Hyperdrive Adds Centrifuge’s deSPXA as Collateral for USDC Loans

Hyperdrive has added Centrifuge’s deSPXA to a Base lending market, allowing eligible non-U.S. users to borrow USDC against tokenized exposure to the S&P 500.

The integration gives deSPXA another potential use in credit markets beyond trading and lending through Morpho. Users who meet the eligibility requirements can deposit the tokenized asset as collateral for USDC loans.

deSPXA represents exposure to the Anemoy S&P 500 Index Fund, which is managed by Janus Henderson and licensed by S&P Dow Jones Indices. Centrifuge launched the token on Base on March 30, 2026.

Access is limited to non-U.S. persons outside restricted jurisdictions under Regulation S. The restriction keeps the market unavailable to U.S. users under the terms described for the token’s launch.

Hyperdrive also offered 50,000 USDC in lender incentives over six months when it announced its real-world-asset markets on Sept. 29, 2026.

The integration gives tokenized equity exposure another potential use in credit markets. A separate Base market supports tokenized U.S. shares as USDC collateral, giving eligible users another way to obtain dollar liquidity without selling their tokenized exposure.

Before the Hyperdrive integration, eligible users could use deSPXA as collateral on Morpho and trade it on Aerodrome and Definitive. Its design is intended to let eligible non-U.S. users use tokenized S&P 500 exposure across multiple DeFi applications.

“Real-world assets that can move at the speed of crypto assets are the unlock that this market has been waiting for,” said Anil Sood, chief strategy officer of Centrifuge Labs.