OpenEden has partnered with BNY Mellon to manage and custody the assets of its tokenized US Treasury fund, TBILL, which has been rated 'A' by Moody's. This collaboration marks a significant move into the blockchain finance sector for BNY Mellon. TBILL is noted as the first tokenized US Treasury fund to have assets managed by a global custodian, denoting a new standard of trust in digital assets. The demand for tokenized US Treasury Bills has been on the rise, driven by interest in regulated, on-chain cash-management solutions. The TBILL product, launched in 2023, provides investors with blockchain-based access to short-dated US Treasury Bills through the TBILL token, which represents shares of the underlying Treasury portfolio. BNY Mellon's investment management arm will take on the role of sub-manager for the TBILL fund, while the primary custody will be handled by BNY itself, utilizing its established infrastructure. This partnership aims to bridge traditional finance with emerging technologies, emphasizing a full lifecycle management of tokenized assets.

Source 🔗