Finblox Teams Up With OpenEden to Launch Tokenized US Treasury Bill

The collaboration introduces tokenized rights to U.S. T-Bills, opening doors to a trillion-dollar market for web3 users.

Photo for the Article - Finblox Teams Up With OpenEden to Launch Tokenized US Treasury Bill

Editing by Nathaniel Cajuday

  • The collaboration between Finblox and OpenEden introduces tokenized rights to US Treasury Bills (T-Bills).
  • Through the ‌integration with OpenEden, Finblox ensures real-time visibility into the assets backing the tokenized T-Bills, promoting radical transparency within the ecosystem. 
  • Tokenizing U.S. T-Bills brings various advantages for Finblox users, such as enabling fractional ownership, allowing investors to receive yields in smaller amounts, and offering flexibility in investment strategies.

Set to introduce tokenized rights to U.S. Treasury Bills (T-Bills), crypto savings platform Finblox joined forces with OpenEden, which operates the smart contract vault to access the U.S. T-Bills.

Finblox x OpenEden Collaboration

Photo for the Article - Finblox Teams Up With OpenEden to Launch Tokenized US Treasury Bill
Peter Hoang , Co-Founder of Finblox

According to Finblox, the collaboration is expected to open doors to a trillion-dollar market for web3 users, granting access to an AAA-rated financial asset.

Moreover, the platform claimed that by partnering with OpenEden, it will be able to bridge the gap between traditional finance and decentralized finance (DeFi) and bring new investment opportunities to over 300 million crypto users around the globe. 

“T-Bills have long been recognized as the most blue-chip financial asset, offering safe returns and serving as a benchmark for global financial markets. This allows users to seamlessly invest in tokenized T-Bill rights directly through the Finblox platform,” Finblox explained. 

This was seconded by Finblox CEO Peter Hoang, who emphasized that the launch of tokenized U.S. T-Bills would empower web3 users with access to a trillion-dollar market: 

Photo for the Article - Finblox Teams Up With OpenEden to Launch Tokenized US Treasury Bill
Qin En Looi, Partner at Saison Capital

“This integration represents a significant step forward in democratizing finance and creating new opportunities for users to diversify their portfolios in a more transparent and efficient manner.”

Meanwhile, for OpenEden Co-Founder Eugene Ng, his team’s expertise in tokenizing real-world assets within a regulatory-compliant framework will help Finblox ensure real-time visibility into the assets backing the $TBILL.

Ng also noted that through the OpenEden $TBILL Vault, Finblox and its other partners have the capability to provide users with low-risk cash management products that generate consistent and sustainable yields from the U.S. Treasuries.

Consequently, Qin En Looi of Saison Capital, an investor in both companies, expressed his optimism toward the collaboration, adding that it will create a new paradigm in the crypto space and an unparalleled entry to a market worth trillions of dollars, providing users with a combination of transparency and trust.

“This collaboration unlocks unprecedented access to a trillion-dollar market, offering users transparency and trust. Beyond portfolio diversification, it offers the potential for more reliable and safer yields backed by the blue-chip financial asset,” the Saison Capital representative concluded. 

U.S. Treasury Bills (T-Bills)

U.S. Treasury Bills are short-term debt securities issued by the United States Department of the Treasury. Because of being backed by the national government, it is considered one of the safest financial instruments available on the market.

T-Bills have a maturity period of one year or less, typically ranging from a few days to 52 weeks. Investors purchase T-Bills at a discount from their face value and receive the full face value when the bills mature. 

These securities are highly liquid and serve as a benchmark for short-term interest rates. T-Bills are widely regarded as a blue-chip financial asset and are used by investors as a safe haven and a means of preserving capital.

Recent Finblox News

Recently, Finblox released “Bloxies,” a collection of 10,000 distinct AI robots as profile picture (PFP) NFTs on the blockchain. For this, Finblox collaborated with various non-fungible token (NFT) communities, including Philippine-based Web3PH. 

Last May, Hoang expressed that the Philippines, alongside Vietnam and Malaysia, have the highest crypto adoption rates due to the pre-existing efforts of crypto firms as well as the play-to-earn and NFT craze.

This article is published on BitPinas: Finblox Teams Up With OpenEden to Launch Tokenized US Treasury Bill

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.

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