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Centrifuge, a platform focused on bringing real-world assets onchain, has deployed its decentralized real-world asset (deRWA) infrastructure on Base, Coinbase’s Ethereum layer-2 network. The rollout is designed to combine institutional-grade tokenization with DeFi functionality, allowing tokenized assets to operate as composable primitives within DeFi protocols at scale.
The initiative introduces a framework for issuing tokenized products that aim to maintain regulatory compliance while gaining native liquidity and interoperability across DeFi applications. Unlike many traditional tokenized assets that remain confined to permissioned or isolated environments, deRWAs are built to integrate directly with lending markets, automated market makers, yield strategies, and other onchain tools.
As a result, holders can borrow against tokenized assets, trade them 24/7, use them in collateralized positions, and incorporate them into broader portfolio strategies without leaving the blockchain ecosystem.
The launch is anchored by a collaboration with Coinbase. The exchange has named Centrifuge its preferred tokenization infrastructure provider and provided a multimillion-dollar investment to support expansion. The partnership combines Centrifuge’s experience handling complex institutional assets for clients including Apollo, Janus Henderson, and S&P Dow Jones Indices with Base’s high-throughput environment and Coinbase’s developer and institutional networks.
The stated goal is to accelerate tokenized asset adoption by focusing not only on issuance, but also on utility, broad distribution, and institutional trust.
A flagship product already live under the deRWA banner is deSPXA, which provides tokenized exposure to the Anemoy S&P 500 Index Fund (SPXA). Developed in partnership with S&P Dow Jones Indices and actively managed by Janus Henderson, deSPXA is described as the first product offering 24/7 tradable, liquid access to an equity index fund onchain.
Authorized non-U.S. participants can mint or redeem shares at net asset value, similar to traditional ETFs. The token is designed to integrate with DeFi protocols including Morpho for borrowing, Euler for shorting, Aerodrome and Definitive for trading, and Multipli for yield opportunities within RWA-focused stablecoins. Additional curated strategies from partners such as Steakhouse and Clearstar are also included to enhance usability.
The development targets a limitation in the $25 billion-plus tokenized asset market: many existing RWAs remain locked in siloed wallets or single-chain setups with limited DeFi functionality. Centrifuge’s approach on Base emphasizes open distribution layers while preserving compliance controls at issuance.
The infrastructure is intended to abstract technical complexity for asset managers, credit originators, fintechs, and DeFi protocols, enabling them to launch products rapidly without custom builds.
Centrifuge executives describe the combination of compliant architecture and DeFi composability as a shift that unlocks new primitives and narrows the gap between traditional assets and global investors. Coinbase’s Chief Business Officer said expanding access to differentiated assets on Base for eligible non-U.S. users aligns with broader efforts to enhance economic opportunities onchain.
Centrifuge plans multi-chain expansion powered by technologies like LayerZero, with the aim of ensuring tokenized assets are not confined to a single network. The integration also builds on Centrifuge’s earlier RWA Launchpad efforts, creating a scalable pipeline for diverse asset classes.
As tokenized markets mature, deRWAs on Base are positioned as a move beyond simple digitization toward functional, DeFi-native financial products.
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