New York Life Investment Management has partnered with Centrifuge to launch a tokenized version of its US High Yield Bond Fund.
The fund allows qualified institutional investors to access NYLIM’s high-yield bond strategy through blockchain rails, bypassing traditional paperwork-heavy processes.
Centrifuge, which has facilitated over $2 billion in tokenized real-world assets, hosts the active pool on its platform. The protocol has matured into an institutional-grade system, already working with Apollo and Janus Henderson.
Specific issuance size and yield figures remain undisclosed, consistent with products targeting institutional buyers rather than retail investors.
The move introduces a new asset class to tokenization, shifting beyond the treasury-focused products that defined early efforts. For institutions, the appeal is faster settlement and greater transparency in a notoriously opaque high-yield bond market. However, the blockchain wrapper does not eliminate underlying credit, interest rate, or liquidity risks.