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Centrifuge Launches Tokenized US Treasuries and AAA Credit on Stellar via SushiSwap

Real-world asset (RWA) protocol Centrifuge has expanded its presence on the Stellar network by making its tokenized US Treasury and AAA-rated credit products available for trading on SushiSwap. The integration allows users to access deJTRSY (tokenized US Treasuries) and deJAAA (AAA-rated collateralized loan obligations) via liquidity pools on the decentralized exchange.

The development follows an official announcement from Centrifuge regarding its “deRWA” infrastructure on Stellar. While the protocol previously highlighted a $20 million allocation to these assets, the latest update confirms the transition from issuance to active secondary market liquidity. According to official statements from the project, both assets are now tradable against USDC on Stellar’s implementation of SushiSwap.

Institutional Credit Without Redemption Windows

The primary shift facilitated by the SushiSwap integration is the removal of traditional redemption windows. Typically, RWA products require specific timeframes for investors to enter or exit positions. By establishing liquidity on an automated market maker (AMM), Centrifuge intends to provide continuous, on-chain exposure to institutional-grade credit and government debt.

The two specific tokens represent different risk profiles within the fixed-income sector:

  • deJTRSY: Provides exposure to US Treasury bills, often utilized as a low-risk yield benchmark in decentralized finance.
  • deJAAA: Represents AAA-rated Collateralized Loan Obligations (CLOs), specifically incorporating Janus Henderson’s institutional credit strategy.

Infrastructure and Network Context

This launch marks a deepening of the relationship between Centrifuge and the Stellar ecosystem. Stellar has historically positioned itself as an infrastructure layer for payments and asset tokenization, and the introduction of these pools on SushiSwap provides a venue for retail and institutional participants to swap these assets with USDC.

The move also aligns with recent activity from other protocols. For instance, the Ethena Risk Committee recently approved the incorporation of Janus Henderson’s JAAA strategy—powered by Centrifuge—as a diversification tool for its USDe stablecoin backing. While that allocation focused on collateral management, the Stellar deployment focuses on direct market accessibility.

At the time of publication, the pools are live and accessible for users with compatible Stellar wallets. The protocol has not indicated any immediate plans for further asset classes on the network, focusing currently on the scaling of these initial Treasury and credit deployments.