Centrifuge’s JAAA tokenized fund hits roughly 47% utilization across DeFi

Centrifuge’s JAAA tokenized fund, which provides exposure to AAA-rated tranches of Janus Henderson’s Anemoy CLO, has achieved a 47% utilization rate. This milestone highlights the growing integration of tokenized credit assets into decentralized finance protocols and liquidity providers. The fund, designed for non-US investors, has processed over $717 million in redemptions across 93 orders over the past year, demonstrating significant operational liquidity. Currently, the asset is being utilized as collateral on Aave Horizon, where a governance proposal seeks to increase its loan-to-value ratio from 81% to 87%. This potential adjustment reflects increasing market confidence in the stability and redemption track record of tokenized AAA credit. While the fund's assets under management have fluctuated between $585 million and $687 million, the rising utilization rate signals improved capital efficiency for holders. The outcome of the Aave Horizon vote will serve as a critical indicator for the broader adoption of tokenized corporate debt in DeFi lending markets.