FinanceNew York Life Enters Tokenization with On-Chain High-Yield Bond Fund via Centrifuge
The $807 billion asset management firm is introducing a high-yield corporate bond strategy on the blockchain, marking a shift beyond tokenized Treasury funds for Wall Street.
By Krisztian Sandor|Edited by Omkar Godbole Jun 30, 2026, 11:20 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on
New York Life building in New York (Jonny Gios/Unsplash)- New York Life Investment Management, the $807 billion asset management division of the prominent life insurer New York Life, is rolling out its first tokenized fund in collaboration with Centrifuge.
- This fund introduces a U.S. high-yield corporate bond strategy on the blockchain, with subscriptions and redemptions handled using the USDC stablecoin.
- This initiative extends tokenization efforts beyond Treasury and private credit to encompass higher-yield fixed-income products.
New York Life Investment Management (NYLIM), the $807 billion asset management segment of New York Life, is set to launch its inaugural investment strategy using blockchain technology, joining a growing number of Wall Street firms that are adopting tokenized funds.
The company announced on Tuesday its partnership with Centrifuge to introduce a blockchain version of its U.S. High Yield Corporate Bond Strategy. The fund, named the NYLIM Anemoy U.S. High Yield Corporate Bond Segregated Portfolio (HYB), represents the firm’s first tokenized investment offering.
Thomas Sy, head of multi-asset solutions at NYLIM, stated, "Tokenization signifies an exciting evolution in how investment solutions can be accessed, managed, and distributed."
Eligible investors will have the option to subscribe to and redeem shares using Circle's USDC stablecoin, while New York Life will continue managing the underlying portfolio and investment strategy.
This launch adds a prestigious asset manager to Wall Street's ongoing tokenization trend. Other firms such as BlackRock, Franklin Templeton, Apollo, and Janus Henderson have also adopted on-chain versions of traditional funds, with the belief that this technology can enhance the issuance, transfer, and settlement of assets. Proponents suggest that it can reduce settlement times, boost operational efficiency, and facilitate asset movement across blockchain-based financial applications.
For Centrifuge, this collaboration brings another significant asset manager to its platform. The company already tokenizes funds from Apollo and Janus Henderson, with these assets increasingly integrated into decentralized finance protocols like Aave and Morpho. Additionally, Centrifuge is the preferred tokenization partner for Coinbase, which has invested strategically in the firm.
The market for tokenized real-world assets has surpassed $30 billion, excluding stablecoins, according to rwa.xyz. Citi forecasts that tokenized assets could reach $5.5 trillion by 2030, while Standard Chartered estimates the market could grow to $2 trillion by 2028 as blockchain finance becomes more widely adopted.
As initial institutional efforts focused on tokenized U.S. Treasury funds, companies are now broadening their scope to include various asset classes such as private credit, equities, and corporate bonds.
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