New York Life Investment Management is working with tokenization protocol Centrifuge to put one of its U.S. high-yield corporate bond strategies on-chain. The product will be built on Avalanche and will allow qualified institutional investors to subscribe and redeem using USDC. NYLIM manages more than $300 billion in assets, according to the report. The move points to tokenization expanding beyond cash-like government debt products and into actively managed credit strategies. It also adds another example of a traditional asset manager testing how public blockchains can be used to issue and service conventional investment products, according to NewsBTC as cited by Techub News.
New York Life Investment Management (NYLIM) is working with decentralized asset tokenization protocol Centrifuge to bring one of its U.S. high-yield corporate bond strategies on-chain, according to Techub News.
The product will be built on Avalanche and will let qualified institutional investors subscribe and redeem with USDC. NYLIM manages more than $300 billion in assets.
NewsBTC said the deal shows tokenization moving beyond cash-like government debt and into actively managed credit strategies. It also marks another case of a traditional asset manager exploring the use of a public blockchain to issue and service conventional investment products.
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