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New York Life Takes High-Yield Bond Strategy Onchain With Centrifuge
New York Life Investment Management is partnering with Centrifuge to tokenize a US high-yield corporate bond strategy. This initiative aims to bring an institutional fixed-income strategy onto the blockchain. The tokenized product will be built on the Avalanche blockchain. Investors will be able to subscribe and redeem their investments using USDC. Access to this tokenized strategy is exclusively for qualified institutional buyers. This move signifies a significant step in bringing actively managed credit strategies onto public blockchain rails. It is distinct from tokenized Treasury products, offering a different risk and return profile. Centrifuge is providing the necessary tokenization infrastructure for this institutional investment strategy. The use of Avalanche offers a blockchain settlement and ownership layer. USDC will facilitate the digital-dollar mechanism for transactions.
