What ho, old bean! The chaps over at OpenEden, that spiffing real-world asset (RWA) tokenization platform, have just pulled off a rather splendid investment round, backed by a veritable who’s who of trading firms, venture capital funds, blockchain networks, and institutional infrastructure providers. All this tootle-pip to scale their tokenized US Treasurys, no less! 🧑💼💼
This jolly good show follows their 2024 raise with the eggheads at YZi Labs, and comes at a time when tokenized versions of short-dated government debt have become the bee’s knees in the crypto world, growing faster than a schoolboy’s appetite at tea time. So they say in their Tuesday news release, anyhow. 📈📰
“As tokenization scales in adoption, institutions and protocols are seeking trusted, compliant infrastructure to bring traditional assets on-chain,” piped up Jeremy Ng, the toppermost founder and CEO of OpenEden. Quite the mouthful, what? But he’s spot on, old sport. 🗣️✨
Among the investors chucking their hats into the ring are Ripple, Lightspeed Faction, Gate Ventures, FalconX, Anchorage Digital Ventures, Flowdesk, P2 Ventures, Selini Capital, Kaia Foundation, and Sigma Capital. The amount raised? Not a peep, I’m afraid. Hush-hush, you know. 🤐💰
OpenEden to Expand Tokenized T-Bills and Yield Stablecoin, What?
The chaps at OpenEden plan to use this windfall to expand their tokenization-as-a-service platform and roll out new products tied to traditional markets. But their hearts remain set on two corkers: their tokenized US Treasury fund TBILL and USDO, a yield-bearing stablecoin backed by those very Treasurys. Top-hole stuff! 📊💹
“This funding round boosts our capacity to provide regulated, market-ready products that fit both traditional and decentralized finance standards,” Ng added, with a wink and a nod. Quite the diplomat, our Jeremy. 🧐📜
USDO and its wrapped version, cUSDO, are now knocking about on decentralized exchanges and lending markets. Earlier this year, cUSDO got the nod as off-exchange collateral at Binance, letting clients post the asset while trading. Rather decent of them, what? 🏦🔗
And there’s more! OpenEden is also prepping tokenized bond exposure, a multi-strategy yield token, and a slate of structured products. Blimey, they’re not mucking about! 📉📈
In August, they roped in the Bank of New York Mellon Corporation (BNY) as custodian and investment manager for the Treasurys underlying TBILL. And get this-they’ve bagged investment-grade ratings for the product from S&P Global and Moody’s. Not too shabby, eh? 🏆🏦
Tokenized Money Funds: Crypto’s New Yield Engine, By Jove!
In a recent report, the Bank for International Settlements (BIS) chimed in, saying tokenized money market funds are becoming the cat’s whiskers among yield products on public blockchains. They offer returns to rival traditional money funds, plus safeguards that your average stablecoin wouldn’t know about. 🏛️💸
The BIS reckons assets in these tokenized money market funds have shot up to nearly $9 billion, from a mere $770 million at the end of 2023. Not bad for a bit of financial wizardry, eh? 🚀📊
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2025-12-02 12:45