Centrifuge and NYLIM launch tokenized high-yield corporate bond fund HYB in Avalanche

Centrifuge announced that HYB, a high-yield corporate bond strategy fund under New York Life Investment Management, has been launched on Avalanche, providing qualified investors with tokenized exposure to US high-yield corporate bond portfolios. This product is managed by NYLIM and extends Avalanche's institutional asset classes beyond US bonds and short-term products through on chain tokens. Avalanche currently has approximately $1.4 billion in stablecoins and over $500 million in DeFi locks, providing on chain liquidity foundation for such institutional strategies. High yield companies face default and liquidity risks compared to short-term US Treasury bonds.