Binance Labs, the venture capital and incubation arm of Binance, has invested in OpenEden, a platform focused on the tokenization of real-world assets (RWA).
According to an article on Binance’s blog, OpenEden comprises a Monetary Authority of Singapore-licensed fund management company and a tokenization technology company. Its tokenized U.S. T-Bill Fund (T-Bill) has received an "A" rating from Moody’s and is noted as the largest of its kind outside the United States.
OpenEden aims to bring trillions of dollars in real-world yields on-chain. It expects internet-native money to make RWAs accessible to all, leading to an inclusive and decentralized economy. In August, OpenEden achieved more than $100 million in Total Value Locked for their TBILLs.
With Binance Labs’ investment, OpenEden will expand access to RWA-backed yields throughout the decentralized finance (DeFi) ecosystem. This will be achieved by introducing new products, creating channel partnerships, and exploring emerging markets.
"Binance Labs provides unwavering support to projects that are unlocking the next wave of opportunities in Web3 through meaningful and sustainable technologies," Andy Chang, Binance Labs’ investment director, said in the article. "We believe OpenEden is well-positioned to capitalize on the growing adoption of stablecoins and RWAs, and we are excited to join them on this journey."
Jeremy Ng, OpenEden’s co-founder, said about Binance's investment: "Their backing empowers us to accelerate our efforts in blending native yields with real-world yields, which will help stabilize returns in DeFi and create pathways for bringing institutional liquidity onto decentralized platforms."