BNY Investments and OpenEden Launch HYBOND

BNY Investments’ Global Short-Dated High-Yield Bond strategy has been tokenized through a partnership with Bermuda-regulated OpenEden. The new product, named HYBOND, provides qualified investors with access to a managed portfolio of corporate bonds.

Expanding the Tokenized Real-World Asset Market

HYBOND represents a significant expansion of the tokenized real-world asset (RWA) market. Currently, the RWA sector is largely dominated by tokenized cash-equivalent and U.S. Treasury strategies. Data indicates that over $12 billion of the $27 billion RWA market consists of U.S. Treasury debt.

How HYBOND Works

HYBOND is issued by OpenEden Digital Limited, a Bermuda-regulated entity licensed under the Digital Asset Business Act. BNY Investments manages the underlying bond portfolio, while OpenEden handles the issuance and management of the token itself. This builds upon a previous collaboration between the two firms on a tokenized U.S. Treasury bill product, TBILL.

Key Features of HYBOND

  • Provides 1:1 exposure to a managed portfolio of short-dated corporate bonds.
  • Offers higher-yield fixed income exposure.
  • Operates within a regulated framework.

Statements from Leadership

“Tokenization has proven its product market fit with cash-equivalent and treasury strategies. HYBOND represents the next step by bringing actively managed corporate bond exposure on-chain within a regulated framework,” said Jeremy Ng, OpenEden’s CEO.

BNY Investments' Scale

As of year-end 2025, BNY oversaw $2.2 trillion in assets under management and more than $59 trillion in assets under custody. This partnership with OpenEden allows BNY Investments to further innovate within the digital asset space.