BNY Mellon to Custody Tokenized US Treasury Fund TBILL in OpenEden Deal

OpenEden has forged a strategic partnership with BNY Mellon to custody and manage its tokenized US Treasury fund, TBILL. The collaboration marks a significant step in bridging traditional finance with blockchain technology, offering investors regulated exposure to short-dated Treasury Bills via digital assets.

BNY Mellon's Dreyfus unit will serve as sub-manager for the fund, underscoring the institution's growing commitment to blockchain-based financial solutions. TBILL, launched in 2023, represents the first Moody's 'A'-rated tokenized Treasury product under institutional custody.

The MOVE reflects accelerating demand for blockchain-enabled access to traditional assets. As custodial giants like BNY Mellon deepen their involvement, tokenization appears poised to reshape fixed-income markets.