Centrifuge and Symbiotic have integrated to allow holders of tokenized funds to redeem their positions for USDC immediately while the underlying settlement completes in parallel, according to an announcement released August 19. The mechanism covers $1.6 billion in eligible tokenized funds managed by Janus Henderson and NY Life Investments, including the JAAA, JTRSY and HYB products.
The integration uses a request-for-quote mechanism to provide USDC instantly upon redemption request, while the actual fund redemption settles on its original schedule. JAAA and JTRSY normally complete redemptions in T+1; HYB requires T+3 to T+5. Under the new structure, token holders receive their liquidity in stablecoins at inception, eliminating the wait.
Tokenized funds have grown as institutions seek on-chain exposure to traditional asset management with blockchain settlement. Janus Henderson and NY Life Investments are among the largest asset managers to issue tokenized share classes. The broader category has attracted deposits from institutional clients seeking daily liquidity paired with fund performance, a feature that settlement delays have historically constrained.
Symbiotic, a restaking protocol, and Centrifuge, a blockchain platform for real-world asset issuance, designed the system to reduce friction for fund redemptions without requiring fund sponsors to alter their back-office settlement timelines. The RFQ model lets market makers provide immediate stablecoin liquidity against the promise of future fund proceeds.
The integration addresses a structural gap in tokenized finance: traditional funds settle redemptions over days, while blockchain users expect near-instant token transfers. Parallel settlement preserves the fund's operational integrity while the token front-end matches DeFi user expectations.
The announcement did not include post-launch redemption volume or adoption figures. Centrifuge and Symbiotic have not disclosed whether additional fund managers are in discussions to join the network.
