Centrifuge has expanded HYB, the tokenized fund providing access to New York Life Investment Management’s U.S. high-yield corporate bond strategy, to Avalanche. The deployment gives eligible investors another blockchain venue for accessing an institutional credit strategy that was already available through Centrifuge’s fund infrastructure. The move extends HYB beyond its existing deployments while adding high-yield corporate debt to Avalanche’s growing range of tokenized financial assets.
The official announcement positions the Avalanche launch as part of Centrifuge’s broader effort to distribute institutional assets across multiple networks. HYB uses USDC in its subscription and redemption infrastructure, connecting an onchain fund token with the settlement processes surrounding the underlying investment product. The blockchain deployment changes the distribution and settlement rails, not the underlying portfolio strategy or its credit risk.
$HYB is now available on @avax.
Managed by @NYLIManagement, $HYB brings tokenized access to a diversified U.S. high-yield corporate bond strategy.
For Avalanche, that broadens the range of institutional assets available onchain beyond the Treasury and short-duration strategies… pic.twitter.com/7I4HFWLt7K
— Centrifuge (@centrifuge) September 17, 2026
HYB Adds High-Yield Credit to Avalanche
Centrifuge’s protocol deployment documentation confirms that HYB is deployed on Avalanche and identifies a dedicated USDC vault for the network. The HYB token uses the same listed contract address on Ethereum and Avalanche, while the Avalanche USDC vault has its own address. Those deployment records confirm that the Avalanche integration is operational infrastructure rather than simply an announced future expansion.
The product broadens the type of fixed-income exposure represented on Avalanche. Tokenized Treasury products have dominated much of the institutional RWA market because their underlying assets are short-duration government securities, while HYB introduces exposure to below-investment-grade U.S. corporate credit. That distinction brings a different combination of credit, liquidity and settlement considerations onchain, rather than simply reproducing another Treasury-backed product.
NYLIM oversees more than $800 billion in assets, while HYB provides tokenized access to its established U.S. high-yield strategy through Centrifuge infrastructure. Centrifuge has also been extending distribution for other institutional products, including a recent API integration connecting JTRSY and JAAA with fintech and wealth-platform infrastructure. The common thread is distribution: tokenized funds are increasingly being positioned as components that can operate across chains, interfaces and financial applications.
Distribution, Not Deployment, Is the Next Test
Avalanche already supports a substantial base of stablecoins, DeFi applications and tokenized assets, which gives Centrifuge an existing settlement and liquidity environment in which to place HYB. However, network deployment should not be treated as evidence of investor adoption or new capital inflows. A live contract and USDC vault establish technical availability, but they do not reveal how much HYB capital will migrate to Avalanche or how frequently investors will use the new venue.
Access also remains controlled by the fund’s eligibility and compliance framework. HYB is not equivalent to an unrestricted crypto token simply because its representation exists on a public blockchain, and subscriptions and redemptions remain tied to the product’s regulated investment structure. The next meaningful milestone will be measurable Avalanche usage, including fund balances, subscription and redemption activity, and whether the deployment develops sustained institutional participation rather than remaining primarily an additional distribution endpoint.
