BNY will serve as the custodian for OpenEden's fund structured around tokenized US Treasury Bills
In a groundbreaking move, OpenEden, a platform for tokenizing real-world assets, and The Bank of New York Mellon Corporation (BNY Mellon) have joined forces to launch the world's first Moody's "A"-rated tokenized US Treasury fund. This partnership aims to combine OpenEden's innovative digital asset platform with BNY Mellon's extensive fiduciary expertise and vast asset-servicing infrastructure.
BNY Mellon will serve as the primary custodian and sub-manager for OpenEden's flagship Tokenized US Treasury Bills ($TBILL) Fund. The collaboration will facilitate regulated, institutional-grade tokenized assets on blockchain for global investors, providing more secure and transparent access to digital financial products.
The $TBILL Fund offers investors direct exposure to a pool of short-dated US Treasury Bills and overnight reverse repurchase agreements. BNY Mellon's role in the fund extends its time-tested liquidity investment management capabilities and asset safekeeping services.
Jeremy Ng, Founder and CEO of OpenEden, stated that the collaboration with BNY Mellon marks a critical milestone in their mission to deliver secure, transparent, and institution-ready tokenized financial products. Jose Minaya, Global Head of BNY Investments and Wealth, added that BNY plays a critical role in the digital assets ecosystem as a trusted bridge between traditional finance and emerging technology for clients.
The Tokenized US Treasury Bills Fund has seen rapid and accelerating adoption, indicating surging demand from investors for regulated, institutional-grade on-chain cash management solutions. The fund's Moody's "A" investment grade rating signifies strong credit quality and a safe investment profile recognized by traditional finance standards.
The partnership also sets a new standard of trust and scale by pairing BNY Mellon’s global custody and asset management capabilities with OpenEden’s innovative digital asset platform. This collaboration is set to bridge traditional finance with emerging blockchain technology, shaping a future financial infrastructure that integrates the best of both worlds for global investors.
In conclusion, the strategic partnership between OpenEden and BNY Mellon leverages BNY Mellon’s trusted global custody and investment management infrastructure alongside OpenEden’s blockchain tokenization technology to enhance the availability, security, and institutional credibility of digital assets. This collaboration is poised to reshape the financial landscape, offering regulated, institutional-grade tokenized assets on blockchain to global investors.
[1] OpenEden Press Release, "OpenEden Announces Strategic Partnership with BNY Mellon to Tokenize US Treasury Bills," [date], [URL] [2] BNY Mellon Press Release, "BNY Mellon to Serve as Investment Manager and Primary Custodian for OpenEden's Tokenized US Treasury Bills Fund," [date], [URL] [3] Moody's Investors Service, "Moody's assigns A1 rating to OpenEden's Tokenized US Treasury Bills Fund," [date], [URL] [4] OpenEden Press Release, "OpenEden's Tokenized US Treasury Bills Fund Receives Moody's A1 Rating," [date], [URL]
- This collaboration between OpenEden and BNY Mellon combines technology with finance, using blockchain to tokenize US Treasury Bills and provide regulated, secure, and transparent access to digital financial products.
- BNY Mellon's role as the primary custodian and sub-manager for OpenEden's Tokenized US Treasury Bills Fund demonstrates their commitment to the digital assets ecosystem, acting as a trusted bridge between traditional finance and emerging technology for investors.
- With the Moody's "A" investment grade rating, OpenEden's Tokenized US Treasury Bills Fund offers investors a safe investment profile, showcasing the credibility of institutional-grade tokenized assets on blockchain.
