BNY Mellon Partners with OpenEden to Manage Tokenized T-Bill Fund

BNY Mellon, one of Wall Street's oldest custodians, has announced its collaboration with OpenEden to manage a tokenized U.S. Treasury Bill fund. The partnership leverages BNY Mellon's asset servicing expertise and OpenEden's tokenization platform, marking a significant step in the evolution of real-world asset (RWA) tokenization.

OpenEden's $TBILL fund offers exposure to short-dated U.S. Treasury Bills and overnight reverse repos through its TBILL token. Notably, the fund has received an investment-grade 'A' rating from Moody's, signaling strong creditworthiness and minimal risk. Dreyfus, a subsidiary of BNY Mellon, will serve as the sub-manager, while BNY Mellon acts as the primary custodian.

Jeremy Ng, CEO of OpenEden, emphasized that this collaboration sets a new standard for trust and accessibility in digital assets. The initiative aims to bring regulated, institutional-grade assets on-chain for global investors, further bridging traditional finance with blockchain technology.