[Digital Today reporter Chi-gyu Hwang] New York Life Investment Management (NYLIM) is partnering with Centrifuge to enter the tokenisation market.

According to a recent report by The Block, the two companies announced the launch of “NYLIM Anemoi U.S. High Yield Corporate Bond Segregated Portfolio (HYB),” NYLIM’s first tokenised product.

High-yield corporate bonds are bonds issued by companies rated below investment grade by credit rating agencies. Because the risk is higher, they can be expected to deliver higher returns than government bonds or high-grade corporate bonds.

HYB supports qualified investors in accessing NYLIM’s existing high-yield strategy through the Centrifuge platform. Subscriptions and redemptions are settled in Circle’s USDC stablecoin.

NYLIM controls the underlying HYB portfolio, the investment process and risk management. Centrifuge provides the tokenisation technology.

Bazzi Illuminati (바지 일루미나티), Centrifuge CEO, said, “NYLIM is one of the first large insurers to move into tokenisation.” He added, “We have been working with the NYLIM team over the past 6 months to find opportunities.”

Thomas Tsai (토머스 사이), head of multi-asset solutions at NYLIM, said, “Tokenisation is an interesting evolution in how investment solutions are accessed, managed and distributed.” He added, “We are looking for opportunities where blockchain infrastructure can complement existing platforms and enhance customer value.”