Real-world asset (RWA) tokenization platform OpenEden has successfully closed an investment round, backed by major trading firms, venture capital funds, blockchain networks, and institutional infrastructure providers to broaden its capacity in tokenized US Treasurys.

This funding follows OpenEden’s prior round with YZi Labs, which coincides with the rapid growth of tokenized forms of short-term government debt—one of the most dynamic niches in cryptocurrency, as noted in a recent news release.

“As tokenization scales in adoption, institutions and protocols are seeking trusted, compliant infrastructure to bring traditional assets on-chain,” said Jeremy Ng, founder and CEO of OpenEden.

Investors in this recent financing round include well-known names such as Ripple, Lightspeed Faction, Gate Ventures, FalconX, Anchorage Digital Ventures, Flowdesk, P2 Ventures, Selini Capital, Kaia Foundation, and Sigma Capital. The specific amount raised has not been disclosed.

Total RWA market overview. Source: RWA.xyz

OpenEden to Expand Tokenized T-Bills and Yield Stablecoin

OpenEden plans to utilize this fresh capital to broaden its tokenization-as-a-service platform and introduce new products linked to traditional markets. The firm will maintain its focus on two core offerings: the tokenized US Treasury fund, TBILL, and USDO, a yield-bearing stablecoin supported by these Treasurys.

“This funding round strengthens our ability to provide regulated, market-ready products that align with both traditional and decentralized finance standards,” Ng stated.

USDO and its wrapped version, cUSDO, are now incorporated across decentralized exchanges and lending markets. Earlier this year, cUSDO was approved as off-exchange collateral at Binance, allowing clients to utilize the asset while trading on that platform.

OpenEden is also setting the stage for tokenized bond exposure, a multi-strategy yield token, and a variety of structured products.

In August, OpenEden selected the Bank of New York Mellon Corporation (BNY) as custodian and investment manager for the Treasurys underlying TBILL. The platform has secured investment-grade ratings for this product from S&P Global and Moody’s.

Tokenized Money Funds Become Crypto’s Yield Engine

Recently, the Bank for International Settlements observed that tokenized money market funds are emerging as crucial yield-producing assets on public blockchains, providing returns comparable to traditional money funds, yet lacking the typical stablecoin vulnerabilities. According to BIS, assets in these tokenized money market funds have surged to nearly $9 billion, rising from about $770 million at the end of 2023.