Binance Labs has made a strategic investment in OpenEden, a platform focused on tokenizing real-world assets.
According to a press release from Binance, mailBinance Labs, the investment arm of Binance, aims to bring the benefits of real-world financial returns on-chain by integrating traditional assets, such as treasuries, into the decentralized finance ecosystem through OpenEden. This is where Binance Invest (BNB) comes in.
The investment from Binance Labs is expected to help OpenEden expand its offerings and further integrate RWA tokens into the DeFi space. The funding will be used to develop new products, build partnerships, and explore emerging markets.
In June, McKinsey estimated that the market value of real-world token assets could reach $2 trillion by 2030, with a bullish scenario projecting a $4 trillion market cap. It noted that adoption could vary across asset classes based on factors such as feasibility, market maturity, and risk appetite.
OpenEden Details
OpenEden is a fund manager licensed by the Monetary Authority of Singapore and a full-stack token technology company. Its flagship product, the US Treasury Tokenized Bond Fund, known as TBILL, is currently the largest tokenized Treasury bond product outside the United States.
Last month, the platform surpassed $100 million in total value locked for its TBILL tokens, according to Binance Labs.
The platform allows KYC-verified investors, decentralized autonomous organizations, and crypto treasury managers to mint TBILL tokens using self-custodial wallets. This allows investors to earn returns on stablecoins through tokenized US Treasuries, providing a decentralized alternative to traditional financial products.
By managing the tokenization process in-house, OpenEden claims to offer operational efficiencies and higher returns for token holders. The company has onboarded over 100 institutional clients to date, according to Binance Labs.
Andy Zhang, CIO of Binance Labs, highlighted OpenEden’s potential to capitalize on the growing demand for RWAs and stablecoins, saying, “We are excited to support OpenEden in their mission to unlock new opportunities in Web3 through sustainable technologies.”
The rise of tradable collateralized assets, particularly Treasury bonds, has gained momentum over the past year. According to Messari, the total value locked in tradable collateralized assets has reached $8 billion, reflecting the growing demand for these assets in the blockchain space.
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