Global credit rating agency Moody's Ratings has assigned an "A-bf" bond fund rating to Hill Lights International Limited - the regulated fund that tokenized OpenEden's U.S. issues T-bills.

The rating places OpenEden's TBILL tokens within the "investment-grade" quality category. According to Moody's Ratings and Symbols Definitions: "Money market and bond funds rated A... are considered to possess many favorable investment characteristics and are considered upper-middle investment vehicles."

An industry first 

With tokenized real-world assets (“RWA”) enjoying great popularity, T-bills in particular have proven highly sought after by many issuers, including Franklin Templeton's “BENJI” token and BlackRock's rival “BUIDL” token.

Other major issuers of tokenized T-Bills include Ondo Finance, Maple Finance, Matrixport and Backed Finance, according to a review of tokenized U.S. T-Bills published a “Crypto Treasury Management” guide for Web3 CFOs late last year.

But OpenEden is the first and only tokenized US T-Bill product worldwide to receive a credit rating.