OpenEden Selects BNY to Provide Investment Management and Custody Services for its Tokenized U.S. Treasury Bills ($TBILL) Fund
By Lauren Hinton · 20 August 2025
OpenEden, a leading platform for the tokenization of Real-World Assets (“RWAs”), today announced the appointment of certain affiliates of The Bank of New York Mellon Corporation (“BNY”) (NYSE: BK), a global financial services company, as investment manager and primary custodian for the underlying assets of its flagship Tokenized U.S. Treasury Bills (“$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.”
About the companies
BNY
Website · 99 stories and 64 video interviews on FF News since 2016
Previously on FF News:
- Figment and BNY Collaborate to Launch Institutional Staking via Digital Asset Custody 13 November 2026
- Money20/20 Vegas 2026: BNY's Carl Slabicki on the Evolution of Instant Payments and Tokenisation 12 November 2026
- EXCLUSIVE: "Mainstream, but Not as We Know It" - Pavel Kashuba, Coinspaid in 'The Paytech Magazine' 28 October 2026
OpenEden
Website · 1 story on FF News since 2025
Companies in this story: BNY, OpenEden
People in this story: Jeremy Ng, Jose Minaya