#JAAA
3 articles tagged #JAAA — curated RWA tokenization coverage.
Centrifuge highlights advantages of AAA CLOs over Treasuries as tokenized fund gains traction
Centrifuge is challenging the dominance of U.S. Treasuries in the RWA sector by advocating for the superior yield and risk profile of AAA-rated collateralized loan obligations (CLOs). The protocol argues that AAA CLOs offer floating-rate exposure linked to SOFR, near-zero duration risk, and higher credit ratings than government bonds due to structural subordination. Centrifuge has demonstrated this strategy through its Janus Henderson Anemoy AAA CLO Fund, ticker JAAA, which secured a $1 billion allocation from Sky/Grove in June 2025. The broader Centrifuge platform has now surpassed $1 billion in total onchain value, signaling significant institutional interest in complex structured products. To facilitate institutional adoption, a June 2026 partnership with Kraken Institutional enables JAAA to be held in qualified custody. Additionally, Centrifuge has expanded its offerings to include tokenized high-yield corporate bonds in collaboration with New York Life Investment Management. While these assets provide excess yield, the protocol acknowledges inherent risks, including systemic credit events and the technical complexities of onchain settlement for structured finance. This shift highlights a maturing RWA market moving beyond simple government debt toward more sophisticated, yield-optimized financial instruments.
Centrifuge’s JAAA token settles instantly in Kraken’s custody 24/7
Kraken Institutional has integrated the JAAA token, a tokenized AAA-rated collateralized loan obligation (CLO) managed by Janus Henderson, into its qualified custody framework. This development marks the first real-world asset available within Kraken Custody, enabling institutional investors to hold the asset while benefiting from 24/7 instant on-chain settlement. The JAAA token, which currently represents approximately $686 million in assets, allows institutions to use their holdings as collateral for trading and borrowing via Kraken Prime. By leveraging Centrifuge’s tokenization infrastructure, the fund provides a 3.66% annualized yield while maintaining the security of a regulated custody environment. Originally seeded with $1 billion from the Sky ecosystem in June 2025, the asset has already seen significant adoption, including a $200 million allocation from Ethena. This integration bridges the gap for institutions hesitant about pure DeFi exposure by offering a familiar, regulated custody structure for high-quality credit assets. However, the move also introduces complex risk layers, as users are stacking traditional credit risk from the underlying corporate loans with smart contract risks and potential leverage on platforms like Aave Horizon.
Centrifuge enables AAA CLO collateral on Ethereum with $JAAA exposure
Centrifuge has enabled the use of the Janus Henderson Anemoy AAA CLO Fund (JAAA) as collateral on the Morpho lending protocol via a new wrapped token, wJAAA. This integration allows users to deposit wJAAA on Ethereum to borrow USDC and execute leveraged yield strategies, effectively democratizing access to institutional-grade credit markets. By utilizing the 3F protocol, the integration offers a 98% liquidation loan-to-value ratio, significantly lowering the barriers to entry for leveraged positions that previously required traditional margin accounts. The JAAA fund, which recently surpassed $1 billion in assets under management, represents a major milestone in the growth of tokenized real-world assets. While this development enhances capital efficiency, the high leverage ratio introduces potential risks regarding oracle reliability and liquidation cascades if the token deviates from its net asset value. Centrifuge continues to expand its cross-chain infrastructure, with JAAA already deployed across Ethereum, Solana, Base, and Arbitrum. This move highlights the increasing composability of traditional financial instruments within decentralized finance ecosystems.