Singaporean fintech company OpenEden has partnered with The Bank of New York Mellon (BNY) to manage its Tokenized U.S. Treasury Bills Fund ($TBILL). This partnership marks a significant milestone as it brings together the expertise of both firms and offers investors greater access to tokenized financial products. 2023 saw the launch of $TBILL, which creates Treasury bill tokens allowing investors exposure to a pool of short-term U.S. Treasury bills and overnight reverse repurchase agreements. Currently holding approximately $278 million in assets under management (AUM), the fund is now overseen by BNY Investments Dreyfus, a market leader with over 50 years of experience managing liquidity. BNY will also serve as the primary custodian for the fund, leveraging its vast existing infrastructure to manage assets worth US$55.8 trillion. This collaboration underscores BNY’s growing role in the digital asset space.