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Conventional finance and blockchain proceed to converge and OpenEden’s newest milestone reveals 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 score (FCQR) and an “S1+” fund volatility score (FVR), each representing S&P’s highest scores 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 potential 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 score follows the TBILL Fund’s earlier “A” score 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” score highlights the fund’s very robust capability to fulfill its obligations and the excessive credit score high quality of its underlying short-dated U.S. Treasury securities. Its “S1+” volatility score—the very best on S&P’s scale—displays extraordinarily low sensitivity to market and rate of interest actions.
Collectively, these scores set up the TBILL Fund as one of the vital secure, 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 property beneath custody.
Underneath this partnership, BNY holds the TBILL Fund’s underlying property in custody, whereas BNY Mellon Funding Administration (BNY IM), a top-ten world 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 property beneath administration as of September 2025. This development displays the accelerating demand, from each institutional and DeFi members, for compliant, yield-bearing property backed by U.S. authorities securities.
“Receiving S&P International’s scores alongside Moody’s is a big milestone that reinforces TBILL’s place because the gold normal for tokenized treasuries,” stated Jeremy Ng, Founder and CEO of OpenEden. “Twin scores from two of the world’s most revered businesses present establishments with the peace of mind they should take part in on-chain finance with confidence, understanding they’re partaking 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 gives a tangible instance of institutional-grade tokenization in observe, combining compliance, custody, and composability inside a single framework.
With S&P International and Moody’s scores, BNY-managed oversight, and robust adoption momentum, OpenEden’s TBILL Fund continues to set the benchmark for belief and transparency within the subsequent era of digital fixed-income merchandise.
