OpenEden

On-chain AUM$281.49m

Platform totals

Live assets5

Chains7

Est. annual revenue$844,427.56

DeFi TVL$20.25m

DeFi TVL / AUM7.2%

Confirmed attestations5 / 5

Primary accessPermissionless (3)

Totals for filtered assets

$281.48m

$281.49m

$20.25m

Assets Rankings

1d7d1m

Name		Marketcap			DeFi			Flows
Name
OpenEden5 assets		$281.48m	$281.49m	-1.33%	$20.25m	7.2%	-4.35%

About OpenEden

OpenEden is a blockchain-based platform providing infrastructure for tokenization and on-chain financial services. It enables users to access and trade diverse digital assets through decentralized protocols.

T-BillsBond & MMF FundsPermissionless

Website Docs Protocol page

Profile

Founded: 2022
Headquarters: Singapore, Singapore
Primary chain: Ethereum
Parent platform: OpenEden
Issuer: Treasury Bills Institutional Liquidity Limited

Economics & revenue

Holder total fee30 bps

Asset manager take30 bps

Tokenization platform take0 bps

Performance fee0%

Mint fee5 bps

Redemption fee5 bps

Underlying fund expense30 bps

Float incomeNo

Revenue confidenceIssuer-Disclosed

Fees last verified2026-07-09

Attestations & milestones

Attestation frequency: Daily + Monthly
Last attestation: Daily NAV + monthly attestation (NAV Consulting / Chaos Labs)

2026-04HYBOND launched tokenizing a BNY Investments short dated high yield bond strategy
2025-10S and P assigns AA+f S1+ rating to the TBILL fund
2025-08BNY appointed investment manager and custodian
2025-02USDO regulated yield bearing stablecoin launched
2024-06Moody s A-bf rating, the first for a tokenized Treasury fund
2023-04TBILL Vault launches

Revenue methodology & documents

Revenue model: Management Fee

Current docs show a 30 bps total expense ratio accrued daily plus a 5 bps transaction fee on both subscription and redemption paid in USDC. USDO adds a stablecoin margin business where OpenEden Digital keeps part of the reserve yield spread.

Issuer registry, regulation & leadership

Founders and leadership

Jeremy Ng — Founder, CEO Eugene Ng — Co-Founder

Issuer registry

OpenEden Labs (Singapore; MAS-regulated under regulated digital-asset framework). Issues TBILL (T-Bill-backed tokenized yield) and USDO (yield-bearing USD stablecoin). Founded 2023 by Jeremy Ng and Eugene Ng (formerly Gemini). Backed by Bo Hines investments, RockawayX, Tribe Capital. Rated investment-grade by Moody's.

Regulatory status

TBILL is issued by Hill Lights International Limited, a BVI professional fund regulated by the BVI Financial Services Commission, with BNY Mellon Investment Management Singapore as MAS regulated investment manager and BNY as custodian. Affiliate OpenEden Digital holds a Bermuda Class F Digital Asset Business licence and issues USDO. The TBILL fund carries an S and P AA+f rating and earlier received Moody s first tokenized fund A-bf rating.

Entity structure

OpenEden Group is the Singapore headquartered parent. TBILL is issued by BVI fund Hill Lights International Limited with technology by River Labs Pte Ltd. OpenEden Digital in Bermuda issues USDO. Administration, audit, and management are outsourced to Protege Fund Services, TJ Assurance Partners, and BNY IM.

Issuer source