OpenEden, a Bermuda-registered real-world asset ( RWA ) tokenization platform, has launched Hybond, the first tokenized product to offer on-chain access to BNY Investments’ global short-dated high-yield bond strategy.

BNY Investments, part of the New York-listed financial services company BNY, serves as the investment manager of the underlying assets.

Hybond provides 1:1 exposure to the bond fund, leveraging BNY’s deep credit management expertise while retaining the governance and regulatory oversight of a traditional fund structure.

The offering expands tokenized solutions for investors seeking to move up the credit curve beyond cash-equivalent and government bond products that have largely defined the initial phase of institutional blockchain adoption.

“Tokenization has proven its product market fit with cash-equivalent and treasury strategies. Hybond represents the next step by bringing actively managed corporate bond exposure on-chain within a regulated framework,” says OpenEden founder and chief executive officer Jeremy Ng. “By working with BNY Investments, we are offering qualified investors access to top-tier fixed income strategies combined with the programmability that digital asset infrastructure provides.”

“This launch demonstrates how tokenization can be applied to established investment strategies to broaden the range of investment options on-chain,” adds Doni Shamsuddin, head of Asia -Pacific at BNY Investments. “It deepens our relationship with OpenEden by extending our time-tested fixed income management capabilities into the tokenized market.”

Hybond's debut follows BNY’s appointment as investment manager and primary custodian for the underlying assets of OpenEden's $TBill Fund, a tokenized investment product that provides professional investors with 24/7 on-chain exposure to short-term US treasury bills.