Pendle launches AAA CLO yield trading with deJAAA token

Pendle has opened a market for deJAAA, a token that wraps exposure to Janus Henderson’s AAA-rated collateralized loan obligation strategy. The DeFi yield-trading protocol now lets users carve that exposure into separate principal and yield pieces and trade them on-chain. What Pendle actually launched The new market went live on October 21, 2026. It centers on deJAAA, a wrapper for the Janus Henderson Anemoy AAA CLO Fund, better known by its ticker, JAAA. The market is expected to mature on November 26, 2026. A CLO is a bundle of corporate loans, sliced into layers that get paid in order of seniority. The AAA layer sits at the front of the line, so it gets paid first and carries the least risk. JAAA holds that senior slice. deJAAA is a freely transferable wrapper around JAAA shares, built so the asset can move around DeFi while keeping the same underlying economics. Pendle’s role is to take that wrapper and split it in two. One piece represents the principal. The other represents the yield stream it generates over time. The numbers behind JAAA JAAA launched in mid-2025 as a tokenized professional fund domiciled in the British Virgin Islands. It is tokenized by Anemoy Capital SPC (BV...