Centrifuge and Pendle bring fixed-rate markets to tokenized real-world assets on Base

The partnership pairs Pendle's yield-splitting mechanics with Centrifuge's tokenized credit, starting with a product tied to Janus Henderson's AAA CLO strategy Centrifuge and Pendle Finance are teaming up to build fixed-rate markets for tokenized real-world assets on Base. The partnership was announced on November 3, 2026. How the Centrifuge and Pendle setup works The collaboration combines Centrifuge’s tokenization infrastructure with Pendle’s signature trick: splitting a yield-bearing asset into two parts. Pendle turns those slices into separate tokens. The principal token (PT) lets holders secure a fixed yield. The yield token (YT) lets traders speculate on the floating yield the asset may produce. The first product in the lineup is Centrifuge’s deJAAA. It is tied to Janus Henderson’s AAA collateralized loan obligation (CLO) strategy, which manages over $30 billion. A CLO is a pool of corporate loans sliced into tranches by risk. The AAA tranche sits at the top of the stack, meaning it gets paid first. The deJAAA market is already live The partnership did not start with a press release and a promise. Pendle launched a market for deJAAA on October 21, 2026, ahead of the formal an...