$46.03 million JAAA, ranked No. 1 in Horizon physical asset collateral supply
Original headline4603만달러 JAAA, 호라이즌 실물자산 담보 공급액 1위
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Janus Henderson's tokenized AAA CLO fund JAAA has become the largest real-world asset (RWA) collateral supplied on Aave Horizon, with DefiLlama data showing $46.03 million supplied as of November 8, ahead of tokenized RWA peers mGLOBAL at $30.81 million and USCC at $14.84 million. Aave raised JAAA's loan-to-value ratio from 81% to 87% in October, increasing its borrowing capacity on the lending market launched in August 2025 that lets users post tokenized RWAs to borrow stablecoins. The ranking is limited to RWA collateral only, as stablecoins RLUSD and GHO account for larger total supplies on Horizon. The milestone signals growing institutional demand for tokenized credit products as DeFi collateral, and the next thing to watch is whether Aave further adjusts JAAA's risk parameters and whether competing tokenized funds close the supply gap.
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Named in this story
JAAA, Aave Horizon, Janus Henderson Anemoy AAA CLO Fund, DefiLlama, USCC, mGLOBAL, RLUSD, GHO