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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 World 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 via 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 World and Moody’s, two of the world’s main credit score businesses.
S&P’s “AA+f” score highlights the fund’s very sturdy capability to satisfy 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 some of the 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 via a collaboration with The Financial institution of New York Mellon (BNY), the world’s largest custodian financial institution, with $52 trillion in belongings below custody.
Underneath 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 below administration as of September 2025. This progress displays the accelerating demand, from each institutional and DeFi members, for compliant, yield-bearing belongings backed by U.S. authorities securities.
“Receiving S&P World’s scores alongside Moody’s is a major milestone that reinforces TBILL’s place because the gold customary 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 reassurance they should take part in on-chain finance with confidence, figuring out they’re partaking with a regulated, clear, and investment-grade construction.”
Setting the Customary 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 provides a tangible instance of institutional-grade tokenization in apply, combining compliance, custody, and composability inside a single framework.
With S&P World and Moody’s scores, BNY-managed oversight, and powerful adoption momentum, OpenEden’s TBILL Fund continues to set the benchmark for belief and transparency within the subsequent technology of digital fixed-income merchandise.