Centrifuge has integrated Symbiotic's Liquid Lane across three tokenized funds totaling $1.6 billion in assets under management, providing eligible holders with immediate USDC liquidity for positions in funds managed by Janus Henderson and New York Life Investment Management (NYLIM).
The Liquid Lane mechanism uses an on-chain request-for-quote marketplace where market makers access liquidity from dedicated vaults to fulfill redemption requests from fund holders. Investors receive USDC immediately while the underlying funds' traditional redemption processes occur independently.
The integration covers Janus Henderson's JAAA, an AAA-rated collateralized loan obligation strategy with approximately $1 billion in TVL, and JTRSY, a short-duration U.S. Treasury strategy. It also includes NYLIM's HYB, a U.S. high-yield corporate bond strategy. By December 2025, Centrifuge had attracted about $1.3 billion in new inflows, primarily driven by the Janus Henderson funds.
Centrifuge previously established other liquidity routes. In February 2025, the platform announced a partnership with Wintermute to provide 24/7 instant redemptions for JTRSY. HYB, launched in June, also included a separate near-instant redemption mechanism.
Felix Lutsch, Symbiotic's head of ecosystem, said the distinction of Liquid Lane lies in its capital structure. The marketplace permits multiple market makers and curators to participate without requiring them to pre-fund and carry inventory for individual assets.
Historically, low trading volumes in tokenized assets have challenged market makers. "The bigger constraint has been flow," Lutsch said, indicating that limited activity reduced incentives for market makers to commit capital.
Symbiotic, a collateral markets platform backed by Paradigm, Pantera Capital, cyber•Fund, and Coinbase Ventures, aims to address liquidity constraints in tokenized RWAs. Aggregating redemption demand across various issuers and asset classes could improve economic viability for market makers as tokenized funds are increasingly used as collateral and financing assets within on-chain markets.
