OpenEden has launched HYBOND, the first tokenized product tied to BNY Investments’ global short-term high-yield bond strategy, expanding the scope of institutional-grade investing on the chain.
The new token gives accredited investors 1:1 exposure to a managed portfolio of short-term corporate bonds overseen by BNY Investments, a division of BNY.
The product introduces higher-yielding fixed income exposure to a market segment hitherto dominated by tokenized cash equivalents and treasury strategies. Data from rwa.xyz shows that of the more than $27 billion in assets in the tokenized real-world asset market, more than $12 billion is in U.S. Treasury bonds.
According to a press release on Wednesday, HYBOND is issued by OpenEden Digital Limited, a Bermuda regulated entity licensed under the Digital Assets Business Act.
While BNY Investments serves as the investment manager for the underlying bond portfolio, it is not directly involved in the tokens themselves, which are managed and issued by OpenEden.
Jeremy Ng, CEO of OpenEden, said: “Tokenization has proven its product market fit for cash equivalents and financial strategies. HYBOND represents the next step in bringing actively managed corporate bond risk on-chain within a regulated framework.”
BNY and OpenEden have previously collaborated on TBILL, a tokenized U.S. Treasury bill product. HYBOND builds on this relationship by launching riskier credit instruments, which may appeal to investors looking for higher yields.
As of the end of 2025, New York Bank’s assets under management were US$2.2 trillion and assets under custody exceeded US$59 trillion.