The open active (RWA) tokenization platform has teamed up with the Bank of New York Mellon Corporation (BNY Mellon) to manage and hold the underlying assets of its US, TBILL flagship.
OpenDeden announced the partnership on Wednesday, bringing one of the largest and oldest Wall Street guards to the growing token treasurers market.
OpenDeden said Tbill is the first US Treasury Fund tokenized with a “A” note from Moody to make its assets manage by a world goalkeeper.
A note “A” of Moody means that the asset is of quality superior quality, which indicates a low credit risk and a strong capacity to comply with financial obligations. It is considered safe by traditional financing standards.
OpenDeden’s founder and CEO Jeremy NG said that the combination of their platform with BNY’s “deep fiduciary expertise” allows them to create a new standard of trust in digital active space.
OpenDeden says that the request for US Treasury bills tokenized has increased
The company said that the product’s demand has increased, reflecting interest in regulated cash management solutions.
Openden’s Tbill product was launched in 2023 to give investors a blockchain -based access to a short -term American cash ticket basin and inverted night buyout agreements thanks to the TBILL token.
This means that the TBILL token represents a part of the underlying portfolio of American cash flow bills that mature in the short term and their associated return.
OpenDeden said that the BNY Mellon investment management arm, Dreyfus, would act as an underloitation of the Tbill Fund. Meanwhile, BNY will serve as a main guardian for underlying assets, using its infrastructure.
The World Investment and Richness Manager of BNY Mellon, Jose Minaya, said that the bank considered itself a bridge between traditional finance and emerging technology in the space of digital assets.
He said the partnership will allow BNY Mellon to extend his expertise in liquidity management, adding that the two companies aim to cover the full life cycle of token assets.
In relation: US Treasury Holdings of Tether reached $ 127 billion, exceeding South Korea
BNY Mellon deepens the tokenization imprint
BNY Mellon has been active in digital asset space since 2022, when he launched a digital guard platform for Safe Working Institutional Customers’ Bitcoin (BTC) and Ether (ETH) Holdings.
The service allows the Bank Store Private Keys and access to funds, and provides accounting services to finance managers from other assets.
On April 3, the bank launched a Digital Data Insights Assets product which provides data on blockchain networks in Chain and Outside Chain, by widening its footprint in cryptographic space.
More recently, the bank has teamed up with Goldman Sachs on a money market fund project.
On July 23, the two companies announced that they were preparing to offer institutional investors access to the money market funds, which could unlock access 24/7 and real -time regulations on the capital markets.
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