08.14.2025

BNY to Custody OpenEden’s Tokenized US Treasury Bills Fund

08.14.2025
BNY to Custody OpenEden’s Tokenized US Treasury Bills Fund

OpenEden, a leading platform for the tokenization of Real-World Assets (RWAs), announced the appointment of certain affiliates of The Bank of New York Mellon Corporation, a global financial services company, as investment manager and primary custodian for the underlying assets of its flagship Tokenized US Treasury Bills ($TBILL) Fund, the world’s first tokenized US Treasury fund to receive an investment grade “A” rating from Moody’s.

The strategic relationship highlights OpenEden and BNY’s shared commitment to shaping the future of financial infrastructure by facilitating regulated and institutional-grade assets on chain for global investors.

Launched in 2023, OpenEden’s $TBILL provides investors with direct exposure to a pool of short-dated US Treasury Bills (“US T-Bills”) and overnight reverse repurchase agreements through the minting of the TBILL token. $TBILL has seen rapid and accelerating adoption, indicating the surging demand from investors for regulated, institutional-grade on-chain cash management solutions.

BNY Investments Dreyfus is one of the largest liquidity managers in the industry with more than five decades of proven expertise and will manage $TBILL Fund on OpenEden’s behalf as sub-manager. As part of its mission to build the financial infrastructure for the future, BNY will also serve as the primary custodian for the underlying assets, leveraging its established infrastructure that administers US$55.8 trillion of assets and its proven track record providing asset servicing solutions that enable the digital assets ecosystem.

“OpenEden’s collaboration with BNY marks a critical milestone in our mission to deliver secure, transparent, and institution-ready tokenized financial products,” said Jeremy Ng, Founder and CEO of OpenEden. “Combining our tokenization platform with BNY’s global scale and deep fiduciary expertise enables us to create a new standard for trust and access in the digital asset space.”

“BNY plays a critical role in the digital assets ecosystem, serving as a trusted bridge between traditional finance and emerging technology for clients,” said Jose Minaya, Global Head of BNY Investments and Wealth. “We are excited to extend our time-tested liquidity investment management capabilities and asset safekeeping services to enable $TBILL and are proud to collaborate with OpenEden as we jointly aim to support the end-to-end lifecycle of tokenized assets.”

Source: OpenEden

HSBC AI Markets harnesses natural language processing to meet market participants’ trading and hedging needs, from pre-trade analysis, to execution, to post-trade. Markets Media caught up with Tom Croft to learn more about the platform.

#AIMarkets

“Portfolio trading is a massive improvement in efficiency.”

What impact do you think portfolio trading will have on the future of bond market structure?

#PortfolioTrading #Trading

Asset owners are investing heavily in data, from AI to ESG to real-time tools.
What’s the top priority for the data suite? 👇

#AssetOwners #FinTech #AI #ESG #Data

At #TradeTechFX Barcelona this week, LMAX Group Managing Director of Digital Assets, Jenna Wright, joins @TheBondDESK @marketsmedia to discuss how FX desks are adapting to the rise of digital assets.

She’ll explore market convergence, regulation and the investor opportunities…

Load More

Related articles

  1. There was a 34% improvement in predicting how likely a trade would be filled at a quoted price.

  2. Platform is a one-stop shop for buy side and corporates to tap into data, analytics and trade execution.  

  3. Firms are looking to provide access to crypto and innovate with this technology at scale.

  4. Lead investors include WisdomTree, Bank of America, and Citi.

  5. Citi Stylus Workspaces is now integrated directly with the bank's systems.

We're Enhancing Your Experience with Smart Technology

We've updated our Terms & Conditions and Privacy Policy to introduce AI tools that will personalize your content, improve our market analysis, and deliver more relevant insights.These changes take effect on Aug 25, 2025.
Your data remains protected—we're simply using smart technology to serve you better. [Review Full Terms] | [Review Privacy Policy] By continuing to use our services after Aug 25, 2025, you agree to these updates.

Close the CTA