Ripple and Major VCs Support OpenEden’s Tokenized Treasurys Initiative

OpenEden, a real-world asset (RWA) tokenization platform, has successfully completed an investment round with support from prominent trading firms, venture capitalists, blockchain networks, and institutional infrastructure providers to enhance its offerings of tokenized US Treasurys.

Key Takeaways

OpenEden has secured investment from major players like Ripple and Lightspeed Faction to scale tokenized US Treasurys.
The platform aims to enhance its tokenization-as-a-service solutions and introduce new products that integrate with traditional markets.
Key offerings will include the tokenized US Treasury fund TBILL and the USDO yield-bearing stablecoin.
The global market for tokenized money market funds is rapidly expanding and offers competitive yields compared to traditional funds.

Jeremy Ng, founder and CEO of OpenEden, emphasizes the need for reputable, compliant infrastructure as tokenization gains traction across different sectors: “As tokenization scales in adoption, institutions and protocols are seeking trusted, compliant infrastructure to bring traditional assets on-chain.”

Investors in this latest round include Ripple, Lightspeed Faction, Gate Ventures, FalconX, Anchorage Digital Ventures, Flowdesk, P2 Ventures, Selini Capital, Kaia Foundation, and Sigma Capital. The specific amount raised remains undisclosed.

Total RWA market overview. Source: RWA.xyz

Ripple, major VCs back RWA platform OpenEden to scale tokenized Treasurys

The recent funding round follows OpenEden's earlier fundraising efforts with YZi Labs and comes during a period of significant growth in the tokenization of short-dated government debt, which has become one of the fastest-growing areas in cryptocurrency this year.

Plans for Expansion: Tokenized T-Bills and Yield Stablecoin

OpenEden intends to utilize this new capital to expand its tokenization-as-a-service platform while introducing additional products linked to traditional financial markets. The primary focus will be on the tokenized US Treasury fund TBILL and USDO, a yield-bearing stablecoin that is backed by these Treasurys.

“This funding round enhances our ability to provide regulated, market-ready products that meet both traditional finance and decentralized finance standards,” Ng added.

USDO, along with its wrapped version, cUSDO, is already integrated within decentralized exchanges and lending markets. Earlier this year, cUSDO received approval for off-exchange collateral use at Binance, allowing users to leverage this asset during trading.

OpenEden is also gearing up to introduce tokenized bond exposure, a multi-strategy yield token, and a series of structured financial products. In August, the company appointed The Bank of New York Mellon Corporation (BNY) as custodian and investment manager for the Treasurys backing TBILL. Additionally, OpenEden has obtained investment-grade ratings from S&P Global and Moody’s for this product.

Tokenized Money Market Funds: Crypto’s New Yield Generator

A recent report from the Bank for International Settlements indicates that tokenized money market funds are emerging as vital yield-generating products on public blockchains, providing returns comparable to traditional money market funds while offering protections typically absent in standard stablecoins.

The BIS reports that the total assets in tokenized money market funds have surged to nearly $9 billion, a significant increase from approximately $770 million at the end of 2023.

Magazine: 2026 is the year of pragmatic privacy in crypto — Canton, Zcash and more