OpenEden taps BNY Mellon to manage tokenized US Treasury assets

Key Points

1. OpenEden's TBILL is the first Moody’s 'A'-rated tokenized US Treasury fund to have its assets managed by a global custodian, BNY Mellon.

2. BNY Mellon's investment management arm, Dreyfus, will act as sub-manager of the TBILL fund, while BNY Mellon serves as the primary custodian for the underlying assets.

3. The TBILL product, launched in 2023, provides blockchain-based access to short-dated US Treasury Bills and overnight reverse repurchase agreements.

4. BNY Mellon has been active in the digital asset space since 2022, expanding its services to include custody and management of tokenized assets.

5. The partnership aims to leverage BNY Mellon's infrastructure to enhance the accessibility and management of tokenized Treasury assets.