New York Life Investment Management has partnered with Centrifuge to launch its first tokenized fund, bringing a U.S. high-yield corporate bond strategy onchain.
Summary
- NYLIM launched its first tokenized offering through Centrifuge, starting with a high-yield bond strategy.
- The HYB product gives eligible investors onchain access to NYLIM’s fixed-income investment process.
- Subscriptions and redemptions will settle in USDC while NYLIM keeps portfolio management unchanged.
New York Life Investment Management, known as NYLIM, partnered with Centrifuge to launch the NYLIM Anemoy U.S. High Yield Corporate Bond Segregated Portfolio. The product will trade under the ticker HYB and marks NYLIM’s first tokenized offering.
NYLIM has about $807 billion in assets under management, according to the announcement. The asset manager said the launch gives eligible investors access to its high-yield corporate bond strategy through digital infrastructure.
High-yield bond strategy moves onchain
The HYB product brings NYLIM’s U.S. High Yield Corporate Bond Strategy to Centrifuge’s platform. The companies said the underlying portfolio, investment process and risk management approach will remain with NYLIM and will not change because of the tokenized structure.
The fund will use Centrifuge’s institutional fund infrastructure. Subscriptions and redemptions will settle in USDC, according to the Centrifuge announcement. The offering is aimed at eligible investors, rather than broad retail access.
NYLIM sees demand for tokenized access
“Tokenization represents a compelling evolution in how investment solutions can be accessed, managed and distributed across both public and private markets,” Thomas Sy, Head of Multi-Asset Solutions at NYLIM, said.
“As investor demand continues to grow around transparency, efficiency and broader market participation, we are exploring opportunities where blockchain-enabled infrastructure can complement our existing platform and deepen the value we deliver to clients,” Sy said.
The launch places NYLIM among large asset managers testing tokenized versions of traditional investment products. The product also expands tokenized credit beyond U.S. Treasuries and money market funds, which have formed a large share of real-world asset activity.
Centrifuge expands RWA fund infrastructure
“We’re proud to work with NYLIM and we’re starting with a fund that fills a gap for onchain investors that existing infrastructure cannot address,” Anil Sood, CSO and co-founder of Centrifuge Labs, said.
“But this is bigger than a single product: It is about moving funds onto infrastructure that is more transparent, more efficient, and more composable,” Sood said. He added that NYLIM is a partner for Centrifuge as it works to bring more established funds onchain.
Meanwhile, Centrifuge launched decentralized RWA tokens on Aerodrome in 2025, making tokenized assets tradable and usable as collateral across EVM platforms. That launch included deJAAA, a tokenized version of the Janus Henderson Anemoy AAA CLO Fund.
As reported earlier by crypto.news, Ethena also selected Centrifuge as a tokenization partner in June, alongside a deal with Janus Henderson. The recent NYLIM launch adds another fixed-income strategy to Centrifuge’s growing list of institutional tokenization projects.
Previously, crypto.news reported that tokenized real-world assets had crossed $29 billion by April 2026, while tokenized U.S. Treasuries had reached $13.4 billion. The HYB launch shows how tokenization is moving into corporate credit products as asset managers test blockchain-based distribution and settlement.
