Centrifuge (CFG) announced that HYB, a US corporate bond investment strategy fund managed by NYLI Management, an asset management firm under New York Life, the largest mutual life insurance company in the United States, will be tokenized on Avalanche (AVAX). The product was tokenized through Centrifuge's institutional fund infrastructure, a Real World Asset (RWA) tokenization platform. In this regard, Avalanche stated, "NYLI's tokenized fund expands the on-chain scope of assets for institutional investors, moving beyond the US Treasury and short-term bond strategies that have dominated the tokenization market."
