New York Life and Centrifuge Launch First On-Chain High-Yield Corporate Bond Fund

CoinFeed June 30 news, according to The Block, New York Life Investment Management (NYLIM) has partnered with Centrifuge to launch the tokenized fund NYLIM Anemoy U.S. High Yield Corporate Bond Segregated Portfolio (ticker: HYB), which is New York Life's first tokenized product and one of the few on-chain strategies focusing on high-yield corporate bonds. The fund is issued on the Centrifuge platform, with subscriptions and redemptions settled in Circle's stablecoin USDC, the underlying investments are managed by NYLIM, Centrifuge provides tokenization technology and BVI segregated portfolio structure, and investors as shareholders can directly claim the underlying assets.