Instant Exits for Tokenized HYB Fund via RedStone's Settle Service

RedStone has partnered with Centrifuge and NYLIM to introduce instant exits for holders of the tokenized NYLIM U.S. high-yield bond fund, known as HYB.

The service, called Settle, allows KYC-approved liquidity providers to bid on the discount required to purchase fund units immediately.

According to RedStone co-founder and COO Marcin Kazmierczak, the process is designed to provide a same-block exit for HYB holders, which has a standard redemption period of T+3.

The auction lasts approximately 300 milliseconds and combines atomic onchain transactions with bonded solver deposits to limit failed settlement and front-running.

RedStone will supply prefunded vaults to backstop liquidity when direct participation is insufficient.