NYLIM Launches First Tokenized Fund on Avalanche

New York Life Investments Management (NYLIM) has launched its first tokenized fund on Avalanche. The fund, tickered HYB, tokenizes a U.S. high-yield corporate bond strategy. Centrifuge announced the launch of HYB in partnership with NYLIM on June 30, stating it would be available for subscription and redemption in USDC. NYLIM manages approximately $80.7 billion in assets under management. The fund is deployed across Ethereum, Avalanche, and Pharos as noted in Centrifuge's developer documentation. NYLIM continues to manage the underlying portfolio, investment process, and risk management as it has traditionally done.