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BNY Mellon, the oldest U.S. bank, has been appointed as the primary custodian and investment manager for OpenEden’s tokenized U.S. Treasury Bills fund. This partnership marks a significant step in bridging traditional finance with blockchain-based asset management. The fund, rated ‘A’ by Moody’s, reflects growing institutional interest in compliant on-chain financial solutions.
- BNY Mellon becomes custodian and manager of OpenEden’s $TBILL fund, the first tokenized T-Bills fund with an 'A' Moody’s rating.
- The partnership merges BNY’s $55T custody infrastructure with OpenEden’s RWA tokenization platform, targeting institutional-grade blockchain solutions.
- BNY’s crypto initiatives include Bitcoin custody (2021), Chainalysis integration (2022), ETF preparations, and now Ripple’s stablecoin reserve management.
📎 Related coverage from: cryptopotato.com