The protocol's latest upgrade converts off-chain manager mandates into enforceable smart contracts, tightening governance over tokenized real-world asset portfolios. The new feature, called the Onchain Execution Policy, publishes a defined set of permissible actions before deposits are accepted, then enforces those boundaries on every subsequent transaction. That version introduced the Onchain Portfolio Manager, a construct capable of separating the creation of investment policy from its execution. Why tokenized asset management needed thisCentrifuge’s Onchain Execution Policy closes that gap. The V3 initiative, which began rolling out progressively in 2025, reflects a more ambitious goal: becoming the infrastructure layer for the entire lifecycle of on-chain asset management, from issuance through administration, accounting, and eventual redemption.