Tokenization · New York · Wall Street · U.S. · Decrypt
New York Life Investment Management Announces First Tokenized Bond Fund
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New York Life Investment Management, one of the country's largest active asset managers, is moving a piece of its fixed-income business onto the blockchain, partnering with tokenization platform Centrifuge to offer a high-yield corporate bond strategy to crypto-native investors.
Key facts
- The companies announced Tuesday the launch of the NYLIM Anemoy U.S. High Yield Corporate Bond Segregated Portfolio, trading under the ticker HYB
- Thomas Sy, NYLIM's head of multi-asset solutions, said that tokenization reflects investor demand for "transparency, efficiency and broader market participation," and that the firm sees blockchain
- New York Life Investment Management, one of the country's largest active asset managers, is moving a piece of its fixed-income business onto the blockchain, partnering with tokenization platform
- Centrifuge co-founder Anil Sood framed the deal as part of a broader push to migrate institutional funds onto more "transparent" and "composable" digital rails, rather than a one-off product launch
Summary
New York Life Investment Management, which oversees $807 billion in assets, has teamed with blockchain platform Centrifuge to launch its first-ever tokenized fund. The fund keeps NYLIM's existing investment process intact, but allows eligible investors to access it on-chain, with transactions settled in USDC. The deal reflects a growing trend of Wall Street firms experimenting with tokenization to modernize operations and tap into DeFi markets. The companies announced Tuesday the launch of the NYLIM Anemoy U.S. High Yield Corporate Bond Segregated Portfolio, trading under the ticker HYB.