OpenEden has introduced HYBOND, the first tokenized product linked to BNY Investments’ global short-term high-yield bond strategy, expanding the scope 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-yield fixed income exposure to a market segment that has until now been dominated by treasury strategies and tokenized cash equivalents. Data from rwa.xyz shows that more than $12 billion of the more than $27 billion in the real-world tokenized asset market is US 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 acts as investment manager for the underlying bond portfolio, it has no direct stake in the token itself, which is managed and issued by OpenEden.
“Tokenization has proven that its product market fits with treasury and cash equivalent strategies. HYBOND represents the next step in bringing exposure to actively managed corporate bonds on-chain within a regulated framework,” said Jeremy Ng, CEO of OpenEden.
BNY and OpenEden previously collaborated on TBILL, a tokenized US Treasury bill product. HYBOND builds on that relationship by introducing riskier credit instruments, which may attract investors seeking higher yield.
At the end of 2025, BNY was overseeing $2.2 trillion in assets under management and more than $59 trillion in assets under custody.
