#usdc settlement

[rwatimes]

New York Life's $807B First Tokenized Fund Moves Bond Exposure Beyond Treasuries

New York Life's $807B First Tokenized Fund Moves Bond Exposure Beyond Treasuries

➤ New York Life has launched its first tokenized fund, focusing on high-yield corporate bonds rather than traditional Treasuries, signaling a potential expansion beyond safe, cash-like on-chain assets. ➤ The fund's significance lies in its use of USDC for settlement of subscriptions and redemptions, targeting on-chain investors and testing the viability of tokenization for credit-risk assets. ➤ While this launch is a key step, broad adoption into riskier assets hinges on institutional flows and the development of a robust, distributed RWA market, moving beyond internal operational improvements.

[rwatimes]

Centrifuge brings New York Life’s $807B manager onchain

NYLIM and Centrifuge launch HYB, a tokenized U.S. high-yield bond fund settling in USDC for eligible investors onchain.

➤ New York Life Investment Management (NYLIM) has partnered with Centrifuge to launch its first tokenized fund, a U.S. high-yield corporate bond strategy named HYB. ➤ The HYB fund will provide eligible investors with onchain access to NYLIM's fixed-income investment process, settling subscriptions and redemptions in USDC. ➤ This move signifies the expansion of tokenization beyond U.S. Treasuries into corporate credit products, driven by growing investor demand for efficiency and transparency.

[rwatimes]

WisdomTree Fund Gets SEC Approval To Trade Tokenized Fund 24/7

The 24/7 liquidity model will initially be available to institutional users through WisdomTree's Connect platform, with USDC serving as the settlement asset.

➤ WisdomTree received SEC approval to enable 24/7 trading and instant settlement for its tokenized Treasury money market fund (WTGXX) using a dealer-principal model. ➤ The settlement asset for these institutional trades will be USDC, and the fund, backed by short-term U.S. Treasuries, also features continuous dividend accrual. ➤ This regulatory relief is seen as a major step, preserving money market fund protections while introducing intra-day liquidity, contrasting with traditional T+1/T+2 settlement.

[rwatimes]

Solana Fundamentals Strengthen Sharply Even as SOL Trades Far Below Peak

Solana hit 10.1B Q1 transactions, $14.6B stablecoins, and two U.S. banks for USDC settlement as SOL traded near $87.

➤ Solana's network activity has significantly strengthened, evidenced by a record 10.1 billion Q1 transactions and a 167% year-over-year increase in stablecoin supply to $14.6 billion. ➤ Key developments include the integration of two U.S. banks for USDC settlement and a shift in SOL's regulatory status to commodity classification, enhancing its link to traditional finance. ➤ Despite trading significantly below its peak, Solana's fundamentals are improving with high staking levels, upcoming network upgrades (Firedancer, Alpenglow), and reduced FTX selling pressure, suggesting a stronger underlying network.