OpenEden Draws New Backers as Tokenized Treasury Demand Grows

OpenEden has added a group of strategic investors to its cap table to help scale its tokenized real-world asset platform, but declined to disclose the size, valuation or structure of the deal.

The round, announced Tuesday in a statement, includes participation from Ripple, Lightspeed Faction, Gate Ventures, FalconX, Anchorage Digital and other trading and infrastructure firms across the US, Europe and Asia.

A company spokesperson said the raise was intentionally positioned as a “strategic” round focused on bringing partners with institutional liquidity and tokenization infrastructure into the business, rather than on announcing a headline monetary amount.

“As tokenization scales in adoption, institutions and protocols are seeking trusted, compliant infrastructure to bring traditional assets on-chain," OpenEden founder and CEO Jeremy Ng said in a statement. "This funding round boosts our capacity to provide regulated, market-ready products that fit both traditional and decentralized finance standards.”

OpenEden provided updated usage figures after being asked for further detail. The firm said USDO, its yield-bearing stablecoin backed by tokenized U.S. Treasuries, peaked at just under $300 million in supply during a mid-2025 incentive program and has since normalized to just under $100 million. TBILL, OpenEden’s tokenized U.S. Treasuries fund, now manages roughly $115 million in assets, the company said.

Industry backers framed the investment as a bet on institutional adoption of tokenized Treasuries. “As regulated financial assets move onchain, institutional investors are looking for products that offer compliance, reliability, and the same controls they expect in traditional markets.,” Markus Infanger, SVP of RippleX, said. “We’re pleased to support their growth as assets like tokenized T-bills emerge as practical ways for institutions to begin engaging with onchain markets.”

OpenEden said the new relationships will help it develop additional tokenized funds and structured products and broaden integrations for USDO, including multi-currency and cross-border settlement capabilities. The company gave no timeline for those launches.

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