OpenEden, a regulated tokenization platform with $250M+ combined assets under management at the time of writing, is tapping the RedStone product suite for its tokenized BNY Mellon Global Short-Dated High Yield Bond fund (“HYBOND”) on BNB Chain. RedStone’s price feed grants the fund a core data backbone, while RedStone Settle, to be integrated shortly, will unlock instant redemptions and liquidations, enabling the asset to work in DeFi.
TL;DR
- HYBOND grants the qualified holders 1:1 tokenized exposure to BNY Mellon Global Short-Dated High Yield Bond, the first BNY bond fund to be brought onchain.
- OpenEden, the regulated tokenization platform behind the fund, is bringing HYBOND on BNB Chain in its first expansion since the launch on Ethereum.
- The underlying fund is a $2.4B institutional credit strategy with a nearly 10-year track record, investing in a globally diversified portfolio of short-duration, high-yield corporate bonds that has consistently outperformed its SOFR cash benchmark.
- RedStone’s feed carries HYBOND’s price onto BNB Chain and paves the way for HYBOND to serve as collateral in DeFi protocols on BNB.
- Next on the line: RedStone Settle integration for HYBOND, unlocking T+0 liquidations and redemptions.
HYBOND Comes to BNB Chain
OpenEden, a regulated tokenization platform with $250M+ combined assets under management at the time of writing, brought BNY Mellon Global Short-Dated High Yield Bond strategy onchain as HYBOND, a higher-yield alternative to the more traditional tokenized funds focusing on T-bills. BNY Mellon Global Short-Dated High Yield Bond Fund is a $2.4B institutional credit strategy with a nearly 10-year track record, investing in a globally diversified portfolio of short-duration, high-yield corporate bonds that has consistently outperformed its SOFR cash benchmark. RedStone’s price feed now powers the tokenized fund’s NAV oracle on BNB Chain in the first integration with OpenEden.
HYBOND is issued by OpenEden Digital Limited, a Bermuda-registered Segregated Accounts Company licensed by the Bermuda Monetary Authority under a Class F Digital Asset Business Licence, and is available only to eligible institutional investors. BNY Investments manages the underlying strategy, while the fund shares backing HYBOND are held and custodied directly with BNY.
RedStone’s infrastructure carries the fund’s net asset value (NAV) onto BNB Chain so a wallet, protocol, or counterparty can confirm it’s genuinely the administrator’s number, unaltered. Next, OpenEden will integrate RedStone Settle for HYBOND, which will unlock T+0 liquidations and redemptions for the fund’s token.
“We see tokenization as a way to put traditional investment strategies into the hands of on-chain builders. With HYBOND, we want to broaden the range of financial products those builders can create around professionally managed bond exposure, and RedStone provides the verifiable valuation data they need to bring them to market.”
— Jeremy Ng, Founder and CEO of OpenEden
Inside HYBOND’s Short-Dated High Yield Strategy
Most tokenized fixed income so far has been cash-equivalent: Treasury bills, government money market funds, overnight repo. HYBOND is different. It holds short-dated, high yield bonds, which typically offer higher yields than investment-grade corporate bonds and Treasuries because they carry more credit risk.
HYBOND launched on Ethereum earlier in 2026. RedStone now powers HYBOND’s NAV oracle after its launch on BNB Chain, serving as the core asset lifecycle infrastructure layer.
Why a Credit Fund’s Price Needs a Live Feed
A tokenized Treasury fund is easy to price. It holds government debt, so its value climbs steadily as interest accrues, or it holds at $1.00 and pays yield through new shares. HYBOND doesn’t work like that. Its price moves with the high-yield credit market, where spreads widen and narrow, and issuers get upgraded or downgraded.
So the only number that exists is the one the administrator strikes each day. There’s no secondary market price to check it against. RedStone’s feed delivers that number onchain in a verified and smart contract-readable way.
HYBOND is the third tokenized credit fund RedStone has priced this year, after Neuberger Berman’s HINC (issued by Securitize) and NYLIM’s HYB (issued by Centrifuge). All three sit outside the cash-equivalent RWA category that dominated tokenization until now, and HYBOND is the first of the three built on OpenEden’s platform.
Frequently Asked Questions
What is HYBOND?
HYBOND is OpenEden’s tokenized version of BNY Mellon Global Short-Dated High Yield Bond Fund, giving eligible institutional investors onchain exposure to a short-dated, high-yield corporate bond strategy. OpenEden issues it through its Bermuda-registered Segregated Accounts Company licensed by the Bermuda Monetary Authority.
What does RedStone unlock for HYBOND?
RedStone delivers HYBOND’s price onto BNB Chain. The fund’s administrator strikes the value off-chain; RedStone carries that figure onto the chain in verifiable form. HYBOND is also getting T+0 liquidations and redemptions via RedStone Settle, RedStone’s auction-based infrastructure for instantly liquidating tokenized fund collateral in DeFi.
How does RedStone Settle work?
RedStone Settle runs an auction between KYC-ied solvers, who offer competing bids to acquire the position. The winning solver provides immediate liquidity and redeems the real-world assets through their standard redemption mechanism. The auction takes place in less than a second; a successful outcome is resolved atomically.
About RedStone
RedStone is the data layer for institutional DeFi, delivering secure, low-latency price feeds for digital assets, RWAs, stablecoins, LSTs, LRTs, and Bitcoin LSTs across 110+ chains. Trusted by 200+ clients, including Securitize, Morpho, Pendle, Spark, Ether.fi, Ethena, Lombard, Venus, and Compound, RedStone powers lending, stablecoins, perpetuals, and tokenized asset markets with custom pricing infrastructure built for complex onchain systems. RedStone provides data for tokenized products including BlackRock’s BUIDL, Apollo ACRED, and Hamilton Lane SCOPE. Zero mispricing events. 100% uptime.
About OpenEden
OpenEden operates a leading regulated tokenization platform, renowned for its unmatched focus on regulatory standards and advanced financial technology. Founded in 2022, OpenEden bridges traditional and decentralized finance by providing, through its regulated entities in Bermuda and the BVI, secure, transparent, and compliant on-chain access to tokenized assets. OpenEden is tokenizing global finance with a core focus on compliance and innovation. To learn more, visit www.openeden.com.
