OpenEden is the most significant tokenized Treasury issuer that is not based in the United States.
Binance Labs, the venture capital subsidiary of the world’s largest crypto exchange, has disclosed an investment in OpenEden, a real-world asset (RWA) protocol.
According to DeFiLlama, OpenEden, the largest non-US platform in the RWA space, is headquartered in Singapore and has a total value locked (TVL) of $109 million. The fifth largest US T-Bill issuer, the platform’s T-Bill TVL has increased by nearly 10 times this year since its inception in 2024 with $11 million.
OpenEden’s TBILL is the sole U.S. T-Bill product to acquire a “A” rating from Moody’s Ratings, which is one of the “Big 3” credit rating agencies, along with S&P and Fitch Group.
There was no indication of the investment’s volume. UXD Protocol led a funding round in May 2023 that secured $5 million for OpenEden.
OpenEden became the largest issuer of RWAs on XRPL, Ripple’s peer-to-peer exchange network, as a result of its partnership with Ripple in August. Ripple will also allocate $10 million to OpenEden-based T-Bills on XRPL as part of the agreement.
The platform is currently operational on Ethereum, Arbitrum, and XRPL, and it provides users with an approximate yield of 4.75%.
Eugene Ng of OpenEden stated on social media, “This strategic investment from @BinanceLabs solidifies the strong foundation that we are establishing for the long term.”
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