Singapore, August 13, 2025 -- OpenEden, a leading platform for the tokenization of Real-World Assets (“RWAs”), today announced the appointment of certain affiliates of The Bank of New York Mellon Corporation (“BNY”) (NYSE: BK), a global financial services company, as investment manager and primary custodian for the underlying assets of its flagship Tokenized U.S. Treasury Bills (“$TBILL”) Fund, the world’s first tokenized U.S. 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 U.S. Treasury Bills (“U.S. 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.”
Media Contacts:
BNY
Florence Chan
Florence.chan@bny.com
OpenEden
Joel Tan
Joel.tan@openeden.com
BNY
BNY is a global financial services company that helps make money work for the world – managing it, moving it and keeping it safe. For more than 240 years BNY has partnered alongside clients, putting its expertise and platforms to work to help them achieve their ambitions. Today BNY helps over 90% of Fortune 100 companies and nearly all the top 100 banks globally access the money they need. BNY supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, and so much more. As of June 30, 2025, BNY oversees $55.8 trillion in assets under custody and/or administration. BNY Investments is part of BNY and is one of the world’s largest asset managers with over $2.1 trillion in assets under management, offering investment solutions across every major asset class to the institutions and intermediaries it serves.
BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Headquartered in New York City, BNY has been named among Fortune’s World’s Most Admired Companies and Fast Company’s Best Workplaces for Innovators. Additional information is available on www.bny.com. Follow on LinkedIn or visit the BNY Newsroom for the latest company news.
OpenEden
OpenEden operates a leading real-world asset (RWA) tokenization platform, renowned for its unmatched focus on regulatory standards and advanced financial technology. Founded in 2022, OpenEden bridges traditional and decentralized finance by providing, through its regulated entities in the BVI and Bermuda, secure, transparent, and compliant on-chain access to tokenized RWA. OpenEden is redefining financial access through tokenization with a core focus on compliance and innovation. To learn more, visit www.openeden.com.