Fun

Moody’s assigns ‘A-bf’ rating for OpenEden’s tokenized fund

News Feed - 2024-06-20 01:06:27

Ana Paula Pereira7 hours agoMoody’s assigns ‘A-bf’ rating for OpenEden’s tokenized fundOpenEden’s TBILL received an “A-bf” rating from Moody’s Ratings on June 19, as more T-bills are going onchain.597 Total views1 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksGlobal credit rating agency Moody’s Ratings has granted an “A-bf” bond fund rating to Hill Lights International Limited, responsible for the issuance of OpenEden’s tokenized United States Treasury bills, known as TBILL Tokens. 


The “A-bf” rating is a high credit rating, suggesting that the bond fund is viewed as having a strong capacity to meet its financial goals. A superior grade would be the classic triple-A (AAA) rating. Moody’s is considered one of the top three global credit rating agencies, alongside Standard & Poor’s and Fitch Ratings.


The fund primarily invests in U.S. Treasury bills or government securities. They are considered a safe investment since they are backed by the U.S. government.


Tokenization is the process of converting rights to an asset into a digital token on a blockchain. It allows assets, ranging from bonds to real estate and artworks, to be traded online.


OpenEden’s TBILL is only available for institutional investors. It has over $36 million in total value locked at the time of writing, promising an estimated annual return of 4.99% while charging a transaction fee of 0.05%. According to the company’s website, the fund allows users to access U.S. Treasurys through smart contracts without restrictions on trading hours or location.Source: Eugene Ng


Moody’s has rated several tokenized bonds in the past, including those issued by the European Investment Bank (EIB).T-bills onchain


Over $1.5 billion in U.S. Treasurys have now been tokenized, marking a significant milestone in the integration of traditional finance with blockchain technology.


Traditional Wall Street players like BlackRock and Franklin Templeton are driving this trend. BlackRock recently launched the USD Institutional Digital Liquidity Fund (BUIDL), which rapidly grew to manage a significant portion of the market with $462.7 million in assets. Franklin’s OnChain U.S. Government Money Fund (FOBXX) holds $357.6 million and is tokenized on both the Stellar and Polygon blockchains.


In April, Woo X Exchange launched what is claimed as the world’s first tokenized T-bills for retail customers, allowing investors to earn yield on USD Coin (USDC) holdings backed by U.S. T-bills.


Magazine: Crypto exposes sudden rift among Democrats months ahead of election# Blockchain# Business# Investments# Cryptocurrency InvestmentAdd reaction

News Feed

Warren Buffett Likens Bitcoin to Gambling and Chain Letters in Recent Interview
Warren Buffett Likens Bitcoin to Gambling and Chain Letters in Recent Interview Finance mogul Warren Buffett, one of the most successful investors in history, discussed bitcoin dur
Dash Nigeria Takes Digital Currency Education Campaign to Regulators and Key Institutions
Dash Nigeria Takes Digital Currency Education Campaign to Regulators and Key InstitutionsWith sophisticated fraud schemes seemingly overwhelming the African crypto market, there is
Solana-Linked $1 Billion DeFi Dream Crushed By SEC Intervention
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitcoin Reclaims Crucial Liquidity Level – No Resistance Left Below ATH
Este artículo también está disponible en español. Bitcoin is trading near the $103,000 level following a highly bullish Friday that has energized the market. The recent s
How to Use a U2F Key to Secure Your Crypto Accounts
How to Use a U2F Key to Secure Your Crypto Accounts Universal 2nd Factor (U2F) is an open standard for strengthening two-factor authentication. It involves the use of a physical
Bank of Russia Pushes to Introduce Liability for Illegal Use of Digital Assets
Bank of Russia Pushes to Introduce Liability for Illegal Use of Digital Assets The monetary authority in Moscow, the Bank of Russia, wants those who use cryptocurrencies against th
Turner Wright8 hours agoRep. Patrick McHenry blames White House for lack of urgency on stablecoin bill negotiationsRepublican leadership has blamed the Biden administration for not having a “sense of urgency” on stab
Defi Lending Sector Experiences Major Shake-Up: 71% of Total Value Locked Evaporates in 12 Months
Defi Lending Sector Experiences Major Shake-Up: 71% of Total Value Locked Evaporates in 12 Months Decentralized finance (defi) has continued to remain deeply ingrained in the crypt
Amaka Nwaokocha2 hours agoBittrex challenges SEC’s authority in crypto lawsuit, seeks dismissalBittrex has aligned its arguments closely with those made by Coinbase.1425 Total viewsListen to article 0:00NewsJoin us on
Reversing layoffs of 2022? Crypto exchanges are adding staff members
Turner Wright4 hours agoReversing layoffs of 2022? Crypto exchanges are adding staff membersKris Marszalek reportedly said Crypto.com planned to “slowly, thoughtfully, and strategically” add new staff members as part
EverLend, First Lending Protocol on Everscale Network, Kicks off Operations With Successful LEND Token Launch
EverLend, First Lending Protocol on Everscale Network, Kicks off Operations With Successful LEND Token Launch sponsored EverLend.appis a secured lending protocol powered by Everscal
Binance adopts USDT price cap to align with local rules in Nigeria
Amaka Nwaokocha52 minutes agoBinance adopts USDT price cap to align with local rules in NigeriaThe price cap blocked accounts of traders attempting to sell above it, leading traders to other exchanges to trade freely wit