New York Life Teams Up with Centrifuge to Launch First Tokenized High-Yield Bond Fund

BlockBeats News, June 30, New York Life Investment Management (NYLIM), the asset management arm of life insurance giant New York Life (managing assets totaling $807 billion), announced a partnership with the tokenization platform Centrifuge to launch its first blockchain investment product — NYLIM Anemoy U.S. High Yield Corporate Bond Separate Account (HYB). The fund will tokenize its U.S. high yield corporate bond strategy on the blockchain. Eligible investors can subscribe to and redeem shares using the USDC stablecoin issued by Circle, while the underlying portfolio will continue to be managed by New York Life.

This partnership expands Centrifuge's roster of asset management partners. Previously, the platform has provided tokenization services to institutions such as Apollo and Janus Henderson, with the assets increasingly being integrated into DeFi protocols like Aave and Morpho. Centrifuge is also Coinbase's preferred tokenization partner and has received a strategic investment from the latter.

According to rwa.xyz data, the current market size of tokenized real-world assets (excluding stablecoins) has exceeded $30 billion. Citigroup predicts that by 2030, the tokenized asset market could reach $55 trillion, while Standard Chartered Bank estimates that the market size will expand to $20 trillion by 2028. Institutional focus is shifting from early tokenized Treasury bond funds to a wider range of asset classes such as private credit, stocks, and corporate bonds.