Binance Labs Invests in RWA Tokenization Platform OpenEden

Binance Labs, the venture capital arm of Binance, has backed OpenEden to boost real-world assets (RWA) tokenization.

OpenEden operates as a management company licensed by the Monetary Authority of Singapore (MAS) and also a tokenization technology firm. Its flagship product is the largest T-Bill offering outside of the US and is the first and only tokenized T-Bill to receive an "A" rating from Moody's.

The firm plans to bring trillions of dollars in real-world yields on chain, making them accessible through internet-native money and fostering a more inclusive, decentralized economy. Recently, OpenEden reported over $100 million in Total Value Locked (TVL) in its T-Bill tokens.

Andy Chang, Investment Director at Binance Labs, said, "OpenEden is well-positioned to capitalize on the growing adoption of stablecoins and RWAs, and we are excited to join them on this journey."

OpenEden allows KYC-compliant investors, decentralized autonomous organizations (DAOs), and crypto treasury managers to connect their self-custodial wallets and mint TBILL tokens, thereby enabling them to earn yield on stablecoins. It has onboarded over 100 institutional clients.

Jeremy Ng, Co-Founder of OpenEden, said Binance Labs' backing empowers the firm to "accelerate efforts in blending native yields with real-world yields, which will help stabilize returns in DeFi and create pathways for bringing institutional liquidity onto decentralized platforms."

Last month, OpenEden introduced tokenized US Treasury bills on the XRP ledger. The initiative aims to enhance liquidity and broaden access to traditional financial instruments within the blockchain ecosystem.

Ripple also said it will also allocate $10 million into OpenEden’s TBILL tokens, which will be part of a larger fund that Ripple will allocate to tokenized T-bills provided by OpenEden and other issuers.