Centrifuge has expanded its liquidity infrastructure by integrating Symbiotic’s Liquid Lane marketplace across three tokenized funds, enabling eligible investors to exchange positions for USDC. The move affects Janus Henderson’s JAAA and JTRSY funds, as well as New York Life Investment Management’s HYB, and follows a February 2025 partnership with Wintermute for JTRSY.
The integration utilises Symbiotic’s onchain RFQ marketplace, which allows investors to trade tokenized assets directly. Centrifuge’s platform, which facilitates asset tokenization, now supports instant redemptions for holders of the three funds, which collectively manage approximately $1.6 billion in assets.
By December 2025, Centrifuge had attracted $1.3 billion in new inflows, with JAAA alone contributing around $1 billion in total value locked. The firm has also established separate liquidity arrangements for HYB, which launched in June, though the exact year remains unspecified.
Felix Lutsch, head of ecosystem at Symbiotic, noted that while multiple liquidity solutions exist in the market, low trading volumes in tokenized assets have historically limited market makers’ participation. “The bigger constraint has been flow,” he said, adding that competition among liquidity providers is “healthy for the market.”
Centrifuge’s partnerships with Wintermute and Symbiotic aim to address redemption challenges in tokenized funds, which have faced criticism for limited liquidity compared to traditional investment vehicles. The integration is expected to enhance accessibility for investors seeking to convert tokenized positions into stablecoins.
Written by Oliver Grant
Markets Desk
