"A 5x or 10x from where we are today."
Sebastian Pulido @defisebs, Director of Institutional & DeFi Business at Aave Labs, on what comes next for RWAs on @aave.
Full DeFi Drip episode goes live next week.
Centrifuge and @IOSGVC have entered into a strategic partnership to advance institutional tokenization across Asia.
IOSG first backed Centrifuge in 2021 and has now increased its position through open-market purchases.
That reflects a shared conviction: tokenized assets are moving from an emerging thesis to an increasingly important part of global capital markets.
Asia is emerging as a key region in that shift, driven by growing institutional interest and rapidly evolving digital asset ecosystems.
Together, we’ll help expand access to tokenized assets across Asia and support the next phase of growth.
The value of a tokenized fund is significantly impacted by where it can be accessed.
A Treasury fund on @Ethereum that's also live on @base and @Solana reaches more investors, becomes eligible for more DeFi integrations, more protocol treasuries, and more automated strategies.
deJTRSY and deJAAA on @StellarOrg are now available on @SushiSwap.
Stellar users can access tokenized US Treasuries and AAA CLO exposure through Sushi, one of DeFi’s most established liquidity venues.
Tokenization doesn’t stop at issuance. Assets need markets.
On Sushi, deJTRSY and deJAAA can be traded, supplied as liquidity, and integrated across Stellar DeFi.
+$200M worth of $JAAA now issued on @solana
AAA CLOs bring higher yield and low duration risk into USDe backing.
Deeper collateral diversification for @ethena's synthetic dollar. Continued chain expansion for institutional credit.
Centrifuge is bringing onchain the assets that matter.
Seeing JAAA become the first asset added as @ethena expands the institutional assets backing USDe makes a lot of sense.
Institutional credit, onchain distribution, and one of the largest digital dollar ecosystems in crypto.
Ethena is partnering with @Centrifuge as a strategic tokenization partner, with the integration of JAAA, Janus Henderson's AAA CLO strategy, into USDe's backing.
This is the first non-T-Bill RWA collateral in USDe's backing, approved by the Ethena Risk Committee following independent due diligence.
Every RWA is evaluated against four strict criteria: liquidity, credit quality, drawdown profile, and pricing transparency.
AAA RWA returns are driven by factors independent of crypto markets. Diversifying USDe's backing into these assets strengthens its resilience across market cycles.
Ethena has selected Centrifuge as a strategic tokenization partner.
Following an in-depth RWA RFP, @Ethena chose Centrifuge to support the next phase of USDe's backing diversification.
The partnership launches with an allocation to Centrifuge’s JAAA fund, managed by @JHIAdvisors, bringing institutional credit into Ethena’s expanding real-world asset collateral strategy.
A major step for Ethena. A major step for RWAs.
Powered by Centrifuge.
DeFi has always run on variable rates.
The next unlock is fixed-rate, fixed-term lending onchain.
@PaulFrambot, co-founder and CEO of @Morpho, joined DeFi Drip at the @rwasummit in Cannes.
- The DeFi Mullet, and how Morpho became the backend for major earn products
- Why fixed-rate, fixed-term lending is the unlock for institutional capital
- RWAs as Morpho's fastest-growing collateral category: treasuries, credit, and indices
Watch the full episode ↓
How does a vault work when it holds a tokenized real-world asset?
Tokenized Treasuries, private credit, and regulated funds all run on settlement delays: subscriptions clear when the wire lands and the NAV strikes, not when the block confirms.
ERC-4626 is the vault standard for atomic settlement.
✅ Deposit > receive shares
It works because onchain-native assets settle instantly, and that shared interface is why @aave, @MorphoLabs, and @eulerfinance interoperate: any protocol can read a vault position, route to it, build on top of it.
Real-world assets don't settle instantly, so they need more from the interface. A vault can't mint shares against a NAV that hasn't struck yet.
ERC-7540 splits each operation into two steps:
✅ Request a deposit or redemption
⏳ The asset settles on its own timeline
✅ Claim when it clears
Same interface underneath, same core functions, so a protocol already integrated with ERC-4626 adapts with minimal changes.
Composability is the whole reason to put an asset onchain: an asset that speaks the standard can be read and used by every protocol, with no custom integration.
That's why async vaults are spreading across DeFi. And now @OpenZeppelin has shipped an implementation, open to any developer building real-world assets onchain.
The asset settles like a fund and composes like a token.
Out of 8,100+ proposed ERCs, @OpenZeppelin has only implemented a tiny handful of token standards:
ERC-20, ERC-721, ERC-1155, ERC-4626, ERC-6909
ERC-7540 is joining that list: the async vault standard is now part of the toolkit most of DeFi runs on.
JTRSY is one of the first Treasury products to break from the T+1 redemption model. It now supports a category of institutional use cases that tokenized Treasuries have never been able to reach.
The RWA market went from $1B to $25B in two years.
The harder question now is how to make tokenized assets actually useful.
@itsbhaji, CEO of Centrifuge Labs, sits down with @0x4Graham, DeFi Product Lead, to open DeFi Drip Season 2, break down what comes after tokenization, and show what composability looks like in practice.
- Reaching institutional allocators and DeFi users at the same time
- Why building the S&P 500 onchain is different from wrapping an ETF
- RWAs across the DeFi yield stack: Aave, Morpho, Sky, and what's next
Watch the full episode ↓
The default assumption in DeFi is that everything happens atomically. But it doesn’t work for most of the offchain financial products moving onchain.
For institutional-grade asset management, async settlement is the baseline.