Centrifuge has integrated Symbiotic's Liquid Lane across three tokenized funds with $1.6 billion in assets under management. The integration offers eligible holders immediate USDC liquidity for their positions through an additional on-chain redemption route.
The three funds are Janus Henderson's JAAA, an AAA-rated collateralized loan obligation strategy; JTRSY, a short-duration US Treasury strategy; and New York Life Investment Management's HYB, a US high-yield corporate bond strategy.
Symbiotic, backed by Paradigm, Pantera Capital, cyber•Fund and Coinbase Ventures, operates Liquid Lane as a collateral markets platform. The system functions as an on-chain request-for-quote marketplace where market makers access liquidity from vaults to fulfill redemption requests. After acquiring fund tokens through the RFQ, market makers can redeem them via the issuer or sell them in another RFQ transaction, allowing investors to receive USDC instantly while the funds' standard redemption processes occur separately.
Centrifuge serves as a leading tokenization and on-chain asset management platform where asset managers issue and manage tokenized funds. Janus Henderson, which manages approximately $500 billion in assets, has driven significant growth on Centrifuge's platform. By December 2025, Centrifuge attracted about $1.3 billion in new inflows, primarily from the two Janus Henderson funds. JAAA alone contributed approximately $1 billion in total value locked, establishing it as one of the largest tokenized funds in the market.
Liquid Lane represents an additional liquidity option for Centrifuge's tokenized funds. Centrifuge previously partnered with Wintermute in February 2025 to provide 24/7 instant redemptions for JTRSY. The HYB fund, launched in June, also has a separate near-instant redemption arrangement.
Felix Lutsch, Symbiotic's head of ecosystem, said Liquid Lane's distinction lies in its capital structure. The marketplace allows multiple market makers and curators to participate without requiring them to pre-fund and carry inventory for each individual asset. Low trading volumes in tokenized assets have historically limited market maker incentives to commit capital. Lutsch indicated that aggregating redemption demand across different issuers and asset classes could improve these economics.
Aggregated demand becomes more relevant as tokenized funds see increased use as collateral and financing assets within on-chain markets.
