tokenized markets aren't stopping at treasuries and equities anymore. @Schroders just launched its first tokenized strategy, emerging markets debt (EMD), through @centrifuge on @solana. for context: + EMD = bonds issued by emerging market governments and companies. they carry credit and currency risk, a very different profile from treasuries + the token gives exposure to the Schroder International Selection Fund Emerging Market Bond. holders own feeder shares, not the bonds directly + Schroders has run EMD for 50+ years, with 40+ dedicated EMD professionals across sovereign, corporate and local-currency strategies + Schroders manages $1.16t+ in AUM, roughly 29x the entire ~$40b distributed rwa market + Solana holds $4b+ in tokenized rwa + centrifuge already powers on-chain strategies for Janus Henderson, Apollo, New York Life Investment Management and S&P Dow Jones Indices. Schroders is the latest. why it matters: on-chain fixed income today is mostly tokenized cash and short-term treasuries. EMD brings an actively managed strategy with a completely different risk/return profile. ➜ if Schroders moved just 1% of its AUM on-chain, that's ~$11.6b, more than double Solana's entire rwa base. ➜ rwa is now growing in breadth, not just size.