Tokenized US Treasury bills are entering emerging markets

Users can withdraw deposits after waiting for five days


Deacons docs/Shutterstock modified by Blockworks


A way to earn sustainable yield has landed in Southeast Asia.

Cryptocurrency asset management platform Finblox is bringing tokenized US Treasurys to emerging markets across Southeast Asia.

The Singapore-based startup’s self proclaimed “superapp” will be partnering with OpenEden to bring a smart contract vault that provides 24/7 access to tokenized Treasury bills.

The plan is for the product to be made available to customers in the Philippines, Indonesia, India and Vietnam.  

A significant portion of the unbanked population live in emerging markets, Peter Hoang, CEO of Finblox told Blockworks. The partnership ought to offer a safer, less risky mechanism to offer sustainable yield, he said. 

“Treasury bills are considered to be one of the safest assets on earth,” Hoang said. “OpenEden is an institution that is accredited and licensed by the Monetary Authority of Singapore, and are aligned with our vision of democratizing finance and building in a safe and transparent way.”

Hoang said tokenized Treasurys will give international investors the opportunity and flexibility to invest in safe and secure assets at smaller clips. 

OpenEden’s Treasury bill vault will be integrated with Chainlink and will provide on-chain evidence that its tokens are backed by actual assets. 

“Through the OpenEden TBILL Vault, our partners can offer low-risk cash management products that generate sustainable yields from U.S. Treasuries to their users,” Eugene Ng, co-founder of OpenEden, said in a statement.

T-bill tokens will not be transferable, but users can withdraw the token from the vault after five days to avoid a duration mismatch.

“We’ve seen the downfall of many players last year because of unsustainable practices. This has caused a lot of mistrust in the entire crypto space… we believe that [US Treasurys] will be one of the products that will regain trust of users over time,” he said.

Holding tokenized T-bills still comes with risks. 

The first, albeit highly unlikely, risk is government default. The second is smart contract risks.

“Usually 95% of assets are deployed, only 5% is held in a vault for withdrawals, so that 5% is subject to smart contract riks,” he said.

As Finblox is a regulated entity, it requires customers to complete two levels of regulation before being eligible to purchase Treasurys: ID verification and proof of address.

“We determine the limits for deposits and withdrawals based on the verifications,”  Hoang said.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Top Icon.png


Osmosis thrived in H2 2023 on the back of increased DeFi activity deriving from recently launched Cosmos-related projects and better market conditions. With new value accrual mechanisms for the native token, Osmosis is well-positioned to continue its strong performance in 2024.



Do Kwon may miss the start of the March 25 trial in the SEC’s case against the former executive and Terraform Labs


Riot Platforms bought 31,500 more mining machines while CleanSpark has begun operating in Mississippi


Dencun was activated on all testnets, a blog post Tuesday said


Hut 8 also announced it broke ground on a Texas mining site


Uniswap aims to become a “complete platform for swapping” following its latest product releases


Continued demand for bitcoin ETFs coupled with greater demand for bitcoin from exchanges is contributing to price moves, analysts say