Centrifuge

Centrifuge adds funds over time, so treat the Passage offer catalog as the source of truth rather than a fixed list. Each Centrifuge fund is one offer with type: "centrifuge::vault".

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What it is

Centrifuge is an onchain asset management and tokenization platform. It brings funds from established managers onchain and issues them as deRWA tokens: ERC-20 tokens that carry a fund’s economic exposure and are built to move around DeFi. A deRWA token’s symbol is de followed by the fund’s ticker. Passage supports Centrifuge funds on Ethereum. Each offer lists the chains it is live on, so read them from the offer rather than from this page.

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Ownership model

Wrapped exposure. A deRWA token wraps shares in the underlying fund. Your users get the fund’s returns, but they are not registered shareholders of the fund itself. The Janus Henderson Anemoy funds are BVI professional funds, run through Anemoy Capital SPC. The New York Life Investment Management (NYLIM) fund is a BVI segregated portfolio offered to non-US investors under Regulation S. Each fund holds the underlying Treasuries, CLOs, or corporate bonds, and Centrifuge issues the deRWA token against fund shares. That makes Centrifuge closer to Ondo than to Superstate: exposure to the asset rather than title to it.

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How users buy

Through a request that the fund fills later, the way a mutual fund works off-chain. An order placed in a mutual fund during the day is not filled at once at a market price. It waits for the fund’s next dealing point, and every order in that batch is filled at the price the fund calculates then. A Centrifuge fund works the same way, which is the biggest difference from Ondo and Superstate, where tokens and stablecoins settle in a single transaction. Selling runs the same way in reverse: the user requests a redemption with their tokens, the fund fills it, and the user claims USDC. Passage builds both the request and the claim screens. See Centrifuge Funds for the developer flow. Every request and every claim goes through a CoinList contract that only accepts transactions Passage has signed for that wallet.

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Fund schedules

Each fund fills requests on its own schedule. The times below are typical, not guaranteed, and a large request can be filled in parts. CoinList charges a 0.5% fee on deposits into every Centrifuge fund, taken out of the deposit rather than added on top. Redemptions and claims carry no CoinList fee. Users can place a request at any time, including weekends and US market holidays. A request placed outside a dealing day waits for the next one.

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How users qualify

Passage gives users two ways into a Centrifuge fund. You choose one with your Passage representative, based on your business model and the compliance tools you already run.

• With KYC. Users complete KYC and the offer’s eligibility checks through Passage before their first deposit.
• Without KYC. For partners who already limit access to eligible users with their own controls, such as their own onboarding or geographic restrictions. Users do not complete KYC through Passage.

In both cases Passage screens every wallet before it builds a request or a claim, and the restricted jurisdictions below apply.

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Restricted jurisdictions

Every Centrifuge fund is unavailable to users in the following jurisdictions. Each Ukrainian region is restricted in full, not only its occupied areas. The Crimea restriction covers Alupka, Alushta, Armiansk, Bakhchysarai, Bilohirsk, Dzhankoi, Feodosia, Inkerman, Kerch, Krasnoperekopsk, Saky, Sevastopol, Shcholkine, Simferopol, Staryi Krym, Sudak, Yalta, and Yevpatoria.

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What users can do with it

Hold it for yield, which shows up as a rising token price. Sell it back to the fund for USDC through the same request-and-claim flow. Use it in DeFi: Centrifuge’s tokens already integrate with protocols such as Sky, Aave, and Morpho. Centrifuge powers tokenized funds and yield and lending pools and vaults.

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FAQ

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