Centrifuge adds USDC redemptions for $1.6B in fund tokens

Centrifuge (CFG) has integrated Symbiotic’s liquidity network for three fund tokens with a combined value of about $1.6 billion and will offer a service that lets investors quickly exchange those fund tokens for USDC, Cointelegraph reported. The products covered are Janus Henderson’s JAAA and JTRSY, and New York Life Investment Management’s HYB. At the center of the service is Symbiotic’s Liquid Relay. When an investor seeks to sell a fund token, a market maker first provides USDC using liquidity secured in a vault. The market maker can then resell the received fund token to the issuer later or sell it to another counterparty. The structure allows eligible investors to recover funds without waiting for the standard redemption process to be completed.