New York Life Investment Management brings $807B manager onto blockchain with tokenized high-yield fund New York Life Investment Management (NYLIM) has taken a major step into crypto by launching its first tokenized fund in partnership with Centrifuge. The NYLIM Anemoy U.S. High Yield Corporate Bond Segregated Portfolio — which will trade under the ticker HYB — digitizes NYLIM’s U.S. high-yield corporate bond strategy and puts it on Centrifuge’s institutional fund infrastructure. Why it matters - NYLIM, which manages roughly $807 billion in assets, is one of the largest active asset managers globally. This is its first onchain product and marks a broader push by big managers to test blockchain-enabled distribution and settlement. - HYB expands tokenized credit beyond the usual onchain staples—U.S. Treasuries and money market funds—and into corporate credit, an area that has been less represented among real-world asset (RWA) tokenization projects. - Subscriptions and redemptions for HYB will settle in USDC, and the offering is targeted at eligible (institutional or accredited) investors rather than general retail. What’s unchanged NYLIM and Centrifuge emphasize that the tokenized format does not alter the underlying investment: the portfolio, investment process and risk-management framework remain under NYLIM’s control. Centrifuge provides the blockchain-native infrastructure that enables onchain trading, settlement in stablecoin, and greater composability across DeFi rails. Quotes from the launch “Tokenization represents a compelling evolution in how investment solutions can be accessed, managed and distributed across both public and private markets,” said Thomas Sy, Head of Multi-Asset Solutions at NYLIM. He added that NYLIM is exploring where blockchain-enabled infrastructure can complement its platform to deliver greater transparency, efficiency and market access. “We’re proud to work with NYLIM and we’re starting with a fund that fills a gap for onchain investors that existing infrastructure cannot address,” said Anil Sood, CSO and co-founder of Centrifuge Labs. “But this is bigger than a single product: It is about moving funds onto infrastructure that is more transparent, more efficient, and more composable.” Where this fits in the RWA landscape Centrifuge has been active in institutional tokenization: it launched decentralized RWA tokens on Aerodrome in 2025 — enabling tokenized assets to be tradable and used as collateral across EVM chains — and that program included deJAAA, a tokenized version of the Janus Henderson Anemoy AAA CLO Fund. Centrifuge has also been tapped by Ethena (in June) and has worked with Janus Henderson on other deals. The NYLIM HYB launch adds another institutional fixed-income strategy to Centrifuge’s roster. Market context Tokenized real-world assets have been gaining steam: by April 2026, RWAs were estimated at $29 billion onchain, with tokenized U.S. Treasuries accounting for roughly $13.4 billion. HYB’s debut underscores an ongoing shift as asset managers experiment with blockchain-based distribution, settlement and composability—bringing more complex credit products to the onchain economy. Bottom line NYLIM’s HYB is an important signal that large, traditional asset managers are willing to pilot tokenized versions of mainstream products. By combining NYLIM’s investment expertise with Centrifuge’s infrastructure, the launch aims to make high-yield corporate credit more accessible to eligible investors through crypto-native rails while keeping core portfolio management and risk controls firmly in place. Read more AI-generated news on: undefined/news