Binance Labs, the venture capital and incubation arm of Binance, has invested in OpenEden, a real-world assets (RWA) tokenization investment platform building the bridge to a new financial system.
OpenEden as a group consists of a Monetary Authority of Singapore-licensed fund management company and a full-stack tokenization technology company.
OpenEden’s tokenized U.S. T-Bill Fund (TBILL) is said to be “the first and only tokenized T-Bill product to receive an “A” rating from Moody’s, and is the largest of its kind outside the US.”
OpenEden’s mission is to bring trillions of dollars “in real-world yields on-chain. They believe internet-native money will make RWAs accessible to everyone, creating a more inclusive and decentralized economy.”
Last month, OpenEden announced that they “had achieved over $100 million in Total Value Locked (TVL”) for their tokenized TBILLs.”
By enabling KYC-ed investors, DAOs, and crypto treasury managers “to connect their self-custodial wallets and mint TBILL tokens, OpenEden allows them to earn a yield on their idle working capital in stablecoins.’
The platform’s in-house management of the “entire tokenization stack results in greater operational efficiency and higher net yields for token holders. To date, OpenEden has on-boarded over 100 institutional clients.”
With the new funding from Binance Labs, OpenEden plans to “expand access to RWA-backed yields throughout the DeFi ecosystem.”
This will be achieved through the introduction “of new products, the establishment of channel partnerships, and the exploration of emerging markets.”
Andy Chang, Investment Director, Binance Labs said:
“Binance Labs provides unwavering support to projects that are unlocking the next wave of opportunities in Web3 through meaningful and sustainable technologies. We believe OpenEden is well-positioned to capitalize on the growing adoption of stablecoins and RWAs, and we are excited to join them on this journey.”
As the demand for tokenized RWAs has surged, T-Bills have “emerged as a preferred choice among issuers. According to blockchain analytics firm Messari, the total value locked in RWAs has grown exponentially over the past year, reaching $8 billion.”
As the venture capital arm and incubator of Binance, Binance Labs is dedicated “to empowering early-stage projects and leading the growth and development of the Web3 ecosystem.”
Since their founding in 2018, they claim to have consistently “focused on the long-term, and provided strategic support and funding to projects, regardless of market cycles.”
As a chain- and sector-agnostic venture capital leader in the Web3 space, they back everything from infrastructure “to application layers, and our focus has consistently been on tech innovation with meaningful product-market fit and sustainable revenue models.”
Binance Labs’ portfolio covers over 250 projects “from over 25 countries across six continents. More than 65 of Binance Labs’ portfolio companies are projects that have gone through our incubation programs.”
