Centrifuge has tokenized HYB, a U.S. high-yield corporate bond strategy managed by NYLI Management, an asset manager under New York Life, on Avalanche. The fund was issued through Centrifuge’s institutional fund infrastructure for real-world assets and provides qualified investors with exposure to U.S. high-yield corporate credit. The launch broadens Avalanche’s institutional asset mix beyond U.S. Treasuries and short-duration bond strategies. NYLIM oversees approximately $807 billion in assets under management, while Avalanche supports $1.4 billion in stablecoins and more than $500 million in DeFi total value locked.