OpenEden has introduced HYBOND on BNB Chain, thus making it possible for its tokenized credit fund to operate on the blockchain network in addition to Ethereum, where it had previously made its debut.
This is the first instance that HYBOND has made it onto another blockchain since its introduction on Ethereum in April 2026, and the introduction allows qualifying investors and blockchain developers to have access to high-yield bonds on BNB Chain, with RedStone providing the required pricing infrastructure.
OpenEden Expands HYBOND From Ethereum to BNB Chain
HYBOND is a product of OpenEden and is used to provide eligible investors with blockchain-based exposure to the Global Short Dated High Yield Bonds investment strategy of BNY Investments.
In other words, each token of HYBOND provides 1:1 exposure to the fund and does not offer exposure to a bond index price through a synthetic investment product.
The fund management is carried out by BNY Investments, which is under BNY. The latest launch of OpenEden has extended the structure to BNB Chain, which makes the tokenized fund accessible within another blockchain ecosystem.
Investors have to undergo the necessary KYC procedure before they can use HYBOND, and at the same time, the token can be used as a component of the DeFi apps that are allowed.
This development has been complemented by the TBILL tokenized product by OpenEden on BNB Chain. TBILL offers exposure to a U.S. Treasury Bill fund that is managed by BNY, while HYBOND offers access to yield-generating corporate credit.
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BNY Investments Manages the Underlying Bond Fund
The asset backing for HYBOND is related to BNY Investments’ Global Short-Dated High Yield Bond strategy. Therefore, exposure for the token is derived from a conventional bond portfolio instead of an on-chain lending platform.
HYBOND was released by OpenEden in April as the first tokenized product in their range, which enables qualified investors to gain exposure to the BNY Investments strategy via the on-chain route. According to OpenEden, the product was meant to take tokenized investment products away from being limited to cash equivalents and government bonds.
According to Jeremy Ng, founder and CEO of OpenEden, tokenization will make it possible to use traditional approaches to investing for on-chain developers. OpenEden considers HYBOND as a means of developing more financial applications through professionally managed bond exposure.
The launch of the product on BNB Chain will thus add yet another distribution channel for the hybrid product.
RedStone Brings HYBOND Pricing On-Chain
The pricing infrastructure offered by RedStone is one of the most crucial aspects of the BNB Chain implementation.
HYBOND’s NAV, determined by administrators, will be published on the BNB Chain via the oracle feed provided by RedStone. The information will be provided in a format that smart contracts can verify and consume.
It is important because tokenized funds need a reliable valuation system in order to be used by decentralized applications. DeFi systems will require verifiable information about the value of assets before being able to use them for certain purposes.
Recently, RedStone has been involved in expanding its activities within the sphere of tokenized credit markets with deployments for other tokenized credit assets, such as HINC by Neuberger Berman and HYB by NYLIM.
RedStone Settle Could Add T+0 Liquidity
RedStone and OpenEden are set to release RedStone Settle for HYBOND. The solution would allow the facilitation of same-day settlement, called T+0, by bringing together the HYBOND holders with liquidity providers who have undergone the Know Your Customer, or KYC, verification procedure.
Such a solution would enable quicker settlements for the token used in the DeFi environment. For instance, traditional bond funds may have a different redemption schedule compared to the speed of the blockchain-based transaction process.
While a token may be transferred from one wallet to another instantly, the actual redemption of the underlying fund interest might require some time.
With RedStone Settle, however, the company plans to create a solution for overcoming the gap between the two processes.
According to RedStone, the combination of verified NAV and same-day settlement can push tokenized credit from an off-chain to an on-chain financial application.
Tokenized Credit Expands Beyond Treasuries
HYBOND’s appearance on BNB Chain also highlights an overall shift in the tokenized real-world assets space.
Previous institutional approaches to tokenizing financial instruments have been largely centered around US Treasuries and other cash equivalents such as money-market funds. The introduction of HYBOND provides a way to access short-term high-yield corporate credit and add a different risk/return profile to on-chain instruments.
In turn, the instrument represents one of the attempts to place more traditional financial products onto public blockchain infrastructures without changing the mechanisms behind them. Tokenized credit could become another kind of on-chain asset to be utilized as collateral, etc., in DeFi protocols under certain product limitations.
BNB Chain RWA Market Nears $5.7 Billion
The launch of HYBOND occurs as the market for real-world assets that have been tokenized by BNB Chain is seeing increasing traction. According to RWA.xyz data, the value of RWA on the network hit around $5.60 billion in September 2026, up from $509.72 million in the previous year.
In addition to tokenized stocks and Treasury products, BNB Chain has seen an increase in its RWAs. The launch of HYBOND will see high-yield credit being added to the tokenized fixed income offered on OpenEden.
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