New York Life Brings $807B Asset Management Arm Onto Blockchain

New York Life Investment Management (NYLIM), the $807 billion asset management arm of New York Life, is bringing its U.S. High Yield Corporate Bond Strategy onto blockchain rails with Centrifuge.

This marks NYLIM's first tokenized investment product, and it joins other Wall Street firms in embracing tokenized funds. The strategy will be available to eligible investors via Circle's USDC stablecoin, while New York Life continues to manage the underlying portfolio.

Thomas Sy, head of multi-asset solutions at NYLIM, said 'tokenization represents a compelling evolution in how investment solutions can be accessed, managed and distributed.'