Centrifuge and Janus Henderson bring $687M CLO fund onchain
What's the deal? Centrifuge and Janus HendersonDealroom has a profile for this one. Try Dealroom → have launched the Janus Henderson AnemoyDealroom has a profile for this one. Try Dealroom → AAA CLO Fund, or JAAA, an onchain vehicle managing about $687 million. The fund is available across eight blockchain networks, including EthereumDealroom has a profile for this one. Try Dealroom → and Solana.
What's the endgame? JAAA brings collateralized loan obligations (CLOs) onchain, giving investors access to a structured credit product through blockchain infrastructure. CLOs bundle diversified floating-rate corporate loans into tranches by risk and return, with payments distributed via a waterfall structure that pays higher-priority holders first.
The fund targets the highest-rated segment of that structure, aiming at investors who want corporate credit exposure with a lower risk profile. It offers an annual yield of 4.5%.
Why now? The launch moves beyond tokenizing simple assets such as US government securities and applies blockchain to a more complex institutional credit product. Centrifuge's infrastructure automates parts of fund operations and enables daily subscriptions and redemptions through stablecoins.
What could go wrong? Structured credit onchain introduces risks absent from conventional funds. Smart contracts, network compatibility, and digital asset custody add technical considerations, and operating across eight networks requires careful management of interoperability and security.
The signal: The fund reflects growing efforts to connect traditional finance with decentralized infrastructure. Because JAAA is represented through blockchain tokens, those tokens could serve as collateral or feed into yield strategies — potentially making tokenized institutional credit usable across decentralized finance markets.
Read more: cointrust.com
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