NYLIM ($807B AUM) just tokenized its U.S. High Yield Corporate Bond Strategy with our partner
@centrifuge
First tokenized product from New York Life Investment Management. Subscriptions/redemptions settle in USDC, underlying strategy and risk management unchanged
Most RWA tokenization to date has stayed in Treasuries. This moves institutional credit onchain - a segment 10x the size of the T-bill market currently tokenized
Another proof point that traditional asset managers are choosing onchain rails, not building around them