Summary
OpenEden operates a tokenization-as-a-service platform that brings traditional assets on-chain, led by TBILL (a tokenized U.S. Treasury fund) and USDO (a yield-bearing stablecoin backed by those Treasurys). Its strategic round — backed by Ripple, Lightspeed Faction, Gate Ventures, FalconX, Anchorage, Flowdesk, and others — shows blockchain networks and institutional infrastructure providers aligning with tokenized Treasury infrastructure. The addition of BNY Mellon as custodian and investment manager for the Treasurys underlying TBILL, plus investment-grade ratings from S&P and Moody's, anchors the products in institutional-grade custody and credit quality.
Key Points
- Tokenization-as-a-service platform for traditional assets on-chain
- TBILL: tokenized U.S. Treasury fund
- USDO: yield-bearing stablecoin backed by TBILL Treasurys
- BNY Mellon appointed custodian and investment manager (August) for TBILL's underlying Treasurys
- Investment-grade ratings from S&P Global and Moody's for TBILL
- Strategic investors: Ripple, Lightspeed Faction, Gate Ventures, FalconX, Anchorage Digital Ventures, Flowdesk, P2 Ventures, Selini Capital, Kaia DLT Foundation, Sigma Capital
- Building: tokenized bond exposure, multi-strategy yield token, structured offerings
- Tokenized US Treasurys were among the fastest-growing crypto segments in 2025
- CEO: Jeremy Ng; institutional demand for "compliant, trusted infrastructure" to move assets on-chain
- Ripple's participation signals interoperability interest between stablecoin/payments networks and RWA infrastructure