Global asset manager Janus Henderson and on-chain asset manager Anemoy have won a US$200 million allocation in the Spark Tokenization Grand Prix competition.

The initiative, launched in August, focused on expanding Sky’s ( formerly MakerDAO ) investment exposure to short-duration US treasury bills and related tokenized products.

Anemoy put forth the winning bid for their treasury fund – the Janus Henderson Anemoy Treasury Fund ( JRTSY ). Janus Henderson serves as a sub-adviser. JRTSY has received an AA+f/S1+ rating from S&P, Aa rating from Moody’s, A+ rating from Particula, and top ratings for tokenized funds across all respective agencies.

Centrifuge will provide the foundational tokenization technology that powers the entire fund infrastructure. The selection process, which began in September 2024, has been described as the most rigorous request for proposals ( RFP ) conducted in the digital asset space. The proposal was selected from nearly 40 applicants, including many of the largest traditional and digital asset managers, following a comprehensive due diligence process.

The Grand Prix win, the asset managers says, validates Centrifuge’s distinctive approach of combining comprehensive tokenization infrastructure that supports any issuer and asset while embodying decentralized finance fundamentals, with Anemoy’s regulated asset management capabilities that bridge institutional funds and blockchain.

Beyond treasury bills, the proposal closely aligned with Sky’s requirements for:

• Enhanced liquidity – The Anemoy Liquidity Network, built on Centrifuge technology, offers clients access to an institutional-grade instant redemption facility in USDC and DAI, available 24/7/365.
• Ecosystem integration – Leveraging Centrifuge’s established relationship with Sky and experience developing financial products for the crypto ecosystem.
• Portfolio diversification – The bid includes institutional-grade fixed-income token funds, expanding the Sky investor toolkit to better navigate an evolving interest rate and macroeconomic landscape.

“Janus Henderson has been exploring blockchain adoption for years, but the Sky RFP was the first clear demand driver that made the opportunity compelling,” says Nick Cherney, Janus Henderson’s global head of innovation. “The early validation of our approach signals a promising path for continued growth and innovation in blockchain.”

Anil Sood, Centrifuge’s chief strategy and growth officer and Anemoy’s co-founder, adds: “The tokenization market is expected to reach US$16 trillion by 2030, according to Boston Consulting Group. Being selected as one of only three winners validates Centrifuge’s technology stack and Anemoy’s approach to bringing institutional-grade tokenized financial instruments to market.”