BNY to Become Custodian of OpenEden’s Tokenized US T-Bills Fund

Key Points

1. BNY Mellon, the oldest U.S. bank, will manage OpenEden's tokenized Treasury Bills ($TBILL) fund, which provides exposure to short-term Treasury Bills and reverse repurchase agreements.

2. OpenEden's $TBILL fund, launched in 2023, has seen rapid adoption, reflecting growing investor interest in tokenized real-world assets (RWA).

3. BNY Mellon's investment arm, BNY Investments Dreyfus, will oversee the fund and act as the primary custodian for the underlying assets, leveraging its $55 trillion infrastructure.

4. The partnership combines OpenEden's tokenization platform with BNY Mellon's global scale and expertise in digital asset solutions.

5. BNY Mellon has been expanding its involvement in crypto, including Chainalysis integration for ETF tracking and serving as a reserve manager for Ripple's stablecoin, RLUSD.