OpenEden, a platform focused on the tokenization of real-world assets, has successfully closed an investment round with significant backing from major trading firms, venture capital funds, blockchain networks, and institutional infrastructure providers. The primary objective of this funding is to accelerate the scaling of tokenized US Treasurys.
This latest funding round follows OpenEden's previous raise in 2024 with YZi Labs. The investment comes at a time when tokenized versions of short-dated government debt have emerged as one of the most rapidly expanding niches within the cryptocurrency space in 2025, according to a press release issued by the firm on Tuesday.
"As tokenization scales in adoption, institutions and protocols are seeking trusted, compliant infrastructure to bring traditional assets on-chain," stated Jeremy Ng, founder and CEO of OpenEden.
The investment round saw participation from notable entities including Ripple, Lightspeed Faction, Gate Ventures, FalconX, Anchorage Digital Ventures, Flowdesk, P2 Ventures, Selini Capital, Kaia Foundation, and Sigma Capital. The specific amount raised in this round was not disclosed by the firm.
OpenEden to Expand Tokenized T-Bills and Yield Stablecoin Offerings
OpenEden has announced its intention to utilize the newly acquired capital to enhance its tokenization-as-a-service platform and introduce new products linked to traditional financial markets. The company's strategic focus will remain on its two core offerings: TBILL, its tokenized US Treasury fund, and USDO, a yield-bearing stablecoin collateralized by these treasuries.
"This funding round boosts our capacity to provide regulated, market-ready products that fit both traditional and decentralized finance standards," Ng elaborated.
USDO and its wrapped counterpart, cUSDO, have been integrated across various decentralized exchanges and lending markets. Earlier this year, cUSDO received approval for use as off-exchange collateral at Binance, enabling clients to post the asset while engaging in trading activities on the platform.
Further product development at OpenEden includes preparations for tokenized bond exposure, a multi-strategy yield token, and a suite of structured products.
In August, OpenEden appointed The Bank of New York Mellon Corporation (BNY) as the custodian and investment manager for the treasuries that underpin TBILL. Additionally, OpenEden has secured investment-grade ratings for the TBILL product from S&P Global and Moody's.
Tokenized Money Funds Emerge as Key Yield Generators in Crypto
A recent report from the Bank for International Settlements (BIS) highlights that tokenized money market funds are rapidly becoming one of the most significant yield-generating products available on public blockchains. These offerings provide returns comparable to traditional money market funds while incorporating safeguards that are typically absent in standard stablecoins.
The BIS estimates that assets held within tokenized money market funds have seen a substantial increase, climbing to nearly $9 billion from approximately $770 million at the close of 2023.