BNY investments’ short-dated bond strategy tokenized by Bermuda-regulated OpenEden

OpenEden has introduced HYBOND, the first tokenized product tied to BNY Investments’ Global Short-Dated High-Yield Bond strategy, expanding the scope of institutional-grade investments available onchain.

The new token gives qualified investors 1:1 exposure to a managed portfolio of short-dated corporate bonds overseen by BNY Investments, a unit of BNY.

The product introduces higher-yield fixed income exposure to a market segment that has so far been dominated by tokenized cash-equivalent and treasury strategies. Data from rwa.xyz shows over $12 billion of the more than $27 billion in the tokenized real-world asset market are 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 on Wednesday.

While BNY Investments serves as the investment manager for the underlying bond portfolio, it has no direct involvement in the token itself, which is managed and issued by OpenEden.

“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,” said Jeremy Ng, OpenEden’s CEO.

BNY and OpenEden previously collaborated on TBILL, a tokenized U.S. Treasury bill product. HYBOND builds on that relationship by pushing into riskier credit instruments, which may appeal to investors seeking greater yield.

As of year-end 2025, BNY oversaw $2.2 trillion in assets under management and more than $59 trillion in assets under custody.