Summary
- New York Life Investment Management, the $807 billion asset management arm of major life insurer New York Life, is launching its first tokenized fund with Centrifuge.
- The offering brings a U.S. high-yield corporate bond strategy onchain, with subscriptions and redemptions settled in USDC stablecoin.
- The move expands tokenization beyond Treasuries and private credit into higher-yield fixed-income products.
New York Life Investment Management (NYLIM), the $807 billion asset management arm of major life insurer New York Life, is bringing its first investment strategy onto blockchain rails, joining a growing list of Wall Street firms embracing tokenized funds.
The firm stated Tuesday it is partnering with tokenization platform Centrifuge to launch a blockchain-based version of its U.S. High Yield Corporate Bond Strategy. The fund, called the NYLIM Anemoy U.S. High Yield Corporate Bond Segregated Portfolio (HYB), is the firm’s first tokenized investment product.
“Tokenization represents a compelling evolution in how investment solutions can be accessed, managed and distributed,” Thomas Sy, head of multi-asset solutions at NYLIM, stated in a statement.
Eligible investors will be able to subscribe to and redeem shares using Circle’s USDC stablecoin, while New York Life continues to manage the underlying portfolio and investment strategy.
