OpenEden taps BNY to manage tokenized US Treasury assets

BNY 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.

Update Aug. 13, 7:00 am UTC: This article has been updated to change BNY Mellon to BNY and add comments from OpenEden founder and CEO Jeremy Ng.

Real-world asset (RWA) tokenization platform OpenEden partnered with The Bank of New York Mellon Corporation (BNY) 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.

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