OpenEden Launches HYBOND Token Backed by BNY's High-Yield Bond Strategy
Key Takeaways
- 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.
- The product broadens tokenized real-world assets beyond cash-equivalent and treasury strategies.
OpenEden Introduces HYBOND
OpenEden launched HYBOND, the first tokenized product tied to BNY Investments' high-yield bond strategy.
“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”
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.
“Bitget App Trade smarter Buy cryptoMarketsTradeFuturesEarnSquareMore Bitget News OpenEden collaborates with BNY Investments to launch the tokenized product HYBOND on the Ethereum blockchain OpenEden collaborates with BNY Investments to launch the tokenized product HYBOND on the Ethereum blockchain”
BNY Investments manages the underlying portfolio but does not directly issue the token.
The partnership builds on an existing collaboration between OpenEden and BNY.
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