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The offering further broadens the tokenized real-world asset market beyond cash-equivalent and treasury strategies, which currently lead the industry.
BNY office (BNY)
Key details:
- OpenEden has launched HYBOND, the inaugural tokenized product connected to BNY Investments’ Global Short-Dated High-Yield Bond strategy, offering qualified investors access to a managed portfolio of corporate bonds.
- The offering further broadens the tokenized real-world asset market beyond cash-equivalent and treasury strategies, which currently lead the industry.
- HYBOND is issued by OpenEden Digital Limited, a Bermuda-regulated entity, while BNY Investments manages the underlying bond portfolio, continuing their earlier collaboration on a tokenized U.S. Treasury bill product.
OpenEden has introduced HYBOND, the first tokenized product linked to BNY Investments’ Global Short-Dated High-Yield Bond strategy, thus broadening the range of institutional-grade investments available on-chain.
The new token provides qualified investors 1:1 exposure to a managed portfolio of short-dated corporate bonds under the supervision of BNY Investments, a division of BNY.
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This product introduces higher-yield fixed income exposure to a market segment that has predominantly been led by tokenized cash-equivalent and treasury strategies. Data from rwa.xyz indicates that over $12 billion of the more than $27 billion in the tokenized real-world asset market consists of 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 acts as the investment manager for the underlying bond portfolio, it does not have direct involvement with the token itself, which is managed and issued by OpenEden.
“Tokenization has demonstrated its product-market fit with cash-equivalent and treasury strategies. HYBOND represents the next progression by integrating actively managed corporate bond exposure on-chain within a regulated framework,” stated Jeremy Ng, OpenEden’s CEO.
BNY and OpenEden previously collaborated on TBILL, a tokenized U.S. Treasury bill product. HYBOND extends that partnership by venturing into riskier credit instruments, which may attract investors in search of enhanced yields.
As of the end of 2025, BNY managed $2.2 trillion in assets and held over $59 trillion in assets under custody.
