New York Life Investment Management (NYLIM) has partnered with Centrifuge to launch a tokenized high-yield bond fund. The fund accepts USDC for subscriptions and redemptions and is scheduled to integrate RedStone Settle on September 1, making on-chain exits possible in roughly 300 milliseconds. NYLIM manages more than $800 billion in assets. The decision to shift the fund onto blockchain rails is meant to improve settlement efficiency. RedStone's 300-millisecond exit capability is designed to relieve institutional worries over liquidity in tokenized funds, bringing the fund's liquidity profile closer to exchange-traded instruments. The report originated from CryptoBriefing and was relayed by Techub News. The launch pairs a traditional asset manager with crypto-based settlement infrastructure. USDC gives investors a stablecoin-based route in and out of a high-yield credit strategy. RedStone Settle acts as the fast-exit layer, while the underlying product remains a high-yield bond fund. Together, these elements turn a conventional fixed-income vehicle into an on-chain product with near-real-time redemption mechanics.
New York Life Investment Management (NYLIM) and Centrifuge have introduced a tokenized high-yield bond fund that accepts USDC for subscriptions and redemptions. The fund is due to integrate RedStone Settle on Sept. 1, enabling on-chain exits in roughly 300 milliseconds.
NYLIM has more than $800 billion in assets under management. Putting the fund on-chain is intended to improve settlement efficiency. RedStone's 300-millisecond exit capability addresses institutional concerns about liquidity in tokenized funds, making the product's liquidity profile closer to that of exchange-traded instruments.
CryptoBriefing supplied the report; Techub News carried the update.
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