Binance Labs has made a strategic investment in OpenEden, a platform focused on the tokenization of real-world assets.
According to Binance mailBinance Labs, From Binance The venture capital arm aims to bring the benefits of real-world financial returns on-chain by integrating traditional assets, such as Treasury bills, into the decentralized finance ecosystem through OpenEden. This is where Binance (BNB) investment comes into play.
Binance Labs’ investment is expected to help OpenEden expand its offerings and further integrate Tokenized RWAs in the DeFi space. The funding will be used to develop new products, build partnerships, and explore emerging markets.
In June, McKinsey My dear that the market value of real-world tokenized assets could reach $2 trillion by 2030, with a bullish scenario projecting up to $4 trillion. They noted that adoption would vary across asset classes based on factors such as viability, market maturity and risk appetite.
OpenEden Details
OpenEden is a Monetary Authority of Singapore-licensed fund management company and a comprehensive tokenization technology firm. Its flagship product, a tokenized U.S. Treasury bill fund, known as TBILL, is currently the largest tokenized Treasury bill product outside the U.S.
Last month, the platform surpassed $100 million in total value locked for its tokenized TBILLs, according to Binance Labs.
The platform allows KYC verified investors, decentralized autonomous organizations, and cryptocurrency treasury managers to mint TBILL tokens using self-custodial wallets. This allows investors to generate returns on stablecoins through tokenized US Treasury bills, offering a decentralized alternative to traditional financial products.
By managing the Tokenization OpenEden claims that by implementing the process in-house, it offers operational efficiencies and higher returns for token holders. To date, the company has onboarded more than 100 institutional clients, according to Binance Labs.
Andy Chang, Chief Investment Officer at Binance Labs, highlighted OpenEden’s potential to capitalize on the growing demand for RWA and stablecoins, saying: “We are excited to support OpenEden in its mission to unlock new opportunities in Web3 through sustainable technologies.”
The rise of tokenized RWA, particularly Treasury bills, has gained momentum over the past year. According to Messari, the total value locked in RWA has reached $8 billion, reflecting the growing demand for these assets in the blockchain space.
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