OpenEden, a real-world asset (RWA) tokenisation platform, launched HYBOND, its first tokenised product linked to a high-yield bond strategy managed by BNY Investments.
According to a recent report by The Block, HYBOND is designed to provide 1-to-1 exposure to BNY Investments' Global Short-Dated High-Yield Bond strategy. BNY Investments will manage the underlying assets. BNY Investments is an affiliate of BNY (NYSE: BK).
OpenEden said the HYBOND launch expands choices beyond cash-like assets and Treasury bond-focused offerings to products with an early credit-risk return structure.
OpenEden Chief Executive Jeremy Ng (제러미 응) said, "Tokenisation has proven product-market fit in cash-like assets and Treasury bond strategies." He added, "HYBOND is the next step in bringing actively managed corporate bond exposure on-chain within a regulatory framework."
Founded in 2022, OpenEden provides on-chain access to tokenised real-world assets through regulated entities in Bermuda and the British Virgin Islands. BNY was also recently selected as the underlying asset manager and a key custodian for OpenEden's tokenised Treasury bond product, the TBILL Fund.
Chi-gyu Hwang
delight@d-today.co.kr