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Centrifuge
Active AUM
$891.02mKey Metrics
Onchain AUM$1.015b
Change (24h)-4.43%
Active / Onchain87.8%
DeFi Active TVL$444.35m
Change (24h)-1.34%
Utilization49.9%
Largest ProtocolGrove Finance$395m
Net Flows 30dN/A
Net Flows 7dN/A
Live Assets10
Issuers4
Est. Annual Revenue$2.23m
ConfidenceIssuer-Disclosed
Asset rankings
| Name | Chains | Asset Type | AUM | DeFi | Flows | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Corp Bond Fund | $558.83m | $651.23m | -2.17% | $439.63m | 78.67% | -2.08% | $1.05 | |||
| T-Bills | $278.46m | $289.47m | -15.19% | $157 | 0.000056% | 0% | $1.12 | |||
| Other Credit | $30.99m | $30.99m | -0.03% | $0 | 0% | $1.02 | ||||
| Single Asset Wrapper | $11.07m | $22.09m | +3.76% | $2.03m | 18.33% | +0.04% | $1.04 | |||
| Single Asset Wrapper | $8.87m | $18.72m | +0.10% | $1.92m | 21.67% | +0.31% | $1.05 | |||
| SPXA deRWA (Janus Henderson Anemoy S&P500 Fund wrapper)deSPXA | Single Asset Wrapper | $1.91m | $1.91m | -0.29% | $756,921 | 39.55% | +3.79% | $773.59 | ||
| NYLIM US High Yield Bond FundHYB | Corp Bond Fund | $639,786 | $639,786 | +0.40% | $0 | 0% | $0.99 | |||
| HYB deRWA (NYLIM US High Yield Bond Fund wrapper)deHYB | Single Asset Wrapper | $144,181 | $144,181 | +0.40% | $14,890 | 10.33% | -2.49% | $0.99 | ||
| ACRDX deRWA (Anemoy Tokenized Apollo Diversified Credit Fund wrapper)deCRDX | Single Asset Wrapper | $99,633 | $99,633 | -0.06% | $0 | 0% | $1 | |||
| Equity Basket | $0 | |||||||||
About Centrifuge
Centrifuge is an RWA protocol enabling securitization of real-world assets including invoices, mortgages, and trade finance through tokenized structures. It connects institutional asset originators with DeFi liquidity.
Entity
Legal entityCentrifuge GmbH
HeadquartersZug, Switzerland
Founded2017
Primary chainEthereum
Entity structure
The brand comprises the Centrifuge Network Foundation in the Cayman Islands and k f labs in Zug. Anemoy Limited is the BVI asset management arm issuing the FSC approved funds with Janus Henderson as sub investment manager. Each fund uses a bankruptcy remote SPV with independent custodian and Trident Trust as administrator.
Registry
Centrifuge (Centrifuge Foundation, Switzerland; Centrifuge Inc., US). Decentralized RWA tokenization protocol launched 2017 by Lucas Vogelsang, Martin Quensel et al. Tinlake / Centrifuge Pools enable structured-credit issuance. CFG governance token live on Coinbase, Bybit, KuCoin. Backed by BlockTower, Galaxy, Coinbase Ventures.
Regulation
Centrifuge is a protocol developer, not a licensed fund manager, with the website imprint held by Centrifuge Network Foundation in the Cayman Islands and development via k f labs in Zug. Its flagship funds are issued by Anemoy Limited, a BVI entity whose funds are approved and regulated by the BVI Financial Services Commission as professional funds for non US professional investors, with Janus Henderson as sub investment manager.
Compliance
Of 10 assets
Attested5 of 10
KYC to mint or redeem10 of 10
Allowlisted to hold3 of 3
Transferable10 of 10
Self custody10 of 10
Redeemable10 of 10
Fees & revenue
Revenue modelOrigination Fee + Yield Spread
ConfidenceIssuer-Disclosed
Est. Annual Revenue$2.23m
Holder Total Fee25 bps
Fees Last Verified2026-07-09
JTRSY charges 25 bps total annually accruing daily onchain per the Centrifuge STEP II filing (raised from a waived 15 bps in 2025). The JAAA tokenized fund TER is not disclosed and should not be confused with the US listed JAAA ETF. Fee split between Anemoy and Janus Henderson is not disclosed.
Milestones
- 2026-06New York Life Investment Management launched its first tokenized fund on Centrifuge and Kraken Institutional added JAAA to qualified custody
- 2025-07first tokenized S and P 500 index fund launched with Janus Henderson
- 2025-06JAAA tokenized AAA CLO fund launched with a 1 billion dollar Sky ecosystem allocation via Grove
- 2025-02Bhaji Illuminati appointed CEO
- 2017founded by Vogelsang and Quensel