Grove launches on Avalanche with Centrifuge and Janus Henderson to scale institutional credit on-chain.
Grove, the institutional-grade credit protocol within the Sky (formerly MakerDAO) ecosystem, has launched on Avalanche, targeting up to $250 million in real-world asset (RWA) deployments.
The move strengthens Avalanche’s institutional presence in tokenised fixed income and alternative assets, while introducing new capital and infrastructure partners, including Centrifuge and asset manager Janus Henderson.
The strategic expansion leverages Avalanche’s longstanding focus on institutional-grade RWAs. Grove’s initial allocation will include investments in the Janus Henderson Anemoy AAA CLO Fund (JAAA), launched natively through Centrifuge, and the forthcoming Janus Henderson Anemoy Treasury Fund (JTRSY), both designed to scale institutional asset access on-chain.
“Avalanche’s long-term vision for real-world assets and proven on-chain operating history make them the perfect partner for Grove’s institutional credit infrastructure. Combining our capital allocation engine with Avalanche’s high‑performance blockchain and Centrifuge’s deep pipeline of tokenised assets lays the foundation for a new era of scalable, on-chain credit markets,” said Mark Phillips, Co‑Founder of Grove Labs.
Centrifuge, a pioneer in tokenised credit infrastructure since 2017, is providing the backbone for the initiative, enabling institutional investors to issue, manage, and scale structured credit products across multiple EVM chains.
“Centrifuge has built the infrastructure behind some of the largest tokenised asset strategies to date, and we know what institutional capital demands: scale, liquidity, and transparency,” said Bhaji Illuminati, CEO of Centrifuge. “Our open platform enables funds like JAAA and JTRSY to launch and scale natively on high-performance chains like Avalanche.”
Grove’s proprietary capital routing engine, which is built under Sky’s Atlas governance framework, will power dynamic allocations across protocols and asset classes, offering decentralised autonomous organisations (DAOs) and traditional asset managers seamless access to scalable, diversified credit products.
“Grove is setting a new benchmark for institutional credit on-chain, and Avalanche is the foundation,” said Morgan Krupetsky, VP of OnChain Finance at Ava Labs. “By combining Grove’s programmable capital infrastructure with Centrifuge’s RWA experience and Avalanche’s performance, we’re driving forward the next generation of financial services on-chain with next-level efficiency and utility.”
With a founding team from Deloitte, Citigroup, BlockTower, and Hildene, Grove aims to replicate its success in tokenised U.S. Treasuries within the structured credit space.
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