02.04.2026 09:50

BNY Investments has partnered with OpenEden to launch **HYBOND**, a token that mirrors the firm’s Global Short‑Dated High‑Yield Bond strategy. By issuing the token on a blockchain, the product extends institutional‑grade fixed‑income options to investors who can now obtain 1:1 exposure to a portfolio of short‑dated corporate bonds that the investment manager oversees. This marks the first on‑chain vehicle that moves beyond cash‑equivalent and Treasury‑focused offerings into higher‑yield corporate credit, a niche that, according to data aggregator rwa.xyz, still represents only a fraction of the tokenized real‑world asset market.

The token is minted by **OpenEden Digital Limited**, a Bermuda‑based entity licensed under the island’s Digital Asset Business Act. While BNY Investments acts as the manager of the underlying bond holdings, it does not play a direct role in the token’s issuance or administration. “Tokenization has already demonstrated product‑market fit with cash‑equivalents and Treasury strategies. HYBOND takes the next step by providing actively managed corporate‑bond exposure on a regulated blockchain,” said Jeremy Ng, OpenEden’s chief executive.

The collaboration builds on an earlier effort, **TBILL**, which tokenized U.S. Treasury bills. HYBOND expands that framework to riskier credit instruments, targeting investors who seek greater yield. At the end of 2025, BNY Investments managed $2.2 trillion in assets and oversaw more than $59 trillion in custody, underscoring the scale of the backing behind the new token. (Source: Coindesk, 2025/04/02)