Tokenized High-Yield Credit Moves Into Institutional Custody as Pharos Connects to Fireblocks

Funds and exchanges on Fireblocks can now hold tokenized U.S. high-yield credit products issued on Pharos without building new custody infrastructure.

Tokenized U.S. high-yield credit products are now accessible to institutions on Fireblocks, after real-world asset blockchain Pharos Network announced Tuesday that it has integrated the custody platform.

The products available at launch include the Raffaello NYLIM HYB Vault (pRNH), the NYLIM Anemoy fund and Axil Prime Credit (APC), a credit strategy issued on R25 Protocol. PROS, the native coin of Pharos, is also supported. Pharos said assets aggregated across its RWA platform now exceed $241.64 million.

For institutional allocators, the integration addresses one of the main operational hurdles in tokenized credit: holding the assets inside approved custody systems. Funds, asset managers, payment service providers and exchanges already using Fireblocks can hold, transfer and manage the supported assets within their existing workspaces, applying the same approval workflows and security policies they use for other digital assets.

Fireblocks provides multi-party computation (MPC) private key management and configurable transaction policies, including smart contract whitelisting and multi-party approvals, which govern supported Pharos transactions according to each institution’s own permissions.

For credit issuers, the deal opens a distribution channel to institutions that were previously unable to engage with assets on the network. Pharos said the integration connects onchain credit strategies such as APC directly to institutional digital asset infrastructure.

“Institutions do not adopt new networks by rebuilding their stack. They adopt them through the infrastructure they already run,” said Wish Wu, co-founder and CEO of Pharos.

The two companies also plan joint go-to-market work, including coordinated industry event appearances and selective introductions between Pharos issuers and institutional audiences.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.