Symbiotic Brings Instant Liquidity to Janus Henderson and NYLIM Funds on Centrifuge Representing $1.6B AUM

TL;DR

• Liquid Lane now supports three tokenized funds issued through Centrifuge: Janus Henderson's JAAA and JTRSY and New York Life Investment Management's (NYLIM) HYB. Together, the funds represent $1.6 billion in AUM.
• Eligible holders can now receive USDC at T+0 across all three funds, including HYB, whose standard redemption window runs from T+3 to T+5.
• One capital base can support all three funds. Institutional curators define each vault's supported assets and risk parameters, while qualified market makers compete to price exits through an RFQ.
• Capital remains productively deployed between redemptions, earning across different markets before being recalled to meet liquidity demand.
• Liquid Lane scales with the market. Each new asset, capital inflow or curator strategy connects to the same framework rather than requiring another isolated capital pool.

One Instant Liquidity Layer Across Treasuries, CLOs and High Yield

Liquid Lane now enables T+0 USDC redemptions across three distinct institutional exposures:

• HYB: NYLIM's U.S. high-yield corporate bond strategy, moving from T+3–T+5 to T+0.
• JTRSY: Janus Henderson's short-duration U.S. Treasury strategy, moving from standard T+1 redemption to T+0.
• JAAA: Janus Henderson's AAA-rated CLO strategy, also moving from T+1 to T+0.

Symbiotic and Centrifuge, the leading tokenization and onchain asset-management platform, are partnering to make these assets more flexible across onchain markets, supporting broader institutional use and adoption.

Janus Henderson, a global asset manager with approximately half a trillion dollars in AUM, provides the strategies behind JAAA and JTRSY. JAAA was the first AAA-rated CLO fund brought fully onchain. HYB marks the tokenization debut of NYLIM, one of the world's largest active asset managers, with more than $800 billion in AUM.

Unlocking the Full Financial Utility of RWAs

The next phase of tokenization will be defined not by putting more assets onchain, but by making them more useful because they are onchain. The tokenized asset market has grown 431% since early 2025 to over $30 billion, with projections of $4–30 trillion by 2030. Yet as of April 2026, less than 10% of tokenized RWA value was being used as collateral in DeFi lending markets. Many products remain onchain in form, but not in function.

Reliable liquidity remains one of the biggest constraints in realising the full potential of RWAs. Exits still rely on traditional settlement and can take up to 90 days for some assets. Investors price in exit uncertainty or limit exposure; issuers face weaker demand and distribution; and DeFi protocols hesitate to accept assets that cannot reliably convert into liquid value. Fragmented flow also makes it difficult for LPs to dedicate capital to individual assets, especially when it may remain underused between redemptions.

The result is self-reinforcing: limited liquidity suppresses demand and issuance, low volume makes liquidity expensive, and weak exits constrain onchain utility. In Centrifuge's 2026 Tokenization Outlook, 67% of industry operators identified reliable liquidity and redemption as the most important factor in investor confidence.

Instant liquidity does more than improve redemption: it expands the addressable market and lifts the ceiling on what can be built around tokenized assets. Reliable exits make assets easier to hold, finance and integrate, expanding demand and distribution while giving lending, trading and risk markets greater confidence to accept them as collateral. RWAs can then move beyond passive representations of offchain products and become productive financial primitives, backing credit, supporting leverage, securing obligations, and underwriting risk.

From Isolated Pools to Shared Liquidity

Liquidity models built around dedicated pools or individual balance sheets must provision capital separately for every asset, reproducing fragmentation. Liquid Lane instead provides a shared, cross-RWA layer into which new assets, capital providers, and market makers can connect.

• Shared capital across assets. A single vault can support multiple RWAs of different categories, allowing new assets to draw on existing capacity rather than fragmenting liquidity into another pool.
• Collateral optimized across markets. The same deposit can earn lending yield in approved external markets, capture redemption spreads and support obligations across Symbiotic applications such as credit and insurance.
• Curator-defined strategies. Institutional curators select supported assets and issuers, set limits and define risk parameters, enabling distinct risk and yield strategies within the same framework.
• Competitive price discovery. Qualified market makers bid to settle exits through an RFQ, allocating liquidity where demand emerges and setting redemption discounts through market competition.

Each new asset, capital inflow or curator strategy connects to the same framework rather than requiring another isolated capital pool. The result is a more capital-efficient model that reduces the cost of providing instant liquidity while creating diversified return opportunities.

How Liquid Lane Delivers T+0 Exits for Centrifuge Funds

When a holder wants to exit, qualified market makers compete through an RFQ layer to price the redemption discount. Once accepted, vault capital settles the exit immediately, entirely onchain:

1. A holder requests an exit in JAAA, JTRSY or HYB through the Liquid Lane RFQ.
2. Qualified market makers compete on price, signing and submitting quotes that define the redemption discount.
3. Once a quote is accepted, the settlement contract draws the required USDC from a curator-managed Symbiotic vault through the Liquid Lane adapter.
4. The exit settles atomically. The holder's tokens move into the settlement contract as USDC is released in the same transaction, completing the exit at T+0.
5. The acquired position is retained or redeemed with Centrifuge through its standard process, continuing to earn the fund's intrinsic yield until it is unwound.
6. Realized USDC returns to the vault, where it is reallocated across the curator's approved strategy until the next exit.

Holders get a competitively priced exit on trade date, and Centrifuge gains a liquidity layer across three funds without funding a dedicated reserve behind each product.

Five Institutional Curators Behind Instant Liquidity

The integration launches with five institutional curators designing the strategies that supply liquidity across the three funds. Each curator defines its own supported assets, allocation strategy and risk parameters.

• Keyrock. A digital asset market maker and liquidity provider active across 85+ exchanges and 1,400+ markets since 2017.
• KPK. A non-custodial onchain asset manager running $300M+ across funds, vaults and treasury mandates.
• Avantgarde. A DeFi-native asset manager and the team behind Enzyme, curating vault strategies and separately managed accounts for DAOs, foundations and institutional allocators since 2016.
• Clearstar. A Swiss risk curation firm focused on making onchain yield viable at institutional scale through its strategies.
• Amber. A global market maker and digital asset manager handling more than $5B in assets under management, bringing trading and inventory expertise to redemption pricing.

Beyond Faster Redemptions

Liquid Lane improves the economics of liquidity provision and shares the resulting value across both sides of the tokenized-asset market. Scalable liquidity for tokenized assets and a higher ceiling on what capital can do.

For asset issuers, instant liquidity removes a key friction that keeps institutional allocators cautious and lending protocols from listing RWAs as collateral, expanding distribution and AUM without relying on costly incentive programs or idle reserves.

For liquidity providers, Liquid Lane converts RWA redemption demand into a return stream priced by real market activity. The same capital can also generate returns across approved external markets and by supporting obligations across other Symbiotic applications—all within strategies whose rules are defined upfront by institutional curators.

Speak with the Symbiotic team to bring instant redemptions to your tokenized assets, or to put your capital to work across collateral markets.