Schroders puts an emerging markets bond fund on Solana via Centrifuge

Centrifuge launched an emerging markets debt strategy managed by Schroders on Solana on November 4, 2026. The Block described it as "marking the $1 trillion-plus asset manager's first deployment on the network". This article sets out what the launch is and where it sits next to our on-chain counts.

What did Schroders launch on Solana?

The launch introduces the Schroder International Selection Fund Emerging Market Bond fund. The Block says the strategy spans sovereign, corporate and local-currency investments. Schroders' own words on the launch: "marking our first deployment on the network".

The structure uses a tokenized feeder fund with an onchain share class that invests in Schroders' existing Emerging Market Bond fund. Investors do not hold the underlying bonds directly on Solana.

The sources we read do not state how much money is in the fund on-chain. We do not report a figure for it.

Why is this different from most tokenized funds?

Most tokenized funds so far hold cash-like assets. Anil Sood of Centrifuge said, "Until now, onchain fixed income has largely been built around cash and short-duration government securities."

Emerging markets debt carries other risks. These include sovereign credit, corporate credit, local interest rates and foreign exchange movements. That makes it a different kind of product from the Treasury money funds in our Treasury count.

Does the fund appear in The Migration's counts?

No. In our count we track three groups: tokenized U.S. Treasury funds, cash-backed dollar stablecoins and gold-backed tokens. A bond fund holding emerging markets debt fits none of them. Only addresses the issuer publishes or confirms in writing are counted. Our counts update every 6 hours. Our full method is in How we count.

If we add a new category, we will say so and give an as-of date.

How much of our count already sits on Solana?

As of November 4, 2026, Solana is the third-largest chain for tokenized Treasuries in our count. It is also a large venue for dollar stablecoins.

Two Treasury funds lead on Solana. JLTXX, the JPMorgan OnChain Liquidity-Token Money Market Fund, has $741.0 million there. BUIDL, BlackRock's fund issued via Securitize, has $672.9 million there.

For the wider picture by fund, see Tokenized U.S. Treasuries, counted fund by fund. For the chain race, see BNB Chain now holds more tokenized Treasuries than Ethereum.

Who else is building on this rail?

Centrifuge is the infrastructure provider here. It is also the platform behind JTRSY, the Janus Henderson Anemoy Treasury Fund. In our count, JTRSY holds $117.4 million as of November 4, 2026.

That fund is a Treasury fund and sits in our Treasury count. The Schroders fund does not.

What to watch

• Whether Schroders or Centrifuge publish an on-chain size for the fund.
• Whether the fund adds other blockchains. Centrifuge's announcement says it "initially launches" on Solana.
• Whether other managers follow with strategies beyond Treasuries, which would test how we define our counts.
• Our next update to the Treasury count, refreshed every 6 hours.