Centrifuge & Pharos Partner to Advance Onchain Distribution as Tokenized RWAs Cross $36 Billion

Centrifuge and Pharos have announced a partnership to build shared distribution infrastructure for institutional-grade tokenized assets including U.S. Treasuries and AAA-rated credit products. The deal targets a specific bottleneck: most tokenized assets sit idle after issuance because distribution rails do not exist at scale. With the tokenized RWA market crossing $36 billion and projected to hit $18.9 trillion by 2033, the partnership is a bet that infrastructure, not issuance, is the real constraint.