S&P Global’s ‘AA+’ Rating Cements OpenEden’s TBILL Fund as the Gold Standard for Tokenized Treasuries

Traditional finance and blockchain proceed to converge and OpenEden’s newest milestone reveals simply how far the two worlds have come collectively.

S&P Global Ratings has awarded OpenEden’s BNY-managed TBILL Fund an “AA+f” fund credit score high quality score (FCQR) and an “S1+” fund volatility score (FVR), each representing S&P’s highest rankings for credit score high quality and stability.

The recognition locations OpenEden’s TBILL Fund amongst the most institutionally trusted merchandise in the tokenized Treasury market, reaffirming its skill to ship regulated, yield-bearing publicity to U.S. Treasuries by means of blockchain infrastructure.

Rated by Two of the World’s Leading Agencies

The new score follows the TBILL Fund’s earlier “A” rating from Moody’s, making it the tokenized U.S. Treasuries fund to be rated by each S&P Global and Moody’s, two of the world’s main credit score companies.

S&P’s “AA+f” score highlights the fund’s very sturdy capability to satisfy its obligations and the high credit score high quality of its underlying short-dated U.S. Treasury securities. Its “S1+” volatility score—the highest on S&P’s scale—displays extraordinarily low sensitivity to market and rate of interest actions.

Together, these rankings set up the TBILL Fund as one among the most secure, clear, and institutionally recognised devices for tokenized mounted earnings publicity.

Institutional Foundations with BNY

In August 2025, OpenEden strengthened the TBILL Fund’s institutional confidence by means of a collaboration with The Bank of New York Mellon (BNY), the world’s largest custodian financial institution, with $52 trillion in property underneath custody.

Under this partnership, BNY holds the TBILL Fund’s underlying property in custody, whereas BNY Mellon Investment Management (BNY IM), a top-ten international asset supervisor with $2 trillion in AUM, serves as the fund’s sole funding supervisor. This construction combines the safeguards and fiduciary oversight of conventional finance with the transparency and effectivity of on-chain structure.

Accelerating Institutional and DeFi Adoption

Since its launch in 2023, OpenEden’s TBILL Fund has grown its complete worth locked (TVL) greater than 1,000-fold, reaching $264 million in property underneath administration as of September 2025. This progress displays the accelerating demand, from each institutional and DeFi contributors, for compliant, yield-bearing property backed by U.S. authorities securities.

“Receiving S&P Global’s rankings alongside Moody’s is a big milestone that reinforces TBILL’s place as the gold normal for tokenized treasuries,” mentioned Jeremy Ng, Founder and CEO of OpenEden. “Dual rankings from two of the world’s most revered companies present establishments with the assurance they should take part in on-chain finance with confidence, figuring out they’re partaking with a regulated, clear, and investment-grade construction.”

Setting the Standard for On-Chain Credibility

As regulators and establishments proceed to discover how conventional monetary merchandise can migrate to blockchain, OpenEden’s dual-rated TBILL Fund affords a tangible instance of institutional-grade tokenization in follow, combining compliance, custody, and composability inside a single framework.

With S&P Global and Moody’s rankings, BNY-managed oversight, and robust adoption momentum, OpenEden’s TBILL Fund continues to set the benchmark for belief and transparency in the subsequent technology of digital fixed-income merchandise.

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