TLDR
- OpenEden raised new funding from Ripple and VCs to grow tokenized Treasurys.
- USDO stablecoin is backed by tokenized short-term US government debt.
- Binance approved cUSDO as off-exchange collateral earlier in 2025.
- Tokenized money market funds reached nearly $9B, says BIS.
Real-world asset tokenization platform OpenEden has raised new funding to scale its platform for tokenized U.S. Treasurys. The round was led by Ripple and included Lightspeed Faction, Gate Ventures, FalconX, Anchorage Digital Ventures, Flowdesk, and others. The total capital raised was not disclosed in the announcement made on Tuesday.
OpenEden aims to expand its infrastructure to meet the rising demand for regulated on-chain financial products. The company plans to use the funds to enhance its tokenization-as-a-service platform and grow its range of offerings that connect traditional finance with decentralized ecosystems.
Tokenized T-Bills and Yield-Bearing Stablecoin at the Core
OpenEden’s key products include TBILL, a tokenized U.S. Treasury fund, and USDO, a yield-bearing stablecoin backed by those government securities. USDO’s wrapped version, cUSDO, is already integrated with decentralized exchanges and lending protocols. Earlier this year, Binance approved cUSDO as eligible off-exchange collateral, enabling users to post it while trading on the platform.
The company has also announced plans for tokenized bond exposure, a multi-strategy yield token, and structured financial products. These offerings aim to combine blockchain-based efficiency with compliance-ready frameworks expected by institutional investors.
Partnership with Ripple and Institutional-Grade Backing
Ripple’s support marks a strategic step in connecting traditional yield-generating assets to blockchain liquidity. OpenEden CEO Jeremy Ng said, “This partnership with Ripple brings regulated, yield-bearing assets into a system that moves with stablecoin speed and flexibility.” He added that institutions are looking for trusted platforms to bring assets on-chain in a secure and compliant way.
The firm has appointed The Bank of New York Mellon (BNY Mellon) as the custodian and investment manager for the U.S. Treasurys that support TBILL. Furthermore, TBILL has received investment-grade credit ratings from both S&P Global and Moody’s, helping to establish credibility among institutional users.
Tokenized Funds Becoming Key Yield Drivers in Crypto
Tokenized money market funds are quickly emerging as a growing sector within crypto. A report from the Bank for International Settlements (BIS) found that assets held in tokenized money funds rose to nearly $9 billion in 2025, compared to $770 million at the end of 2023. These products are seen as a safer and yield-generating alternative to traditional stablecoins.
OpenEden is among several companies using tokenized short-dated U.S. government debt to offer yield-bearing products on public blockchains. The company’s new funding round places it in a stronger position to serve both decentralized protocols and traditional institutions with blockchain-integrated treasury solutions.
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