OpenEden partners with BNY Mellon! Jointly managing tokenized US Treasury assets TBILL

Real World Asset (RWA) tokenization is rapidly entering the mainstream financial landscape. The RWA platform OpenEden announced a partnership with one of the world's most historic and largest custodians—BNY Mellon—to provide asset management and custody services for its flagship tokenized U.S. Treasury product TBILL. This is not only an important milestone in the tokenized treasury market but also marks the deep integration of traditional finance and blockchain technology.

TBILL: The first tokenized U.S. Treasury bond fund rated 'A' by Moody's

OpenEden stated that TBILL is the first tokenized U.S. Treasury bond fund to receive a Moody's "A" rating and is managed by global custodians.

Credit Rating: An "A" grade indicates that the asset quality is above average, with low credit risk and strong debt repayment ability, meeting the safety asset standards of TradFi.

Product Design: Investors can directly hold the rights to the short-term U.S. Treasury bills and overnight reverse repurchase agreements by minting TBILL tokens on the Blockchain.

Jeremy Ng, CEO of OpenEden, stated that combining the deep trust experience of BNY Mellon will establish a new trust standard in the digital asset space.

Demand Surge: On-chain Cash Management Solutions in High Demand

Since its launch in 2023, the demand for TBILL has continued to rise, reflecting the growing interest in regulated on-chain cash management tools in the market.

Deputy Manager: Dreyfus of the Investment Management Department of Bank of New York Mellon will serve as the Deputy Manager of the TBILL fund.

Primary custodian: BNY Mellon will use its infrastructure to custody the underlying assets, ensuring safety and compliance.

Jose Minaya, the Global Head of Investments and Wealth at BNY Mellon, stated that the bank is committed to being a bridge between traditional finance and emerging technologies in digital assets, covering the entire lifecycle of tokenized assets.

The digital asset landscape of Bank of New York Mellon continues to expand

Since the launch of its digital custody platform in 2022, Bank of New York Mellon has been actively布局 in the cryptocurrency and tokenization space.

Digital Custody: Can hold institutional clients' Bitcoin and Ethereum, and provide private key management and fund access services.

Data Insights: Launching a digital asset data product in April 2024, providing on-chain and off-chain data analysis.

Capital Market Innovation: In July 2024, in collaboration with Goldman Sachs, plans to offer tokenized money market funds to institutional investors, achieving 24/7 market access and instant settlement.

RWA tokenization: The Intersection of TradFi and Blockchain

RWA tokenization is becoming an important growth engine for on-chain finance, especially in the field of low-risk assets such as U.S. Treasuries.

Transparency: Blockchain technology ensures the verifiability of asset ownership and transactions.

Liquidity: Tokenized assets can be transferred quickly on-chain, enhancing market efficiency.

Compliance: Collaborate with global custodians to ensure regulatory requirements are met and lower the entry barriers for institutional investors.

The collaboration between OpenEden and Bank of New York Mellon signifies that the tokenization of U.S. Treasury bonds is moving towards higher standards of security and trust, and may attract more institutional funds into the blockchain capital markets.

Conclusion

The collaboration between OpenEden and Bank of New York Mellon is not only a significant breakthrough in the tokenization of the U.S. Treasury market but also a model of the integration of traditional finance and Web3 technology. As the scale of RWA assets on the blockchain continues to expand, such high credit quality, compliant, and transparent products may become an important gateway for institutional investors to allocate digital assets.