Key Takeaways:
New York Life Investment Management, the $807 billion asset manager, launched its first tokenized fund on Centrifuge, bringing a high-yield corporate bond strategy onchain.
"Tokenization represents a compelling evolution in how investment solutions can be accessed, managed and distributed," Thomas Sy, head of multi-asset solutions at NYLIM, said.
The fund, called the NYLIM Anemoy U.S. High Yield Corporate Bond Segregated Portfolio, allows eligible investors to subscribe and redeem using Circle's USDC stablecoin. New York Life continues to manage the underlying portfolio and investment strategy, while Centrifuge provides the blockchain infrastructure for issuance and settlement.
Centrifuge, which also tokenizes funds from Apollo and Janus Henderson, is the preferred tokenization partner of Coinbase, which made a strategic investment in the firm. The platform has become a key infrastructure provider for traditional asset managers seeking to bring institutional strategies onchain.
The launch adds another blue-chip asset manager to Wall Street's tokenization push, following BlackRock, Franklin Templeton and Apollo. Supporters argue the technology can shorten settlement times, improve operational efficiency and allow assets to move more easily across blockchain-based financial applications.
The tokenized real-world asset market has grown to more than $30 billion excluding stablecoins, according to rwa.xyz. Citi projects tokenized assets could reach $5.5 trillion by 2030, while Standard Chartered estimates the market could expand to $2 trillion by 2028 as blockchain-based finance gains wider adoption.
The move expands tokenization beyond Treasury funds and private credit into higher-yield fixed-income products, as legacy financial institutions move beyond pilot programs into live product offerings. While early institutional efforts centered on tokenized U.S. Treasury funds, firms are increasingly expanding into other asset classes such as private credit, equities and corporate bonds.
For Centrifuge, the partnership with NYLIM adds another large asset manager to its platform, strengthening its position as a leading tokenization infrastructure provider. The firm's assets are increasingly integrated into decentralized finance protocols such as Aave and Morpho, creating new distribution channels for traditional investment products.
The high-yield corporate bond strategy represents a natural progression for tokenization, as these assets typically offer higher yields than Treasuries and benefit from the operational efficiencies of blockchain-based settlement. The use of USDC for subscriptions and redemptions also demonstrates the growing role of stablecoins in institutional capital markets.
This article is for informational purposes only and does not constitute investment advice.
