Stablecoins are a significant component of the crypto market, with approximately $350 billion in circulation. However, the issue lies in the fact that most stablecoins do not generate any interest for the holders; instead, all the interest goes to the issuers. Jeremy Ng, co-founder of OpenEden, believes that this is a problem that can be easily rectified.
Ng highlighted that stablecoin holders should have the opportunity to earn a risk-free yield in a seamless and high utility manner. To address this issue, OpenEden has introduced a tokenized money market fund, a traditional finance product brought onto the blockchain.
The choice of starting with money market funds is based on their fundamental attributes. Ng emphasized that money market funds are the most liquid instrument globally and inherently risk-free. OpenEden has tokenized the actual underlying product managed by Bank of New York, ensuring that the yield is not artificially inflated by token incentives.
OpenEden is going beyond money market funds with their platform, OpenEden Atlas, which enables asset managers, stablecoin issuers, and asset owners to tokenize their products on-chain. The protocol has expanded into high-yield credit and multi-strategy yield products, with plans to delve into public credit such as investment grade bonds and emerging market debt.
Ng highlighted the importance of tokenizing fixed income assets, as they form a significant portion of traditional portfolio constructions. OpenEden is collaborating with prominent asset managers to tokenize fixed income assets and bring them onto the blockchain.
Ultimately, OpenEden’s goal is to facilitate the migration of traditional portfolio constructions onto the blockchain, ensuring that the fixed income layer transitions seamlessly. By tokenizing a variety of assets and enabling risk-free yields for stablecoin holders, OpenEden aims to revolutionize the way assets are managed in the crypto ecosystem.
This article was originally published by TheStreet on April 9, 2026, and appeared in the Innovation section. For more information, visit TheStreet’s website.
