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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.