Janus Henderson backs Ethena as USDe adds tokenized AAA CLO exposure

Ethena has partnered with Centrifuge to add Janus Henderson's tokenized AAA CLO strategy, JAAA, to the reserves backing its synthetic dollar USDe. The move marks USDe's first non-Treasury real-world asset allocation. Ethena says the rationale is diversification: AAA CLO performance is not tied to crypto funding rates, providing a yield floor intended to be more resilient across market cycles. The allocation is capped at about $310 million following Risk Committee due diligence. Janus Henderson is also making a strategic investment in Ethena (ethereum:0x57e114b691db790c35207b2e685d4a43181e6061) and plans to explore regulated USDe and ENA offerings for clients later this year.