New York Life Investment Management, an $807 billion asset manager, has partnered with Centrifuge to launch its first tokenized product: a high-yield corporate bond fund settled in USDC.

The $807 billion asset manager is bringing a high-yield corporate bond strategy onto blockchain with Centrifuge as Wall Street expands beyond tokenized Treasury funds.

The tokenized fund will enable eligible investors to access NYLIM’s established institutional high-yield strategy.