Binance Labs has made a new investment in the RWA (Real-World Asset) platform OpenEden, to build a bridge towards a new financial system. With the obtained investment, the platform intends to expand access to yields guaranteed by RWA throughout the DeFi ecosystem. 

Binance Labs and the investment in OpenEden to promote the growth of RWA in Decentralized Finance

Binance Labs, the VC and incubation arm of Binance, has invested in the RWA platform of OpenEden to build a bridge towards a new financial system.

1/ We are delighted to announce @BinanceLabs strategic investment into @OpenEden_Labs!

The move marks Binance Labs’ first investment into the rapidly growing tokenized real-world assets, or “RWA” space.

Presently, OpenEden has just under $115 million in total value locked, or… pic.twitter.com/Ec8NcNq0nN

— OpenEden (@OpenEden_Labs) September 12, 2024

“We are pleased to announce @BinanceLabs’ strategic investment in @OpenEden_Labs!

The move marks the first investment by Binance Labs in the rapidly growing space of tokenized real-world assets, or “RWA”. Currently, OpenEden has just under 115 million dollars in total value locked, or “TVL” for our TBILL tokens, up from just over 11 million dollars at the beginning of the year…”

The amount of the investment has not been disclosed. What is known is that, with the obtained funding, OpenEden intends to expand access to yields guaranteed by RWA throughout the DeFi ecosystem.

Specifically, OpenEden is a group composed of a licensed fund management company in Singapore and a full-stack tokenization technology company.

The first product of OpenEden is a tokenized US fund, the T-Bill, which, last month, reached over 100 million dollars in TVL for its tokenized TBILL. 

In practice, OpenEden allows investors, DAOs, and cryptocurrency treasury managers with KYC to connect their self-custody wallets and collect TBILL tokens. In this way, they will be able to earn a yield on inactive working capital in stablecoins. 

The internal management of the platform of the entire tokenization stack results in greater operational efficiency and higher net returns for token holders. To date, OpenEden has welcomed over 100 institutional clients.

Binance Labs and OpenEden: the RWA platform, TBILL token, and a new way of doing finance

With the new investment from Binance Labs, OpenEden aims at introducing new products, creating channel partnerships, and exploring emerging markets.

In this regard, Andy Chang, Investment Director at Binance Labs, stated: 

“Binance Labs provides unconditional support to projects that are unlocking the next wave of opportunities in Web3 through meaningful and sustainable technologies. We believe that OpenEden is well-positioned to capitalize on the growing adoption of stablecoin and RWA and we are excited to join them on this journey”

With the increase in demand for tokenized RWA, T-Bills have emerged as the preferred choice by issuers. 

According to the blockchain analysis company Messari, the total value locked in RWA has grown exponentially in the past year, reaching 8 billion dollars.

The tokenization of US Treasury bonds on the ‘XRP Ledger

At the beginning of August, OpenEden had announced the tokenization of US Treasury bonds on Ripple’s XRP Ledger (XRPL). 

Ripple has allocated a whopping 10 million dollars in the TBILL token of OpenEden, which, for this project, has represented a form of crypto exposure towards US bonds. 

This new announcement also represents a revelation in the OpenEden house, as up to this moment, the Vault TBILL was available only for the Ethereum and Arbitrum blockchains.