Grove, a credit protocol within the Sky ecosystem, has announced a landmark partnership with global asset management firm Janus Henderson Anemoy to tokenize $250 million worth of real-world assets (RWAs) on the Avalanche blockchain. The collaboration leverages tokenization platform Centrifuge and represents one of Avalanche's largest institutional real-world asset deployments to date.
The initiative will launch two tokenized funds: the Janus Henderson Anemoy AAA CLO Fund (JAAA) featuring AAA-rated collateralized loan obligations, and the Janus Henderson Anemoy Treasury Fund (JTRSY) backed by U.S. Treasury assets. Janus Henderson brings substantial traditional finance credibility to the project, managing $373 billion in assets globally.
Avalanche was selected due to its high throughput (4,500+ TPS), subnet customization capabilities, low transaction costs, and Ethereum Virtual Machine compatibility. This infrastructure enables institutional-grade compliance requirements while maintaining blockchain's core advantages of transparency and efficiency. Grove's team, featuring alumni from Deloitte, Citigroup, and BlockTower, previously facilitated MakerDAO's expansion into tokenized Treasuries and aims to replicate this success for structured credit markets.
The tokenization initiative addresses key financial pain points by enabling fractional ownership of traditionally illiquid assets, reducing settlement times from days to minutes, and eliminating intermediary costs. However, challenges remain around regulatory clarity, legal enforceability of digital ownership, and establishing standardized valuation frameworks for tokenized assets.