NYLIM partners with Centrifuge to offer a blockchain-based corporate bond fund, settling transactions in USDC for crypto investors.
New York Life Investment Management has introduced its first tokenized fund, a high-yield corporate bond strategy trading under the ticker HYB. The fund, launched in collaboration with blockchain platform Centrifuge, allows eligible investors to access NYLIM’s existing bond strategy on-chain, with transactions settled in the stablecoin USDC. NYLIM oversees $807 billion in assets and aims to modernize its fixed-income operations through tokenization.
The fund retains NYLIM’s traditional investment process and risk management framework but leverages Centrifuge’s platform to tap into decentralized finance markets. This move reflects a broader trend among Wall Street firms exploring blockchain technology to enhance liquidity and accessibility. The launch is among the earliest attempts to bring a high-yield bond fund onto public blockchain infrastructure.
No immediate market reaction was reported following the announcement. The fund targets crypto-native investors seeking exposure to traditional fixed-income assets through digital channels.