Schroders puts an emerging market bond fund on Solana via Centrifuge

The Schroders tokenised bond fund went live on the Solana blockchain on 4 November 2026, launched by tokenisation platform Centrifuge. It gives onchain exposure to the London-based manager's actively managed emerging market debt strategy and is Schroders' first deployment on Solana.

The move takes tokenised funds beyond cash. Until now, onchain fixed income has largely been built on money market funds and short-dated government securities, and an emerging market bond fund carries credit and currency risk that a cash fund does not.

How the feeder fund is built

The product is the Schroder International Selection Fund Emerging Market Bond. It is legally a feeder fund with an onchain share class, which means it invests in Schroders' Emerging Market Bond Fund rather than holding bonds directly. Investors hold tokenised shares in the feeder, and the value of each share tracks its net asset value, which is the fund's assets less its liabilities, divided by the shares in issue.

The strategy covers sovereign, corporate and local-currency debt. The fund's size, its domicile and the investors eligible to buy it have not been disclosed.

Centrifuge and the Solana launch

Centrifuge, which says it now has more than $750 million of tokenised assets on its platform, provides the infrastructure to issue and manage the shares. Anil Sood, its chief strategy and growth officer, said: "Until now, onchain fixed income has largely been built around cash and short-duration government securities."

John Mensack, senior investment director at Schroders, said: "Emerging markets debt is an asset class where experience, local insight and active management are particularly important."

Centrifuge has done similar work before with New York Life Investment Management, which used it for a tokenised high yield corporate bond strategy. Coinbase also engaged it to tokenise exchange traded funds, credit funds and structured products on Base.

From a money market share class to Solana

In August 2026 Schroders obtained approval in Ireland for a tokenised share class of a US dollar money market fund. On 4 November 2026 it launched a bond strategy on a public blockchain. The sequence runs from a cash fund to a credit fund in under three months.

Other asset managers are moving the same way. Aviva Investors gave its Sterling Liquidity Fund a tokenised class, Federated Hermes plans self-issued tokenised fund shares for early 2027, and Spiko has raised $90 million for tokenised cash funds, including in sterling.

Questions about the Schroders tokenised bond fund

A feeder structure adds a layer between the token holder and the bonds and several questions arise from that like: who can subscribe, what fees apply at both levels, how quickly is a redemption paid in cash, and what happens to the token when emerging market bonds are hard to sell.

For a UK startup treasurer, the answer will usually be that this is not runway money. A bond fund with currency and credit risk can fall in value, and a token that trades at any hour does not change the liquidity of the bonds underneath. The counter-argument is that onchain shares could widen distribution to buyers who cannot reach a traditional platform, but eligibility has not been stated.

The relevance for founders is as evidence of where regulated tokenised funds are heading, not as a cash management product. This is general information, not legal, tax or investment advice.

This is general information, not legal, tax or investment advice.

Key takeaways

• Centrifuge launched the Schroders Emerging Market Bond fund on Solana on 4 November 2026, Schroders' first deployment on the network.

• The product is a feeder fund with an onchain share class that invests in Schroders' Emerging Market Bond Fund.

• The fund's size, domicile and eligible investors have not been disclosed.

• The launch follows Schroders' August 2026 Irish approval for a tokenised money market share class, moving from cash to credit.