OpenEden Appoints BNY as Investment Manager for Tokenized Fund

Singapore-based fintech firm OpenEden has tapped The Bank of New York Mellon (BNY) as investment manager and primary custodian for its Tokenized U.S. Treasury Bills Fund ($TBILL). The MOVE signals deepening institutional involvement in digital asset infrastructure.

The $278 million fund, launched in 2023, provides blockchain-based exposure to short-dated Treasuries and reverse repos. BNY Investments Dreyfus will sub-manage the portfolio, bringing five decades of liquidity management expertise to the tokenized asset space.

BNY's custodial oversight leverages its $55.8 trillion asset servicing infrastructure. "This collaboration marks a critical milestone in delivering institution-ready tokenized products," said OpenEden CEO Jeremy Ng. The partnership underscores traditional finance's accelerating convergence with blockchain technology.