OpenEden has partnered with BNY Mellon to manage and custody assets for its tokenized US Treasury fund known as TBILL, which is the first of its kind with a Moody’s “A” rating managed by a global custodian. The partnership aims to create a new standard of trust in the digital asset realm, with OpenEden’s CEO highlighting the combination of their platform with BNY Mellon’s deep fiduciary expertise. The TBILL token provides investors blockchain-based access to a pool of short-dated US Treasury Bills, reflecting the increasing demand for regulated on-chain cash-management solutions. BNY Mellon, which has been active in the digital asset space since 2022, intends to use its infrastructure to manage the fund. The alignment of traditional finance with blockchain is seen as a pivotal development, alongside BNY Mellon’s other initiatives such as a digital assets data insights product and collaboration with Goldman Sachs on tokenized money market funds.

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