Symbiotic's liquidity network now integrated with $1.6B Centrifuge funds from Janus Henderson, NYLIM
Through Symbiotic's Liquid Lane platform, qualified investors can now access instant USDC liquidity for three Centrifuge funds operated by Janus Henderson and New York Life Investment Management.
The liquidity network from Symbiotic has been integrated into three tokenized funds on Centrifuge, which collectively manage approximately $1.6 billion in assets under management, providing qualified investors with an additional pathway to convert their holdings into USDC.
Three funds are included in this integration: JAAA from Janus Henderson, which is an AAA-rated collateralized loan obligation strategy, JTRSY, also from Janus Henderson, representing a short-duration US Treasury strategy, and HYB from New York Life Investment Management, which focuses on a US high-yield corporate bond strategy.
Through Liquid Lane from Symbiotic, an onchain request-for-quote (RFQ) marketplace is utilized where liquidity providers can access liquidity from vaults to complete redemption requests. These market makers then have the option to redeem the fund tokens they've acquired through the issuer or alternatively sell them via another RFQ transaction.
This structure enables investors to obtain USDC immediately, while the standard redemption process for the funds can proceed independently on a separate timeline.
As an asset tokenization and vault platform, Centrifuge provides infrastructure for asset managers to issue and administer tokenized funds. With approximately $500 billion in assets under management globally, Janus Henderson has played a major role in driving the platform's expansion through its JAAA and JTRSY offerings.
According to Token Terminal data, Centrifuge had secured approximately $1.3 billion in new capital inflows by December 2025, with the two Janus Henderson funds serving as the primary drivers of this growth. The JAAA fund alone accounted for roughly $1 billion in total value locked and ranked among the largest tokenized funds available in the marketplace.
Symbiotic joins existing liquidity routes
Felix Lutsch, Symbiotic's head of ecosystem, informed Cointelegraph that Liquid Lane isn't the initial liquidity solution made available to holders of Centrifuge's tokenized funds.
We're not claiming to be first, and other liquidity routes exist. That's healthy for the market.
Felix Lutsch, Symbiotic's head of ecosystem
In February 2025, Centrifuge revealed a partnership with Wintermute designed to offer 24/7 instant redemptions for JTRSY. The HYB fund was introduced in June with its own separate liquidity framework enabling near-instant redemptions.
According to Lutsch, what sets Liquid Lane apart is the capital structure that underpins the transactions, not necessarily the speed at which they execute. The marketplace architecture enables multiple market makers and curators to take part without requiring market makers to allocate capital upfront and maintain inventory for specific assets, he explained.
The bigger constraint has been flow.
Felix Lutsch
Lutsch further explained that historically, low trading volumes in tokenized assets have provided market makers with minimal motivation to allocate capital to this sector.
According to him, consolidating redemption demand across multiple issuers and asset classes has the potential to enhance those economics, particularly as tokenized funds see increased utilization as collateral and financing assets within onchain markets.