NYLife Subsidiary to Tokenize Fund on Avalanche

NYLI Management, an asset management firm under New York Life—the largest mutual life insurance company in the U.S.—has announced that its U.S. corporate bond investment strategy fund HYB will be tokenized on Avalanche (AVAX) via Centrifuge (CFG), according to a recent announcement.

The product is tokenized through Centrifuge's institutional fund infrastructure for real-world asset (RWA) tokenization. Avalanche stated that the tokenized fund from NYLI has expanded the on-chain scope of assets available to institutional investors beyond the previously dominant U.S. Treasury and short-term bond strategies in the tokenization market.