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OpenEden
Active AUM
$328.08mKey Metrics
Onchain AUM$328.09m
Change (24h)+0.18%
Active / Onchain100%
DeFi Active TVL$6.13m
Change (24h)-0.08%
Utilization1.9%
Largest ProtocolEuler V2$4.85m
Net Flows 30dN/A
Net Flows 7dN/A
Live Assets5
Issuers3
Est. Annual Revenue$984,155
ConfidenceIssuer-Disclosed
Asset rankings
| Name | Chains | Asset Type | AUM | DeFi | Flows | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| T-Bills | $296.81m | $296.81m | +0.70% | $0 | 0% | $1.16 | ||||
| Yield RWA Stable | $14.37m | $14.37m | -5.19% | $115,645 | 0.8% | -85.28% | $0.99 | |||
| Stable Yield Wrapper | $11.88m | $11.88m | -0.87% | $1.16m | 9.75% | -0.74% | $1.05 | |||
| Corp Bond Fund | $4.98m | $5m | -0.16% | $4.85m | 97.41% | -0.16% | $1.73 | |||
| Active Vault | $32,467 | $32,467 | -0.79% | $5,221 | 16.08% | -0.78% | $0.99 | |||
About OpenEden
OpenEden is a blockchain-based platform providing infrastructure for tokenization and on-chain financial services. It enables users to access and trade diverse digital assets through decentralized protocols.
Entity
Legal entityTreasury Bills Institutional Liquidity Limited
HeadquartersSingapore, Singapore
Founded2022
Primary chainEthereum
Entity structure
OpenEden Group is the Singapore headquartered parent. TBILL is issued by BVI fund Hill Lights International Limited with technology by River Labs Pte Ltd. OpenEden Digital in Bermuda issues USDO. Administration, audit, and management are outsourced to Protege Fund Services, TJ Assurance Partners, and BNY IM.
Registry
OpenEden Labs (Singapore; MAS-regulated under regulated digital-asset framework). Issues TBILL (T-Bill-backed tokenized yield) and USDO (yield-bearing USD stablecoin). Founded 2023 by Jeremy Ng and Eugene Ng (formerly Gemini). Backed by Bo Hines investments, RockawayX, Tribe Capital. Rated investment-grade by Moody's.
Regulation
TBILL is issued by Hill Lights International Limited, a BVI professional fund regulated by the BVI Financial Services Commission, with BNY Mellon Investment Management Singapore as MAS regulated investment manager and BNY as custodian. Affiliate OpenEden Digital holds a Bermuda Class F Digital Asset Business licence and issues USDO. The TBILL fund carries an S and P AA+f rating and earlier received Moody s first tokenized fund A-bf rating.
Compliance
Of 5 assets
Attested5 of 5
KYC to mint or redeem5 of 5
Allowlisted to hold2 of 2
Transferable5 of 5
Self custody5 of 5
Redeemable5 of 5
Attestation frequencyDaily + Monthly
Last attestationDaily NAV + monthly attestation (NAV Consulting / Chaos Labs)
Fees & revenue
Revenue modelManagement Fee
ConfidenceIssuer-Disclosed
Est. Annual Revenue$984,155
Holder Total Fee30 bps
Asset Manager Take30 bps
Tokenization Platform Take0 bps
Performance Fee0%
Mint Fee5 bps
Redemption Fee5 bps
Underlying Fund Expense30 bps
Float IncomeNo
Fees Last Verified2026-07-09
Current docs show a 30 bps total expense ratio accrued daily plus a 5 bps transaction fee on both subscription and redemption paid in USDC. USDO adds a stablecoin margin business where OpenEden Digital keeps part of the reserve yield spread.
Milestones
- 2026-04HYBOND launched tokenizing a BNY Investments short dated high yield bond strategy
- 2025-10S and P assigns AA+f S1+ rating to the TBILL fund
- 2025-08BNY appointed investment manager and custodian
- 2025-02USDO regulated yield bearing stablecoin launched
- 2024-06Moody s A-bf rating, the first for a tokenized Treasury fund
- 2023-04TBILL Vault launches