New York Life launches its first tokenized corporate bond product

U.S. asset manager New York Life Investment Management (NYLIM) announced today the launch of HYB, its first tokenized product based on corporate bonds. The product was developed in collaboration with Centrifuge (CFG), a decentralized lending protocol focused on real-world assets (RWA). New York Life has approximately $807 billion in assets under management (AUM). HYB is designed to provide access to New York Life's high-yield corporate bond strategy for institutional investors, with subscriptions and redemptions settled in the USDC stablecoin.