Binance Labs has invested in OpenEden, a company focused on building a new financial system through the tokenization of real-world assets (RWA).
Binance Labs, the venture capital and incubation arm of Binance, has been supporting and funding early-stage blockchain and Web3 projects since 2018. It provides strategic support, funding, and resources to projects in areas like decentralized finance (DeFi), NFTs, and other blockchain innovations to help grow the crypto ecosystem.
OpenEden, a fund management company licensed by the Monetary Authority of Singapore and a company specializing in tokenization technology. Their U.S. T-Bill Fund (TBILL) is the first and only tokenized T-Bill product to receive an A rating from Moody’s, and it’s the largest one outside the U.S. OpenEden is the largest non-US platform in the space with just under $115 million in Total Value Locked (“TVL”) across blockchains like Ethereum, Arbitrum, and XRP Ledger.
OpenEden stands out as the first and only A- bf rated Real World Asset (RWA) product of Moody’s credit rating. The platform has successfully onboarded and verified over 100 institutional clients and has become the largest non-U.S. issuer of tokenized treasuries. It has also received a second-highest rating from an independent audit by a “Big Four” firm and secured licensing and regulation in multiple regions. OpenEden offers a unique end-to-end RWA platform that handles issuing, tokenizing, and managing funds, and has launched the first smart-contract vault that allows for 24/7 on-chain minting.
And now, Binance labs has invested in OpenEden, a platform that focuses on turning real-world assets (RWA) into tokens, helping to create a new kind of financial system. It will make easier for traditional financial assets to be used in the crypto space. This could attract more investors, bring more liquidity to decentralized finance (DeFi), and help bridge the gap between traditional finance and blockchain. It could also boost confidence in OpenEden’s platform and its innovative financial products.
If OpenEden introduces their native token in the future, there could be a good chance it might get listed on Binance. Since Binance Labs has invested in OpenEden, this connection could increase the probability of their token being listed on Binance, as it would benefit from the existing relationship and support from Binance Labs.
Jeremy Ng who is theCo-Founder of OpenEden says, We are delighted to have the support of Binance Labs, a leader in the Web3 space, as we grow our tokenized real-world assets. Their backing helps us speed up our work in combining crypto yields with real-world yields, which will stabilize returns in DeFi and open doors for bringing institutional money into decentralized platforms.
By investing in OpenEden, Binance Labs is showing confidence in its potential to transform real-world asset tokenization. This support could serve OpenEden’s growth and stability in DeFi. If OpenEden has it’s Native token, will it be listed on Binance in the future? What do you think?
