OpenEden introduced HYBOND, the first tokenized product linked to BNY Investments’ global short-term high-yield bond strategy, expanding the reach of institutional-grade investments available on-chain.
The new token offers qualified investors 1:1 exposure to a managed portfolio of short-term corporate bonds overseen by BNY Investments, a unit of BNY.
The product introduces higher yielding fixed income exposure to a market segment that has until now been dominated by tokenized cash equivalent and cash strategies. Data from rwa.xyz shows that more than $12 billion of the more than $27 billion in the real-world token asset market is U.S. Treasury debt.
HYBOND is issued by OpenEden Digital Limited, a Bermuda regulated entity licensed under the Digital Asset Business Act, according to a press release issued on Wednesday.
Although BNY Investments serves as the investment manager for the underlying bond portfolio, it is not directly involved in the token itself, which is managed and issued by OpenEden.
“Tokenization has proven its product market fit for treasury and treasury strategies. HYBOND represents the next step in providing exposure to actively managed corporate bonds on-chain within a regulated framework,” said Jeremy Ng, CEO of OpenEden.
BNY and OpenEden have previously collaborated on TBILL, a tokenized US Treasury bond product. HYBOND builds on this relationship by venturing into riskier credit instruments, which can attract investors seeking a higher yield.
At the end of 2025, BNY oversaw $2.2 trillion in assets under management and more than $59 trillion in assets under custody.
