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Centrifuge, Janus Henderson and SmartMedia Technologies launched an institutional on-chain vault to manage the reserve assets sitting behind corporate loyalty programs, initially deploying into Janus Henderson's tokenized JTRSY and JAAA strategies, which carry a combined $1.5 billion (about 2.061 trillion won) in AUM per the cited figure. The transmission channel is RWA demand rather than spot crypto beta: loyalty-point float becomes a recurring source of duration and credit allocation into tokenized Treasury and AAA CLO wrappers, strengthening the fee and TVL case for tokenization rails such as Centrifuge and the chains hosting these vaults. Watch whether named corporate loyalty issuers actually migrate reserves and how fast vault AUM grows from the $1.5B base, since without disclosed inflows this remains infrastructure signaling rather than confirmed flow.
As a Crypto signal, watch whether it changes price action, volatility, or flows around ETH.
Original Source: 토큰포스트
This page is market information analysis, not investment advice.
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