New York Life Enters Tokenization With Centrifuge Bond Fund

New York Life Investment Management (NYLIM), the $807 billion asset management arm of New York Life, is partnering with Centrifuge to launch its first tokenized investment product. The NYLIM Anemoy U.S. High Yield Corporate Bond Segregated Portfolio will place the firm’s US high-yield corporate bond strategy on blockchain infrastructure.

The launch broadens institutional tokenization beyond the US Treasury funds and private-credit products that shaped the market’s early growth. It also brings another major traditional asset manager into onchain finance, alongside firms including BlackRock, Franklin Templeton, Apollo and Janus Henderson.

Eligible investors will be able to subscribe for and redeem fund shares using Circle’s USDC stablecoin. New York Life will continue to manage the underlying portfolio and investment strategy, while Centrifuge provides the tokenization platform.

The partnership expands Centrifuge’s roster of asset managers, which already includes Apollo and Janus Henderson. Funds tokenized through its platform have also been integrated with decentralized finance protocols including Aave and Morpho, while Coinbase has named Centrifuge a preferred tokenization partner and invested in the company.

Tokenized real-world assets have grown into a market worth more than $30 billion excluding stablecoins, according to data cited by CoinDesk from RWA.xyz. The NYLIM launch reflects the sector’s expansion into a wider range of traditional assets, including corporate bonds, equities and private credit.