New York Life Partners with Centrifuge to Tokenize High-Yield Bond Strategy

New York Life Investment Management is partnering with Centrifuge to tokenize a US high-yield corporate bond strategy on the Avalanche blockchain. Qualified institutional buyers will be able to subscribe and redeem using USDC. The initiative aims to provide tokenization infrastructure for an institutional investment strategy managed by NYLIM, which oversees over 300 billion dollars in assets. This product will not be available to the general public, as access is limited to qualified institutional buyers. The use of Avalanche allows for blockchain settlement and ownership, while USDC facilitates digital-dollar transactions. This development signifies a shift in institutional blockchain adoption, moving beyond tokenized Treasury products to include high-yield corporate bonds, which present a different risk and return profile. The announcement on September 17 marks another step for established asset managers in exploring how traditional investment products can be issued and serviced via public blockchain.

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