
Ethena is partnering with @Centrifuge as a strategic tokenization partner, with the integration of JAAA, Janus Henderson's AAA CLO strategy, into USDe's backing. This is the first non-T-Bill RWA collateral in USDe's backing, approved by the Ethena Risk Committee following independent due diligence. Every RWA is evaluated against four strict criteria: liquidity, credit quality, drawdown profile, and pricing transparency. AAA RWA returns are driven by factors independent of crypto markets. Diversifying USDe's backing into these assets strengthens its resilience across market cycles.




















