BNY Mellon, the oldest bank in the United States, has announced a partnership with the real-world asset tokenization platform OpenEden to manage a fund for tokenized U.S. Treasury Bills.
A Modern Initiative in Treasury Bills
BNY Mellon stated that OpenEden will appoint them as investment managers and primary curators of its Tokenized U.S. Treasury Bills ($TBILL) Fund. This fund is the first of its kind to receive an ‘A’ investment rating from Moody’s. The partnership highlights the commitment of both entities to innovating financial infrastructure.
BNY Mellon’s Innovations and Digital Asset Focus
BNY Mellon has been at the forefront of integrating digital assets, establishing a dedicated unit for this asset class in 2021. They began offering Bitcoin custody services that same year and later integrated Chainalysis to track cryptocurrency transactions.
Future Investments and Expectations
BNY Mellon will manage the fund using its existing infrastructure, responsible for over $55 trillion in assets. This agreement with OpenEden allows the bank to deepen its position in tokenization and digital assets, preparing for future changes in the financial sector.
The partnership between BNY Mellon and OpenEden represents a significant step towards the tokenization of traditional assets and signals a growing interest in regulated on-chain capital management.
