Collaboration Paves Way for Institutional Access to Regulated On-Chain Cash Management Solution

BNY Mellon is set to custody the tokenized US Treasury fund TBILL in a groundbreaking collaboration with OpenEden. This partnership marks a significant milestone as it will provide institutional investors with access to a new, regulated on-chain cash-management solution.

The tokenized US Treasury fund TBILL has gained immense popularity since its launch in 2023. As the first Moody’s “A”-rated tokenized US Treasury fund managed by a custodian, this partnership is set to revolutionize the traditional finance landscape. BNY Mellon’s Dreyfus unit will serve as the sub-manager for the TBILL product.

The move highlights the growing demand for blockchain-based financial solutions that can cater to institutional investors seeking regulated and secure access points to US Treasurys. This collaboration further solidifies BNY Mellon’s position in the emerging digital asset space, having already established a digital custody platform in 2022.

In addition to TBILL, BNY Mellon has been actively collaborating with other financial institutions to develop tokenized money market funds, offering institutional investors access to blockchain-based assets.

Source: coincentral.com