Avalanche and NYLIM partner to launch tokenized high-yield corporate bond fund

Centrifuge announced that New York Life Investment Management (NYLIM) has launched its high-yield corporate bond strategy fund, HYB, on Avalanche. The fund provides qualified investors with exposure to tokenized US high-yield corporate bonds. This move expands the range of institutional assets on Avalanche, which currently supports $1.4 billion in stablecoins and over $500 million in DeFi TVL. Analysts note that high-yield corporate credit carries inherent default and liquidity risks.