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New York Life makes tokenization debut with onchain high-yield bond fund with Centrifuge
Key takeaways
- The firm said Tuesday it is partnering with tokenization platform Centrifuge to launch a blockchain-based version of its U.S.
- "Tokenization represents a compelling evolution in how investment solutions can be accessed, managed and distributed," Thomas Sy, head of multi-asset solutions at NYLIM, said in a statement.
- The launch adds another blue-chip asset manager to Wall Street's tokenization push.
The firm said Tuesday it is partnering with tokenization platform Centrifuge to launch a blockchain-based version of its U.S. High Yield Corporate Bond Strategy. The fund, called the NYLIM Anemoy U.S. High Yield Corporate Bond Segregated Portfolio (HYB), is the firm's first tokenized investment product.
"Tokenization represents a compelling evolution in how investment solutions can be accessed, managed and distributed," Thomas Sy, head of multi-asset solutions at NYLIM, said in a statement.
Eligible investors will be able to subscribe to and redeem shares using Circle's USDC stablecoin, while New York Life continues to manage the underlying portfolio and investment strategy.
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