New York Life Investment Management (NYLIM), managing $807–838 billion, has launched tokenized high-yield corporate bonds on the Stellar blockchain. The project, developed with the tokenization platform Centrifuge, introduces two products: the Anemoy U.S. High Yield Corporate Bond Segregated Portfolio (HYB) and its DeFi-compatible version, deHYB.
The HYB fund, which debuted on June 30, 2026, is structured as a British Virgin Islands portfolio under Regulation S, targeting non-US professional investors. It requires KYC checks and whitelisting. In contrast, deHYB serves as a permissionless wrapper, allowing for free transfers and integration with decentralized finance protocols.
As of mid-October 2026, the onchain assets under management for HYB reached approximately $637,000, while deHYB held about $157,000. The fund received an A rating from Particula on August 20, 2026, based on its institutional backing and token mechanics.
The initiative is part of a broader cross-chain strategy. HYB expanded to Avalanche in September 2026 and to Solana on September 24, 2026. By adding Stellar to its list of supported networks, the companies aim to increase distribution for these high-yield assets.
