Product Structuring

Product Structuring

Issuing Entity

HYBOND is issued by OpenEden Digital Limited ("OED"), a Bermuda-registered Segregated Accounts Company ("SAC").

Regulatory Status

OED operates under a Digital Assets Business License issued by the Bermuda Monetary Authority ("BMA"), permitting it to issue, sell, and redeem virtual coins, tokens, and other forms of digital assets.

License	Status
Current License	Class M (BMA)
Planned Upgrade	Class F (application targeted early 2026)

Underlying Fund

The underlying asset is the BNY Global Short-Dated High Yield Bond Fund, managed by BNY. All fund shares purchased from HYBOND subscriptions are held and custodied directly with BNY.

Custody Arrangements

Function	Provider
Fund Custody	BNY
Crypto Custody (USDC)	Coinbase (primary), BitGo

Coinbase is our preferred crypto custodian as it supports 1:1 USD ↔ USDC conversion.