Binance Labs, the investment arm of cryptocurrency exchange Binance, has declared its support for OpenEden, a platform specializing in tokenizing real-world assets (RWAs). OpenEden aims to bridge the gap between traditional finance and decentralized finance (DeFi) by bringing real-world yields into blockchain platforms.
Operating through two entities – a MAS-licensed fund management company and a technology firm offering tokenization infrastructure – OpenEden launched the TBILL Fund, tokenizing U.S. Treasury Bills. Notably, Moody’s recognized TBILL as the first A-rated tokenized T-Bill product outside the U.S., marking a significant milestone.
With its ambition to bring trillions of real-world yields to blockchain networks, OpenEden has attracted over 100 institutional clients, surpassing $100 million in Total Value Locked (TVL) for tokenized TBILLs. By enabling investors to mint TBILL tokens and earn stablecoin yields, OpenEden manages the tokenization stack internally to enhance net yields for holders.
Binance Labs’ recent investment in OpenEden showcases support for expanding RWA-backed yields in the DeFi ecosystem. OpenEden plans to introduce new financial products, establish partnerships, and penetrate emerging markets, aligning with Binance Labs’ commitment to fostering Web3 innovation through sustainable technologies.
Highlighting the partnership’s potential, Jeremy Ng, co-founder of OpenEden, envisions blending blockchain-native and real-world yields to stabilize DeFi returns and attract institutional liquidity. The surge in tokenizing RWAs, especially T-Bills, reflects the growing demand, with RWAs locked in surpassing $8 billion, according to Messari data.
Additionally, Binance recently enhanced support for the FIRO hard fork upgrade, complementing the sector’s growth trajectory. With a focus on unlocking Web3 opportunities, Binance Labs’ investment in OpenEden aims to revolutionize RWA tokenization and drive financial innovation in the blockchain realm.