Janus Henderson invests in Ethena's ENA token and backs USDe stablecoin with AAA CLO fund.

Janus Henderson, managing $480 billion, invested in Ethena's ENA governance token and adopted the USDe stablecoin for treasury cash management. Ethena will back USDe with Janus Henderson's tokenized AAA-rated collateralized loan obligation (CLO) fund, marking a significant move into corporate credit beyond traditional crypto and US Treasury reserves. This partnership also allows Janus Henderson to explore distributing USDe to its clients, expanding Ethena's reach into institutional channels. The deal highlights growing integration between traditional finance and decentralized finance through real-world asset backing.