Centrifuge launches first DeFi token with S&P 500 exposure

The tokenization platform Centrifuge launched SPXA on March 30, a token that gives exposure to the S&P 500 through the Base blockchain. The asset is built under license from S&P Dow Jones Indices and is managed by Janus Henderson, one of the largest institutional asset managers in the world with nearly $500 billion under management.

It is the first S&P 500 token which can be minted and redeemed by non-US participants, similar to how ETFs work in traditional markets.

Unlike tokenized products that simply replicate an asset with no further utility, deSPXA is designed to integrate natively into the decentralized finance (DeFi) ecosystem.

Users will be able to operate the token on different platforms in the ecosystem, including using it as collateral to request loans in Morpho, it will also allow short trading (by operating as a derivative) and incorporating it into yield farming strategies.

The technical infrastructure runs on Centrifuge V3, with real-time verifiable pricing provided by Chronicle Labs and future multichain expansion provided by LayerZero.

The release of deSPXA is the first application of Centrifuge’s deRWA framework, which seeks that institutional assets can circulate freely in DeFi, without losing regulatory compliance controls in the issuance.

This is not Centrifuge’s first brush with the S&P 500. In September 2025, the platform launched SPXAthe first tokenized S&P 500 index fund officially licensed by S&P Dow Jones Indices.

Unlike SPXA, the SPXA token is the version of that fund designed specifically for DeFi trading: freely transferable that wraps the institutional fund and makes it compatible with decentralized protocols.

The big players continue to bet on tokenization

The launch occurs at a time of acceleration in the tokenized asset marketwhich – as of March 23, 2026 – has already reached $22.6 billion in value distributed on-chain. Institutions such as BlackRock, Franklin Templeton and JPMorgan have already launched tokenized funds, and Standard Chartered projects that the majority of financial transactions will eventually be settled on blockchain.

The deSPXA market will be the first product with exposure to an equity index fund that can be traded continuously, seven days a week, without traditional market hours.

For now, deSPXA operates on Base, but Centrifuge has already confirmed expansion to other networks through LayerZero. The token is available exclusively to users outside the United States and restricted jurisdictions.