’s institutional credit infrastructure. Combining our capital allocation engine with Avalanche’s high‑performance blockchain and Centrifuge’s deep pipeline of tokenized assets lays the foundation for a new era of scalable, onchain credit markets."
Mark Phillips, Co‑Founder, Grove Labs

This launch brings more than new capital; it adds critical infrastructure and institutional-grade products to Avalanche’s ecosystem. Grove will allocate into the Janus Henderson Anemoy AAA CLO Fund (JAAA), issued natively onchain through Centrifuge. The Janus Henderson Anemoy Treasury Fund (JTRSY) will also launch on Avalanche, expanding the network’s footprint in high quality institutional assets. Centrifuge, a pioneer in onchain credit infrastructure, has played a central role in bringing real-world assets to DeFi since 2017. As one of the first platforms to tokenize RWAs and now a leading provider of infrastructure across multiple chains, Centrifuge continues to set the standard for how institutional capital enters and operates onchain, offering the tools, transparency, and scale needed to support next-generation investment strategies.

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As the worlds of DeFi, TradFi, CeFi, and RWAs continue to converge, this partnership uniquely capitalizes on opportunities that sit at the intersection of these verticals — including those in private credit, payment finance, and more.

Partners like Grove and Centrifuge — and platforms like Avalanche — are collectively driving the evolution of onchain activity from pure speculative DeFi into a next-generation institutional framework for programmable asset allocation and management at internet scale. Grove bridges DeFi with traditional markets through programmable and scalable onchain infrastructure,serving as a capital highway that increases capital efficiency, reduces friction, and unlocks access to diversified credit investment opportunities on and offchain. Deployments are executed through Grove’s proprietary allocation network, a programmable capital routing engine operating under Sky’s Atlas governance framework. Grove is developed by Grove Labs, a subsidiary of Steakhouse Financial, and incubated under Sky’s Endgame architecture. 

Purpose-built for institutional capital flows, Grove provides the rails for onchain protocols, asset managers, and DAOs to access credit markets. The founding team includes veterans from Deloitte, Citigroup, BlockTower, and Hildene and previously spearheaded Sky’s push into tokenized U.S. Treasuries. With Grove, they aim to replicate that success in the structured credit space, helping to unlock a multi-trillion-dollar market for the DeFi era.

"Grove is setting a new benchmark for institutional credit onchain, and Avalanche is the foundation. This deployment proves that complex, large-scale credit strategies can be run natively onchain. By combining Grove's programmable capital infrastructure with Centrifuge’s RWA experience and Avalanche's performance, we're driving forward the next generation of financial services onchain with next-level efficiency and utility."
Morgan Krupetsky, VP of OnChain Finance at Ava Labs

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