Beyond T-bills: OpenEden introduces tokenized high-yield corporate bond
The product further expands the tokenized real-world asset market beyond cash-equivalent and treasury strategies, which currently dominate the sector.
What to know:
- OpenEden has launched HYBOND, the first tokenized product tied to BNY Investments’ Global Short-Dated High-Yield Bond strategy, giving qualified investors exposure to a managed portfolio of corporate bonds.
- The product further expands the tokenized real-world asset market beyond cash-equivalent and treasury strategies, which currently dominate the sector.
- HYBOND is issued by OpenEden Digital Limited, a Bermuda-regulated entity, while BNY Investments manages the underlying bond portfolio, building on their previous collaboration on a tokenized U.S. Treasury bill produc
The product introduces higher-yield fixed income exposure to a market segment that has so far been dominated by tokenized cash-equivalent and treasury strategies. Data from rwa.xyz shows over $12 billion of the more than $27 billion in the tokenized real-world asset market are U.S. Treasury debt.
HYBOND is issued by OpenEden Digital Limited, a Bermuda-regulated entity licensed under the Digital Asset Business Act, according to a press release on Wednesday.
While BNY Investments serves as the investment manager for the underlying bond portfolio, it has no direct involvement in the token itself, which is managed and issued by OpenEden.
“Tokenization has proven its product market fit with cash-equivalent and treasury strategies. HYBOND represents the next step by bringing actively managed corporate bond exposure on-chain within a regulated framework,” said Jeremy Ng, OpenEden’s CEO.
