LayerZero

Base

Centrifuge

Chronicle

<a href="https://x.com/centrifuge" rel="noopener noreferrer nofollow">@centrifuge</a> has launched deSPXA on <a href="https://x.com/base" rel="noopener noreferrer nofollow">@base</a>, marking what the protocol describes as the first tokenized S&amp;P 500 exposure that trades around the clock onchain. <cite>The product gives non-US users tokenized exposure to the Anemoy S&amp;P 500 Index Fund (SPXA), built under license from S&amp;P Dow Jones Indices and managed by Janus Henderson, and is live on Base.</cite>
<cite>Unlike tokenized ETFs, deSPXA can be minted and redeemed at NAV by non-US authorized participants, similar to how traditional ETFs operate, and it is the first 24/7 tradeable product with exposure to an equity index fund.</cite> The announcement was made at Consensus 2026 by Base creator <a href="https://x.com/jessepollak" rel="noopener noreferrer nofollow">@jessepollak</a>, who signalled that sports, credit, and equities are all coming onchain next.
<h2 id="institutional-backing-and-the-derwa-framework">Institutional Backing and the deRWA Framework</h2>
The launch carries significant institutional weight. Coinbase named <a href="https://x.com/centrifuge" rel="noopener noreferrer nofollow">@centrifuge</a> a preferred tokenization infrastructure partner, with Coinbase Ventures taking a strategic stake to accelerate institutional asset issuance on Base. <cite>The collaboration brings together trusted benchmark data from S&amp;P Dow Jones Indices, institutional asset management from Janus Henderson, and Centrifuge's tokenization infrastructure to deliver world-class digital native, investable indices onchain.</cite>
deSPXA is the flagship product of Centrifuge's deRWA framework, a structure designed to let tokenized assets interact natively with DeFi protocols while keeping institutional compliance intact. <cite>The integration is built on Centrifuge V3, with Chronicle delivering real-time, verifiable pricing data for the underlying assets, while LayerZero will power future multichain expansion and Keyrock provides market making services.</cite>
<cite>The collaboration will help enable S&amp;P DJI-licensed asset managers to launch programmable, compliant index-tracking funds using smart contracts and S&amp;P DJI's official daily index files, marking one of the first times S&amp;P DJI has licensed its indices directly to providers of onchain financial solutions.</cite>
<h2 id="a-growing-market-still-locked-in-permissioned-wallets">A Growing Market Still Locked in Permissioned Wallets</h2>
<cite>The tokenized asset market has crossed $25 billion, but the next phase of growth will be defined by distribution, usability, and trust, with the deRWA framework built for that shift.</cite> The core problem it targets is one of interoperability: most tokenized assets currently sit in permissioned wallets with no meaningful DeFi composability.
<cite>According to data from rwa.xyz and PYMNTS, the on-chain RWA market excluding stablecoins reached approximately $26 billion in March 2026, up from roughly $6.5 billion a year earlier, a growth rate of around 300 percent.</cite> Yet scale alone has not solved accessibility. <cite>deSPXA marks a structural shift in how tokenized assets are issued, distributed, and used, as for the first time exposure to an equity index fund will be liquid and tradeable 24/7, unlocking novel DeFi use cases.</cite>
The product is available exclusively to eligible non-US persons in reliance on Regulation S under the U.S. Securities Act of 1933 and is not available to US persons or in any jurisdiction where such an offering would be unlawful.
Sources: <a href="https://centrifuge.io/blog/despxa-on-base" rel="noopener noreferrer nofollow">Centrifuge: deSPXA on Base Launch Announcement</a> <a href="https://centrifuge.io/blog/centrifuge-sp500-proof-of-index" rel="noopener noreferrer nofollow">Centrifuge: S&amp;P 500 Proof-of-Index Infrastructure</a> <a href="https://www.finextra.com/blogposting/31625/tokenized-real-world-assets-reading-the-2026-numbers-behind-the-headline-growth" rel="noopener noreferrer nofollow">Finextra: Tokenized RWA 2026 Market Analysis</a>

The S&P 500 Is Now Onchain 24/7

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