According to official news, Centrifuge and Pharos have announced a collaboration aimed at enabling large-scale on-chain distribution and operation of institutional-grade assets, such as tokenized US Treasury bonds (JTRSY) and AAA-rated structured credit products (JAAA), through a shared infrastructure framework. This collaboration will combine Centrifuge's tokenization infrastructure with Pharos' Layer 1 to provide liquidity and distribution layers for Centrifuge-issued assets, addressing the challenges of distributing institutional assets in on-chain finance. Centrifuge Labs CEO Bhaji Illuminati stated that tokenization alone cannot solve accessibility and usability issues; this collaboration focuses on building distribution and infrastructure layers. Pharos CEO Wish Wu stated that the challenge lies not in demand, but in infrastructure, and the collaboration aims to create an environment where institutional assets can remain active on-chain. Pharos is a financial Layer 1 designed for RealFi, developed by a team of former Ant Group leaders and engineers, and has received investment from institutions such as Hack VC and Faction VC.