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Conventional finance and blockchain proceed to converge and OpenEden’s newest milestone exhibits simply how far the 2 worlds have come collectively.
S&P International Rankings has awarded OpenEden’s BNY-managed TBILL Fund an “AA+f” fund credit score high quality ranking (FCQR) and an “S1+” fund volatility ranking (FVR), each representing S&P’s highest rankings for credit score high quality and stability.
The popularity locations OpenEden’s TBILL Fund among the many most institutionally trusted merchandise within the tokenized Treasury market, reaffirming its capability to ship regulated, yield-bearing publicity to U.S. Treasuries by means of blockchain infrastructure.
Rated by Two of the World’s Main Businesses
The brand new ranking follows the TBILL Fund’s earlier “A” ranking from Moody’s, making it the tokenized U.S. Treasuries fund to be rated by each S&P International and Moody’s, two of the world’s main credit score businesses.
S&P’s “AA+f” ranking highlights the fund’s very robust capability to satisfy its obligations and the excessive credit score high quality of its underlying short-dated U.S. Treasury securities. Its “S1+” volatility ranking—the very best on S&P’s scale—displays extraordinarily low sensitivity to market and rate of interest actions.
Collectively, these rankings set up the TBILL Fund as one of the crucial steady, clear, and institutionally recognised devices for tokenized mounted earnings publicity.
Institutional Foundations with BNY
In August 2025, OpenEden strengthened the TBILL Fund’s institutional confidence by means of a collaboration with The Financial institution of New York Mellon (BNY), the world’s largest custodian financial institution, with $52 trillion in belongings underneath custody.
Below this partnership, BNY holds the TBILL Fund’s underlying belongings in custody, whereas BNY Mellon Funding Administration (BNY IM), a top-ten international asset supervisor with $2 trillion in AUM, serves because the fund’s sole funding supervisor. This construction combines the safeguards and fiduciary oversight of conventional finance with the transparency and effectivity of on-chain structure.
Accelerating Institutional and DeFi Adoption
Since its launch in 2023, OpenEden’s TBILL Fund has grown its complete worth locked (TVL) greater than 1,000-fold, reaching $264 million in belongings underneath administration as of September 2025. This development displays the accelerating demand, from each institutional and DeFi individuals, for compliant, yield-bearing belongings backed by U.S. authorities securities.
“Receiving S&P International’s rankings alongside Moody’s is a major milestone that reinforces TBILL’s place because the gold normal for tokenized treasuries,” stated Jeremy Ng, Founder and CEO of OpenEden. “Twin rankings from two of the world’s most revered businesses present establishments with the reassurance they should take part in on-chain finance with confidence, understanding they’re participating with a regulated, clear, and investment-grade construction.”
Setting the Commonplace for On-Chain Credibility
As regulators and establishments proceed to discover how conventional monetary merchandise can migrate to blockchain, OpenEden’s dual-rated TBILL Fund presents a tangible instance of institutional-grade tokenization in apply, combining compliance, custody, and composability inside a single framework.
With S&P International and Moody’s rankings, BNY-managed oversight, and powerful adoption momentum, OpenEden’s TBILL Fund continues to set the benchmark for belief and transparency within the subsequent era of digital fixed-income merchandise.
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