Cryptocurrencies

Global credit rating agency Moody’s Ratings assigned a rating to the bond fund

Global credit rating agency Moody’s Ratings has assigned a bond fund rating of ‘A-bf’ to Hill Lights International Limited, which is responsible for the issuance of OpenEden tokenized US Treasury bonds, known as TBILL tokens.

An “A-BF” rating is considered a high credit rating, indicating that the bond fund is considered to have a strong ability to achieve its financial objectives. The higher rating would be the Classic Triple A (AAA) rating. Moody’s is considered one of the three largest credit rating agencies in the world, along with Standard & Poor’s and Fitch.

The Fund invests primarily in U.S. Treasury or government securities. They are considered a safe investment since they are backed by the US government.

Tokenization is the process of converting rights to an asset into a digital token on the blockchain. It allows you to trade assets, from bonds to real estate and artwork, online.

OpenEden’s TBILL is only available to institutional investors. It has a total value of over $36 million at the time of writing and promises an estimated annual return of 4.99% while charging a 0.05% transaction fee. According to the company’s website, the fund allows users to access U.S. Treasury securities through smart contracts without restrictions on trading times or location.

Source: Eugene Ng

Moody’s has rated several token bonds in the past, including those issued by the European Investment Bank (EIB).

Chained Treasury Bills

More than $1.5 billion in U.S. Treasury securities have now been tokenized, marking a significant milestone in the integration of traditional finance with blockchain technology.

Traditional Wall Street players such as BlackRock and Franklin Templeton are leading the trend. BlackRock recently launched the US Dollar Institutional Digital Liquidity (BUIDL) fund, which has grown rapidly to manage a significant portion of the market with $462.7 million in assets. The US government fund Franklin OnChain (FOBXX) has $357.6 million and is tokenized on the Stellar and Polygon blockchains.

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