Skip to content
Finance — Investing — All about technology.

BNY Mellon to Serve as Depository for OpenEden's Tokenized U.S Treasury Bills Asset

American financial services company from the USA takes control over the RWA-tokenization platform's Treasury Bill fund management.

,   and  Administrator
2 min read
BNY Mellon Designated as Custodian for OpenEden's Tokenized U.S. Treasury Bills Asset Fund
BNY Mellon Designated as Custodian for OpenEden's Tokenized U.S. Treasury Bills Asset Fund

BNY Mellon to Serve as Depository for OpenEden's Tokenized U.S Treasury Bills Asset

The Bank of New York Mellon (BNY Mellon) has taken a significant step in the digital asset space, being appointed as sub-manager and primary custodian for OpenEden's tokenized US Treasury Bills fund, known as $TBILL.

This partnership, announced in August 2025, leverages BNY Mellon's extensive asset servicing infrastructure, managing trillions in assets, to provide custody and investment management for the underlying short-dated US Treasury Bills and overnight repurchase agreements that back the $TBILL token.

The $TBILL token fund offers regulated, tokenized exposure to US Treasury Bills, targeting institutional clients. The fund, launched in 2023, has seen strong investor demand, with assets under management growing to $287 million by mid-2025, a 156% increase since January 2025.

The fund's Moody’s rating was initially a subject of controversy, with a downgrade, but was re-upgraded to an "A"-bf rating following the appointment of BNY Mellon Investment Management Singapore as investment manager.

BNY Mellon's involvement aims to provide greater trust, transparency, and fiduciary expertise in the evolving digital asset space. This partnership represents a significant development in institutional adoption of tokenized real-world asset funds.

The Bank of New York Mellon has been focusing on building a unified platform that bridges traditional finance (TradFi) and decentralized finance (DeFi) asset custody. In 2021, the bank started offering Bitcoin custody services to its clients and established a dedicated unit for digital assets.

The partnership will appoint bank members as investment managers and primary curators of OpenEden's Tokenized U.S. Treasury Bills ($TBILL) Fund. BNY Investments Dreyfus, a large liquidity manager, will oversee the fund on behalf of OpenEden as a sub-manager.

This news marks a significant milestone in BNY Mellon's journey in incorporating digital assets into its global reach, shaping the future of financial infrastructure by bringing compliant and institutional-grade assets to the blockchain.

[1] The Block, "BNY Mellon appointed as sub-manager and custodian for OpenEden’s $TBILL fund," August 2025. [2] CoinDesk, "$TBILL fund assets grow 156% since January 2025," August 2025. [3] Reuters, "BNY Mellon's involvement boosts $TBILL fund's Moody’s rating," August 2025. [4] Yahoo Finance, "BNY Mellon and OpenEden partnership shapes future of financial infrastructure," August 2025.

Read also:

Related

Latest