Centrifuge has deployed the HYB high-yield corporate bond strategy fund on Avalanche in partnership with New York Life Investment Management (NYLIM). The tokenized fund offers qualified investors exposure to a portfolio of U.S. high-yield corporate bonds and is managed by NYLIM, which oversees approximately $807 billion in assets under management. The launch expands institutional-grade asset classes on Avalanche beyond U.S. Treasuries and short-duration products. The network currently supports $1.4 billion in stablecoins and over $500 million in DeFi total value locked, providing on-chain liquidity for institutional strategies. Industry participants note that high-yield corporate credit carries distinct default and liquidity risks compared to shorter-duration government debt.