NYLI Management tokenizes corporate bond fund on Avalanche

NYLI Management, an asset manager under New York Life, is tokenizing HYB, its U.S. corporate bond investment strategy fund, on Avalanche, according to a Centrifuge announcement. The product was tokenized through Centrifuge’s institutional fund infrastructure for real-world assets. Avalanche said NYLI’s tokenized fund expands the range of institutional assets moving on-chain beyond the U.S. Treasury and short-duration bond strategies that have led the tokenization market.