Overview
- HYBOND, announced Wednesday, offers a token that mirrors BNY Investments’ Global Short‑Dated High‑Yield Bond strategy with 1:1 exposure to the underlying corporate debt.
- The token is issued by OpenEden Digital Limited, a Bermuda‑regulated entity licensed under the Digital Asset Business Act, while BNY manages the bond portfolio but not the token itself.
- The setup uses offshore structures in Bermuda and the British Virgin Islands to open blockchain‑based access to the bond strategy for qualified investors.
- The release builds on OpenEden and BNY’s prior tokenized U.S. Treasury bill product and shifts tokenization from low‑risk government debt to higher‑yield, actively managed corporate credit.
- Backers say on‑chain issuance can speed settlement and improve price transparency in a sector where over $12 billion of roughly $27 billion in tokenized assets are Treasuries today.