OpenEden raises strategic VC round to scale tokenised US Treasury products
OpenEden closed a strategic funding round on December 1 to scale its real-world asset (RWA) tokenization platform, led by investors including Ripple, Lightspeed Faction, Gate Ventures, FalconX, Anchorage Digital Ventures, Flowdesk, P2 Ventures, Selini Capital, Kaia Foundation and Sigma Capital. The raise follows an earlier 2024 round that included YZi Labs and will accelerate OpenEden’s tokenization-as-a-service offering for regulated traditional assets. Core products are TBILL, a tokenized short-term US Treasury fund, and USDO, a yield-bearing stablecoin fully backed by short-dated US Treasuries. Institutional credibility has increased after BNY Mellon was appointed custodian and investment manager for TBILL, and both S&P Global and Moody’s assigned investment-grade ratings to the product. A wrapped variant, cUSDO, has been accepted as off-exchange collateral on Binance, enabling institutional counterparties to post it for trading access. OpenEden said it will expand its product suite with bond-exposure tokens, multi-strategy yield tokens and structured products to deepen on-chain access to regulated, cash-equivalent yields. This financing and product push come amid growing institutional demand for tokenized government debt and a broader resurgence in crypto lending markets — developments likely to increase institutional flows into tokenised short-term Treasury products and stablecoins backed by high-quality collateral.
Bullish
This news is bullish for OpenEden’s tokenised Treasury products and related yield-bearing stablecoins. Key catalysts: a fresh institutional-led funding round increases growth capital and credibility; BNY Mellon’s appointment and investment-grade ratings from S&P and Moody’s reduce perceived counterparty and credit risk; Binance’s acceptance of cUSDO as off-exchange collateral improves utility and institutional access. In the short term, these developments may drive inflows into TBILL and USDO as traders and institutions seek regulated on-chain yield, supporting demand and liquidity. Over the medium-to-long term, expanded product offerings (bond exposure tokens, multi-strategy yield tokens, structured products) and improved institutional distribution can deepen market adoption, reduce volatility through larger liquidity pools, and make these instruments a standard on-chain cash-equivalent option. Risks remain — macro-driven Treasury yields, regulatory shifts, or operational issues could mute upside — but the combination of third-party custodianship, ratings, and exchange acceptance points to a net positive price impact for the mentioned token products.