OpenEden Launches T-Bill Vault to Provide Exposure to Tokenized Treasury Bills
According to reports, Jeremy Ng, former Asia Pacific head of Gemini, and Eugene Ng, Asia Pacific business development head, have launched a new encryption startup called OpenEden t
According to reports, Jeremy Ng, former Asia Pacific head of Gemini, and Eugene Ng, Asia Pacific business development head, have launched a new encryption startup called OpenEden to provide exposure to Tokenized Treasury Bills (T-Bills). OpenEden was established early last year and launched its first product today. This product is known as the OpenEden T-Bill vault, allowing USDC stable coin holders to mint TBILL tokens and earn profits.
Former Gemini Executive Launches Tokenized T-Bill Vault OpenEden
As the digital space continues to gain momentum, financial instruments are also evolving. The age-old Treasury Bills (T-Bills) have now been tokenized for the crypto space. OpenEden is a new encryption startup that aims to provide exposure to Tokenized Treasury Bills.
What Are Treasury Bills?
A Treasury Bill, or T-Bill, is a short-term investment issued by the United States government to fund its operations. The T-Bill is issued for a duration of one year or less and guarantees a fixed yield for the investor.
OpenEden: The Company Overview
In early 2020, Jeremy Ng, the former Asia Pacific head of Gemini, and Eugene Ng, the Asia Pacific business development head, started OpenEden. The company aims to provide exposure to Tokenized Treasury Bills, making it easier for investors to digitalize their investments.
OpenEden T-Bill Vault
OpenEden recently launched its first product, the OpenEden T-Bill vault. This product allows USDC stable coin holders to mint TBILL tokens and earn profits. The TBILL token represents the ownership of a treasury bill via the blockchain.
Minting TBILL Tokens
The process of minting TBILL tokens through the OpenEden T-Bill vault involves three main steps:
1. Purchasing USDC stable coins
2. Depositing USDC into the OpenEden vault
3. Minting TBILL tokens and earning profits
Advantages of TBILL Tokens
1. Accessibility: The OpenEden T-Bill vault provides access to treasury bills to the crypto space, making it more accessible to investors.
2. Transparency: The TBILL tokens are issued over the blockchain, which guarantees transparency and security.
3. Fractional Ownership: With the TBILL token, investors can own a fraction of the treasury bill, which makes it easier to trade.
Conclusion
OpenEden, the new encryption startup founded by former Gemini executives, is making it easier for investors to invest in Treasury Bills. The company’s first product, the OpenEden T-Bill vault, allows USDC stable coin holders to earn profits by minting TBILL tokens. This development is an interesting step towards creating a more digitalized investment landscape.
FAQs
1. What are the advantages of investing in T-Bills?
T-Bills provide a secure and stable investment option with a guaranteed fixed yield.
2. What are the advantages of tokenizing T-Bills?
Tokenizing T-Bills adds accessibility, transparency, and fractional ownership to the investment.
3. What is OpenEden’s vision for the future?
OpenEden aims to create a more digitalized investment landscape by enabling access to traditional financial instruments through the blockchain.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/20226/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
What Mining Machines Are Used for XHV (Recommended Chia Mining Machines)
What mining machines are used for XHV? According to official sources, currently,
-
Catherine Coley Hires James McDonald as Attorney to Respond to CFTC’s Investigation into Currency Security: What You Need to Know
According to reports, people familiar with the matter disclosed that Catherine Coley, the former CEO of Binance. US, has hired James McDonald, the founder of Sullivan&Cromwell, who
-
ClearSpark’s Strategic Mining Machine Purchase for Increased Bitcoin Mining Capacity
It is reported that ClearSpark, a Bitcoin mining enterprise, purchased 20000 Bitland mining machines at a price lower than the market price. According to Clean…
-
USDC-USD Trading Pair and Its Impact on Aave and Compound
It is reported that according to Kaiko’s research data, the trading volume of USDC-USD trading pair hit a record high of US $600 million on March 11, with Kraken as the main trading partner. In addition, Aave and Compound received more than US $2 billion in repayment on March 11, most of which were USDC. Kaiko: The market depth of Coinbase in March halved, and the currency security fell by 13% Analysis based on this information:The trading volume of USDC-USD trading pair had a significant increase on March 11, reaching a record high of US $600 million according to Kaiko’s research data. This increase in trading volume was primarily due to Kraken being the main trading partner. USDC is a stablecoin pegged to the US dollar, which means one USDC is equivalent to one USD, making it less volatile than other cryptocurrencies. Furthermore, Aave and Compound received more than US $2 billion in repayment on March 11, and most of…
-
Bitlinex Launching a New Cryptocurrency: Blur (BLUR)
On February 24, according to the official announcement, Bitlinex announced the launch of Blur (BLUR), the deposit will be opened at 11:00 (UTC) on February 23,…
-
Powell’s Keynote Speech on Ending “Too Big to Fail”
It is reported that the Chairman of the Federal Reserve, Powell, delivered an Ending “Too Big to Fail” keynote speech at the 2013 meeting of the International Bankers Association in Washington. In his first speech as a member of the Federal Reserve, he discussed how to deal with bank runs. In January 1991, there was the third largest bank failure in the history of the United States. The financial system and the overall economy were under great pressure. 45 banks were closed and 300000 accounts were affected. At that time, the problem was that either the Federal Deposit Insurance Corporation of the United States protected all bank depositors without considering the deposit insurance limit, or it might face a more severe panic run. At last, the Federal Reserve decided to ignore the maximum insurance amount and protect the full amount in each account. Powell proposed to protect the full amount of each account in the collapse of the third largest…
-
Copper.com Appoints Stefano Maestri as CTO, Sam Goh as CFO, and Sam Brown as General Counsel
According to reports, digital asset custody provider Copper.com has announced the appointment of Stefano Maestri as the Chief Technology Officer, Sam Goh as the Chief Financial Off
-
Bedlock Upgrade: Two-Step Withdrawal Process for Optimism Main Bridge
On March 23, OP Labs said on Twitter that the Bedlock upgrade will introduce a new two-step withdrawal process for the Optimism main bridge, which will improve its security and mak
-
UBS Plans to Cut up to 30% of its Workforce Following Credit Suisse Merger
On April 2nd, according to foreign media reports, a senior manager of UBS revealed that UBS plans to cut 20% to 30% of its workforce after acquiring Credit Suisse, potentially cutt
-
Breaking News: Do Kwon, Terra’s Founder, Arrested According to Reports from INTERPOL
According to reports, INTERPOL has confirmed that the suspect arrested by the Montenegrin authorities is Do Kwon, the founder of Terra.
INTERPOL has identified the suspect arrested -
Bitcoin network difficulty expected to increase in the next adjustment
It is reported that according to BTC.com data, the Bitcoin network difficulty is expected to increase by 4.65% to 40.98 T in the next adjustment. If it is carr…
-
New World Group’s 2023 Innovation Challenge: A Platform For Sustainable Development And Artificial Intelligence
On April 15th, it was announced that New World Group will hold the 2023 New World Innovation Challenge, with themes including sustainable development and artificial intelligence. I
-
Klaytn’s Upgrade Raises the Bar for Baobab/Crypress Nodes
On March 17th, it was announced that Klaytn has released Klaytn v1.10.2, which includes a hard fork upgrade. All Baobab/Crypress nodes must complete the upgrade before the target block height. Klaytn v1.10.2 has been released and is expected to complete the hard fork upgrade in April Analysis based on this information:Klaytn, a blockchain platform that aims to achieve mass adoption of blockchain by enabling service providers to develop and operate user-friendly blockchain applications, announced on March 17th that it had released Klaytn v1.10.2, which includes a hard fork upgrade. This move is expected to improve Klaytn’s protocol and enhance network stability, security, and efficiency. A hard fork upgrade is a modification to the software governing a blockchain that mandates all nodes on the network to upgrade to the latest version; any nodes that fail to upgrade are unable to participate in network consensus. This is a crucial step in the life cycle of a blockchain, as it allows for the…
-
StarkWare, the pioneer of cryptographic protocols, unveils its latest release, Cairo 1.0 Alpha, with new language functions.
On February 24, StarkWare released Cairo 1.0 Alpha. 3, which includes updates such as adding new language functions. In addition, the team expects that the con…
-
HSBC Holdings Eyed as a Potential Bidder for Silicon Valley Bank in the UK
It is reported that HSBC Holdings has become a potential bidder for the British branch of Silicon Valley Bank. At present, the British government is trying to extricate the bank at the last moment. HSBC Holdings may be interested in bidding for Silicon Valley Bank UK Branch Analysis based on this information:HSBC Holdings, one of the largest banking and financial services companies in the world, is reportedly considering a bid for the British branch of Silicon Valley Bank. According to sources, this move is in line with the bank’s strategy to boost its technology and innovation capabilities amid increasing competition from fintech startups. The potential acquisition comes at a time when the British government is seeking to extricate Silicon Valley Bank from the UK market, citing concerns over the bank’s financial stability. This move could prompt other contenders to join the race to acquire the bank, which has a strong presence in the US and has been operating in the…
-
Binance AI Unleashes Bicasso Beta to Create NFTs from User’s Ideas
On March 1, CZ announced on social media that the Bicasso Beta version of the Binance AI product is now online. Bicasso can use AI technology to generate NFT f…