Centrifuge Brings Instant Redemptions to Tokenized Funds Worth $1.6 Billion
Centrifuge has integrated Symbiotic's liquidity network to enable instant USDC redemptions for three tokenized funds, totaling approximately $1.6 billion. The affected products are Janus Henderson's JAAA and JTRSY funds, along with New York Life Investment Management's HYB fund.
The integration uses Liquid Relay, which provides immediate liquidity by purchasing fund tokens from investors and paying them in USDC. This bypasses the traditional redemption cycle, which can take days or even weeks for certain funds.
Centrifuge's partnership with Symbiotic addresses a key hurdle in the tokenized asset market: liquidity. By leveraging a decentralized network, Centrifuge provides immediate liquidity without requiring fund issuers to alter their underlying redemption process.