New York Life Investment Management launches first tokenized high-yield corporate bond fund with Centrifuge
New York Life Investment Management has launched what it describes as its first tokenized investment product, a high-yield corporate bond fund built with Centrifuge and structured to settle subscriptions and redemptions in USDC.
According to Centrifuge’s official blog post, the new product is called HYB and is tied to New York Life Investment Management’s high-yield corporate bond strategy. The launch extends tokenization into a fixed-income strategy that sits beyond the Treasury and private credit products that have dominated much of the early RWA narrative.
Crypto and market coverage described the fund as a tokenized version of New York Life Investment Management’s U.S. High Yield Corporate Bond Strategy, with Centrifuge providing the blockchain-based infrastructure for the product. Available reporting also said the offering is aimed at institutional investors, although the exact distribution details were not fully laid out in the provided sources.
The launch adds another large traditional asset manager to the tokenization segment, but the available material focuses on the product announcement itself rather than early usage, inflows or performance. Additional confirmation on how broadly the fund will be distributed and how quickly it will be adopted remains pending.
