Binance’s $10 Billion Arm Invests in “A” Rated Project.
Binance Labs, the $10 billion investment arm of the world’s largest cryptocurrency exchange Binance, has invested in OpenEden, an investment platform that aims to tokenize real assets (RWA).
OpenEden is a fund management company licensed by the central bank of Singapore and a full-stack tokenization technology company. The company’s tokenized U.S. Treasury Bond Fund (TBILL) is the only tokenized T-Bill product with an “A” rating from Moody’s and the largest such example outside the U.S.
OpenEden aims to bring trillions of dollars of real-world returns to the blockchain and believes that internet-based money will make this process accessible to everyone, creating a more inclusive and decentralized economy. Last month, OpenEden announced that it had secured over $100 million in total value locked (TVL) for its TBILL tokens.
TBILL is a smart contract vault that provides investors with direct access to a pool of short-term US Treasury bonds and reverse repurchase agreements. Investors can invest in assets in this pool by minting TBILL tokens.
The platform offers KYC-verified investors, DAOs, and crypto treasury managers the opportunity to connect their self-custody wallets to mint TBILL tokens and earn returns in stablecoins. With the support of Binance Labs, #OpenEden aims to expand RWA-backed returns in the DeFi ecosystem, introduce new products, and expand into new markets.