OpenEden appoints Bank of New York
14 August 2025 Singapore
Image: eyetronic/stock.adobe.com
OpenEden, a platform used for the tokenisation of real-world assets (RWA), has appointed certain affiliates of the Bank of New York Mellon Corporation (BNY) to provide investment management and custody services for its tokenised US Treasury Bills ($TBILL) fund.
The firms say this joining 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.
$TBILL provides investors with direct exposure to a number of short-dated US Treasury Bills and overnight repurchase agreements through the minting of the TBIL token.
It has seen fast adoption, indicating the growing demand from investors for regulated, institutional-grade-on-chain cash management solutions.
BNY will manage $TBILL on OpenEden’s behalf as a sub-manager while serving 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.
Jeremy Ng, founder and CEO of OpenEden states “OpenEden’s collaboration with BNY marks a critical milestone in our mission to deliver secure, transparent, and institution-ready tokenised financial products. Combining our tokenisation 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.”
Global head of BNY Investments and Wealth adds “BNY plays a critical role in the digital assets ecosystem, serving as a trusted bridge between traditional finance and emerging technology for clients.
“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 tokenised assets.”
The firms say this joining 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.
$TBILL provides investors with direct exposure to a number of short-dated US Treasury Bills and overnight repurchase agreements through the minting of the TBIL token.
It has seen fast adoption, indicating the growing demand from investors for regulated, institutional-grade-on-chain cash management solutions.
BNY will manage $TBILL on OpenEden’s behalf as a sub-manager while serving 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.
Jeremy Ng, founder and CEO of OpenEden states “OpenEden’s collaboration with BNY marks a critical milestone in our mission to deliver secure, transparent, and institution-ready tokenised financial products. Combining our tokenisation 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.”
Global head of BNY Investments and Wealth adds “BNY plays a critical role in the digital assets ecosystem, serving as a trusted bridge between traditional finance and emerging technology for clients.
“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 tokenised assets.”
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