Crypto02 April, 20261 min read
OpenEden Launches HYBOND Token Backed by BNY's High-Yield Bond Strategy
HYBOND is OpenEden's tokenized product tied to BNY Investments' short-dated high-yield bond strategy. It provides 1:1 exposure to the underlying bond fund on-chain.
OpenEden Introduces HYBOND
OpenEden launched HYBOND, the first tokenized product tied to BNY Investments' high-yield bond strategy. HYBOND provides 1:1 exposure to a managed portfolio of short-dated corporate bonds.
The product is issued by OpenEden Digital Limited, a Bermuda-regulated entity. This marks the first institutional high-yield credit product tokenized on-chain.
Expanding Tokenized Real-World Assets
HYBOND expands institutional-grade investments available onchain. Tokenized cash-equivalent and treasury strategies dominate the $27 billion RWA market. BNY Mellon's strategy delivered 14.71% in 2023 with zero defaults since 2011.
Regulated Framework and Institutional Collaboration
HYBOND is issued within a regulated framework using offshore entities. BNY Investments manages the underlying portfolio but does not directly issue the token. The partnership builds on an existing collaboration between OpenEden and BNY.