RedStone enables same-day redemptions for Centrifuge’s HYB RWA fund

Oracle provider RedStone (RED) will support same-day conversion of Centrifuge’s tokenized corporate bond fund HYB into USDC, Crypto Briefing reported. HYB redemptions previously typically took three to five business days, but with settlement layer RedStone Settle, a KYC-verified market maker can immediately buy HYB shares, advance USDC to the seller, and then wait for the redemption to be completed. That also allows DeFi lending protocols that have accepted HYB as collateral to liquidate the collateral the same day without waiting for the redemption to be completed.