New York Life, an asset manager overseeing $807 billion, is moving a high-yield corporate bond strategy onto the blockchain through a partnership with tokenization platform Centrifuge. The launch marks the firm's first venture into tokenized funds and signals that Wall Street's onchain ambitions are broadening beyond the tokenized U.S. Treasury products that have dominated the space so far. By placing a higher-yield, riskier credit strategy onchain, the move suggests growing institutional confidence in using blockchain rails for a wider range of fixed-income assets. Tokenization can offer benefits such as faster settlement, improved transparency, and broader access to traditionally illiquid products. The collaboration reflects an accelerating trend of large traditional finance institutions experimenting with distributed-ledger technology to modernize asset management and tap into emerging digital infrastructure for real-world assets.
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