- The company will focus on scaling TBILL and the yield-bearing stablecoin USDO.
- cUSDO was approved this year as off-exchange collateral at Binance.
- BNY Mellon now administers and safeguards the Treasury assets backing TBILL.
Tokenization of real-world assets is becoming one of the most active sectors in crypto in 2025, and OpenEden is positioning itself at the center of that shift with a new funding round backed by major industry players.
The company confirmed on Tuesday that leading trading firms, venture capital groups, blockchain networks, and institutional infrastructure providers participated in its latest raise to expand access to tokenized U.S. Treasury holdings.
The round, which follows OpenEden’s 2024 growth investment from YZi Labs, comes as short-term government debt has emerged as one of the fastest-growing niches in digital assets, as institutions seek familiar, regulated on-chain yield.
Demand for tokenization drives new investment momentum
OpenEden said the fresh capital will help it scale its tokenization-as-a-service platform as more institutions look to move traditional assets onto public blockchains.
The firm is responding to growing demand for regulated products tied to government debt, with short-term Treasuries becoming a favored entry point for investors seeking on-chain yield that mirrors conventional markets.
OpenEden did not disclose the round’s size but confirmed participation from Ripple, Lightspeed Faction, Gate Ventures, FalconX, Anchorage Digital Ventures, Flowdesk, P2 Ventures, Selini Capital, Kaia Foundation, and Sigma Capital.
Scaling TBILL and USDO across markets
A key focus of the planned expansion is OpenEden’s two core offers: TBILL, its tokenized U.S. Treasury fund, and USDO, a stablecoin backed by the same Treasury holdings.
Both USDO and its wrapped version, cUSDO, are already integrated into decentralized exchanges and lending markets.
Earlier this year, Binance authorized cUSDO as off-exchange collateral.
OpenEden said the new investment will support broader distribution of these products and enable the company to introduce additional market structures tied to real financial assets.
A broader product suite strengthens institutional focus
Beyond Treasuries, OpenEden is developing several new instruments designed to deepen institutional engagement with tokenized markets.
Planned offerings include tokenized bond exposure, a multi-strategy yield token, and a range of structured products aimed at investors familiar with traditional income-generation tools.
In August, the company appointed BNY Mellon as custodian and investment manager for the underlying Treasury holdings that support TBILL.
The product has also received investment-grade ratings from S&P Global and Moody’s, marking a notable step in aligning conventional market standards with decentralized financial infrastructure.