OpenEden Brings High-Yield Bond Fund to BNB Chain with RedStone Partnership

OpenEden has partnered with RedStone to bring its tokenized HYBOND credit fund to BNB Chain. The move marks a significant expansion for HYBOND, which was initially launched on Ethereum.

HUyBond offers investors on-chain access to BNY Investments' Global Short-Dated High Yield Bond strategy through blockchain-based tokens. RedStone will provide verified pricing data and planned settlement infrastructure for DeFi applications.

The companies plan to deploy RedStone Settle, which enables T+0 settlement for tokenized fund collateral by connecting HYBOND holders with KYC-verified liquidity providers. This aims to absorb the fund's multi-day redemption cycle.

Jeremy Ng, Founder and CEO of OpenEden, stated that tokenization is a way to put traditional investment strategies into the hands of on-chain builders. With HYBOND, they want to broaden the range of financial products those builders can create around professionally managed bond exposure.