The total locked value (TVL) of the blockchain infrastructure platform Centrifuge has exceeded $1 billion, becoming the third entity asset (RWA) platform to reach this milestone, following BlackRock's BUIDL fund and Ondo Finance.
Centrifuge's CEO Bhaji Illuminati stated that this achievement is attributed to institutions transitioning from pilots to actual deployments, along with strong demand from on-chain asset allocators.
Illuminati pointed out that the market needs products beyond Treasury bills, such as the on-chain version JAAA of Janus Henderson's AAA-rated loan certificates (CLO) investment fund, which provides a natural next step for institutions seeking high yields.
While U.S. Treasury bonds remain the primary choice for on-chain allocators, JAAA products are the fastest-growing tokenized fund in this field. Illuminati added that the appeal of private credit is also rising, with more related news to be released soon.
Earlier this year, Centrifuge launched a tokenized S&P 500 index product in collaboration with S&P Dow Jones Indices. Illuminati noted that demand for this product is very strong, and more industry-specific and thematic index products are expected to be launched in the future.
Illuminati emphasizes that Centrifuge plans to open tokenized assets to retail investors through the deRWA initiative, which will be realized through major exchanges, wallets, lending protocols, and DeFi integrations.
Looking ahead, Illuminati expects that publicly traded RWAs such as government bonds and stocks will be adopted first in the short term due to liquidity and cognitive advantages, but the private market will ultimately dominate as blockchain can eliminate inefficiencies and uncover hidden value.
