OpenEden taps BNY Mellon to manage tokenized US Treasury assets

BNY Mellon will manage and custody the assets backing OpenEden’s Moody’s “A”-rated tokenized US Treasury fund, expanding the bank’s presence in blockchain-based finance.

Real-world asset (RWA) tokenization platform OpenEden partnered with The Bank of New York Mellon Corporation (BNY Mellon) to manage and custody the underlying assets of its flagship tokenized US Treasury product, TBILL. 

OpenEden announced the partnership Wednesday, bringing one of Wall Street’s largest and oldest custodians into the growing market for tokenized Treasurys.

OpenEden said TBILL is the first tokenized US Treasury fund with a Moody’s “A” rating to have its assets managed by a global custodian. 

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