The real world asset icon platform (RWA) has made a partnership with New York Mellon Corporation (BNY Mellon) to manage and custody of the basic assets of the leading American cabinet product, TBIL.
OpenDen announced the partnership on Wednesday, as it brought one of the largest and oldest holders of Wall Street to the growing market of the distinctive symbol.
OpenDen said that TBIL is the first US Treasury Fund with Moody’s “A” classification to manage its assets by a global guardian.
The MOODY “A” classification means that the assets are of high -ranking quality, which indicate a decrease in credit risk and a strong ability to meet financial obligations. It is safe through traditional financial standards.
OpenDENEN and CEO Jeremy NG said that the combination of their platform with “deep credit experience” of BNY allows them to create a new level of confidence in the area of digital assets.
OpenDen says that the demand for US Treasury bills has grown
The company said that the demand for the product has increased, which reflects the interest in the regulation management solutions.
OpenDENEN TBILENEN’s product was launched in 2023 to give Blockchain -based investors to a group of brief American treasury bills and reverse re -purchase agreements overnight by extracting the TBLL code.
This means that the TBIL code represents a share of the main portfolio of American treasury bonds that ripen in the short term and its associated return.
OpenDen said that the BNY Mellon, Dreyfus investment arm, will act as a sub -manager of the TBIL box. Meanwhile, BNY will serve as the primary guardian of basic assets, using its infrastructure.
Jose Minaya, head of Global Investments of BNY Mellon, said the bank believes that it is a bridge between traditional financing and emerging technology in the area of digital assets.
He said that the partnership will allow BNY Mellon to expand its liquidity management experience, adding that the two companies aim to cover the full life cycle of distinguished assets.
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Bny Mellon deepens the imprint of the distinctive symbol
BNY Mellon has been active in the area of digital assets since 2022, when she launched a digital custody platform for the Bitcoin (BTC) and ETHER (ETH).
The service allows the bank store to have special keys and access to funds, and provides the services of notebooks to finance managers at other assets.
On April 3, the bank launched a digital product for digital asset data data that provides Onchain and Offchain data via Blockchain networks, which expands its mark in the encryption space.
Recently, the bank has made a partnership with Goldman Sachs in the Capital Market Fund project.
On July 23, the two companies announced that they were preparing to provide institutional investors with access to the distinguished money market funds, which could open the market access around the clock throughout the week and settled the actual time in the capital market.
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