Pharos Network, the value discovery layer for agentic economies, today announced the launch of the pRNH Vault on Pharos through R25, expanding the network’s RealFi market with onchain access to institutional U.S. high-yield corporate credit.
The pRNH Vault provides eligible users with access to the NYLIM Anemoy U.S. High Yield Corporate Bond Segregated Portfolio (HYB), an onchain portfolio launched by New York Life Investment Management (NYLIM) and Anemoy, powered by Centrifuge.
The launch represents another step in the expansion of institutional assets on Pharos beyond stablecoins and tokenized cash-equivalent products, bringing corporate credit into an environment where real-world assets can become programmable, composable, and accessible through onchain financial applications.
Bringing Institutional Credit Onchain
The underlying HYB portfolio provides exposure to a diversified portfolio of U.S. high-yield corporate bonds through shares of the NYLI GF U.S. High Yield Corporate Bond Sub-Fund.
According to the product materials, the underlying strategy is managed by New York Life Investment Management and targets diversified USD-denominated high-yield credit. The portfolio is tokenized through Anemoy and Centrifuge, creating an onchain representation of the underlying fund while retaining the asset-management and fund infrastructure behind it.
Through R25, eligible users can deposit USDC into pRNH on Pharos, which provides exposure to HYB. The vault has a target size of $100 million and an indicated target annualized yield of approximately 7%, subject to market conditions and the performance of the underlying assets.
The product is designed without a fixed lock-up period, with subscription and redemption requests able to be initiated on an ongoing basis. Actual processing and settlement remain subject to the underlying fund’s operating timelines, eligibility requirements and applicable regional restrictions.
RealFi Moving Beyond Tokenization
The launch reflects a broader transition taking place across onchain finance.
The first phase of institutional RWA adoption largely focused on bringing assets such as U.S. Treasuries, money-market products and stablecoins onchain. As the market develops, a wider range of real-world financial assets can begin moving into programmable environments where they can interact with liquidity, applications and other financial infrastructure.
Corporate credit represents an important part of that progression.
Rather than treating tokenization as the end product, Pharos is building around what happens after real-world assets come onchain: how value is discovered, how opportunities are evaluated, how access conditions are verified, and how financial activity can be executed and settled programmatically.
“Tokenization was only the first step in bringing real-world finance onchain. The bigger opportunity is creating markets where institutional-grade assets can be discovered, assessed and used programmatically,” said Wish Wu at Pharos Network. “The launch of pRNH on Pharos is an example of that shift: real-world credit becoming part of an open financial environment built for both people and intelligent agents.”
From Real-World Assets to Agent-Mediated Markets
The pRNH structure also demonstrates how real-world financial assets can increasingly interact with intelligent onchain systems.
According to R25’s product materials, the vault architecture incorporates agent-assisted functions across areas including underlying credit screening, liquidity monitoring, onchain operations and portfolio allocation.
This points toward a financial environment where intelligent agents can do more than transfer assets. They can help discover financial opportunities, evaluate conditions, monitor risk and coordinate transactions against real-world value.
Pharos is building infrastructure for this transition.
Designed to coordinate real-world financial activity onchain, Pharos combines deep-parallel execution through its SALI engine, modular Special Processing Networks (SPNs), protocol-level compliance infrastructure, ZK-KYC/AML mechanisms, AsyncBFT consensus, native AI agent support including x402, and EVM and WASM compatibility.
Together, this infrastructure is designed to support markets spanning real-world assets, stablecoins, cross-border settlement, onchain yield and agent-mediated commerce at internet scale.
Building the Value Discovery Layer for Agentic Economies
As more institutional assets move onchain, Pharos sees the next phase of blockchain infrastructure moving beyond simply storing and transferring tokenized assets.
Markets will increasingly need infrastructure capable of connecting real-world value with programmable identity, verified access, intelligent decision-making, controlled execution and real-time settlement.
Pharos is positioning itself as the value discovery layer for agentic economies — where real value, intelligent agents and institutional-grade assets are open to all.
The launch of pRNH adds institutional corporate credit to this growing financial environment and provides another real-world market through which that model can develop.
About Pharos Network
Pharos Network is the value discovery layer for agentic economies, where real value, intelligent agents and institutional-grade assets are open to all.
Built for high-performance RealFi and programmable financial markets, Pharos combines deep-parallel execution, modular SPNs, protocol-level compliance infrastructure and native support for intelligent agents to enable real-world financial activity to move onchain.
Pharos was founded by former Ant Group leadership and engineers and is backed by global investors across traditional finance and crypto, including Sumitomo Corporation, Flow Traders, SNZ, Hack VC and Faction VC.
Disclaimer:
This content is for informational purposes only. Information verification has been done to the best of our ability. Still, due to the nature of the blockchain (cryptocurrency, NFT, mining, etc.) sector as a whole, you are advised to conduct your own additional research and exercise caution. Investments in these fields are inherently risky and should be approached with due diligence.