NYLIM tokenises high-yield bond strategy

• New York Life Investment Management launched its first tokenised investment product through Centrifuge, offering eligible investors access to a high-yield corporate bond strategy.
• The HYB fund will settle subscriptions and redemptions in USDC while NYLIM continues managing the underlying portfolio.
• The launch expands blockchain-based distribution into corporate credit as institutional demand for tokenised real-world assets grows.

New York Life Investment Management (NYLIM) has partnered with Centrifuge to launch its first tokenised investment product, giving eligible investors onchain access to the firm's US high-yield corporate bond strategy through the HYB fund.

NYLIM, which manages approximately US$807 billion in assets, said the tokenised structure changes the distribution and settlement process but does not alter the underlying investment strategy, portfolio management or risk controls.

“Tokenisation represents a compelling evolution in how investment solutions can be accessed, managed and distributed across both public and private markets,” said NYLIM Head of Multi-Asset Solutions Thomas Sy.

The HYB fund uses Centrifuge's institutional fund infrastructure, with subscriptions and redemptions settled in USDC, while access is limited to eligible investors rather than the broader retail market.

Centrifuge said the partnership expands its institutional tokenisation platform beyond tokenised US Treasuries and money market funds into high-yield corporate credit as more asset managers explore blockchain-based investment products.

The launch follows Centrifuge's previous tokenisation partnerships with Janus Henderson and Ethena, as well as its rollout of decentralised real-world asset tokens across Ethereum (CRYPTO:ETH) Virtual Machine-compatible blockchain networks.

The latest product reflects continued growth in tokenised real-world assets, with blockchain infrastructure increasingly being used to distribute and settle traditional investment products for institutional investors.

At the time of reporting, Ethereum price was $1,590.03.