Top U.S. Global Asset Manager Brings Tokenized High-Yield Bond Fund on Avalanche

NYLIM and Centrifuge Launch Tokenized Bond Fund

New York Life Investment Management (@NYLIManagement), one of the largest active asset managers in the United States with approximately $807 billion in assets under management, has entered the tokenization space with the launch of its first onchain fund. The firm has partnered with @Centrifuge to bring its U.S. High Yield Corporate Bond Strategy onto blockchain rails, with the product listed under the ticker HYB.

The fund, formally named the NYLIM Anemoy U.S. High Yield Corporate Bond Segregated Portfolio, gives eligible investors access to an actively managed institutional credit strategy through Centrifuge's platform. Subscriptions and redemptions are settled in Circle's USDC stablecoin, while the underlying portfolio management, investment process, and risk controls remain unchanged from NYLIM's existing institutional approach.

Pushing Tokenization Beyond Treasuries

The launch is notable for where it sits in the credit spectrum. The tokenized real-world asset market has been dominated by Treasury bills and short-duration instruments, which account for the bulk of onchain fixed-income value. By bringing an actively managed high-yield strategy onchain, NYLIM and Centrifuge are pushing the asset class into higher-yielding, riskier credit territory that has seen little institutional presence until now.

Centrifuge is not new to working with major financial names. The protocol already supports tokenized products with partners including Apollo Global Management and Janus Henderson, covering private credit funds, Treasury strategies, and a flagship CLO portfolio. The NYLIM partnership, however, represents one of the first major insurance-affiliated asset managers to move into tokenization in this way.

The broader RWA tokenization market continues to grow at pace. Data from RWA.xyz shows roughly $38 billion in tokenized RWA value on public blockchains as of late August 2026, up from around $20.6 billion a year earlier. High-yield corporate bonds remain a small but fast-expanding segment of that total.

For NYLIM, the move signals a broader strategic interest in blockchain-based distribution. Thomas Sy, Head of Multi-Asset Solutions at NYLIM, noted that the firm sees tokenization as a meaningful shift in how investment products can be accessed and managed across both public and private markets.

Sources:
Centrifuge and NYLIM Official Press Release (BusinessWire)
CoinDesk: New York Life Makes Tokenization Debut with Centrifuge
The Block: New York Life and Centrifuge Launch Tokenized High-Yield Bond Strategy