Provider at a glance
- Category
- Tokenised T-Bills
- Entity
- Not verified
- Official website
- docs.openeden.com
Independent rankingchecked How it works
Details
Scored 59 out of 100 under methodology 2026.10.18, from the evidence read on file.
OpenEden TBILL
Tokenised T-bill fund
Tokenised T-Bills
#6 Overall
Ranked #6 of 9 tokenised T-bills in the published ranking
59
ChainChoice Score
The ChainChoice Score, shown against 100: published scores run from 41 to 99.- Low evidence confidence
- $35 your cost/yr
Is OpenEden TBILL right for you?
Look elsewhere if these come first
- Open to you3/10 here; the category best is 8
- Legal claim4/10 here; Invesco USTB (Superstate) scores 7
- Redemption reality3/10 here; Ondo OUSG scores 8
- Total fees3/10 here; Invesco USTB (Superstate) scores 9
Not yet tested for your country. Markets it lists: Global.
to test where you can use it.
The rank above is the published one, the same for every reader. Find my best tokenised T-bill shows where it lands for you.
What will OpenEden TBILL cost you?
$35 your cost/yr
- Your balance
- $10k
- Annual management fee
- 0.35%
$10 above the median of 6 priced tokenised T-bills.
How this is calculatedHow safe is OpenEden TBILL?
- Evidence: unknown4 of 4 criteria scored; no receipt file yet. The score is provisional until a quoted source is on file.
- LicenceMiCA (EU): no register record on file here.
Alternatives to OpenEden TBILL
Compare all 4- 5Ondo OUSG10 points above · stronger on redemption reality (8 against 3)69$30
- 7VanEck VBILL6 points below · stronger on legal claim (5 against 4)53
- 8Invesco USTB (Superstate)6 points below · stronger on total fees (9 against 3)53$15
For your setup
Find out if OpenEden TBILL fits you
The rank above is the published one — the same for every visitor. Answer the category's questions and this section shows where OpenEden TBILL lands for you, which criteria your answers weight up, and which stated needs the record does or does not meet. The published rank stays beside it.
- A few questions
- No account required
- Ranking-blind: no commercial input
- Personalised in under 60 seconds
Find my best tokenised T-billNothing is inferred from clicks, popularity or commercial value.
Why this rank
Why OpenEden TBILL ranks #6
Each strength is read from evidence on a 0–10 ladder and weighted as the published methodology states. The 32 objective points these produce (10.5 here) sit inside the score; availability, friction, trust record and measured data add the rest.
4 published criteria · Σ weight 100
CriterionWeightStrength · 0–10ScoreContrib.MedianBestRankEvidence
303+2.883.08#4/9Loading evidence…
284+3.586.010#7/9Loading evidence…
243+2.306.08#7/9Loading evidence…
183+1.735.09#7/9Loading evidence…
Hairline = best in this ranking · tick = its median · a missing bar is "not scored", never zero
Margin−10behind Ondo OUSG, #5
RobustnessHoldsacross a one-point change to each of its 4 criterion scores, the re-run scores 58–61 and stays #6
Evidence4 of 4 scoredno receipt file for this category
What would move the rank
Each line is the ranking run again with one of OpenEden TBILL’s criterion scores changed and every other value held: the smallest whole-point change on that criterion that moves its rank, and where the re-run puts it. Up to 4 climbs and 3 falls are listed, smallest change first. Nothing here is a forecast.
Who can actually buy it 3 → 9 on its ladder · passes Ondo OUSG+671#6 → #3
Legal claim quality 4 → 10 on its ladder · passes Ondo OUSG+670#6 → #3
Redemption reality 3 → 10 on its ladder · passes Ondo OUSG+770#6 → #3
Legal claim quality 4 → 0 on its ladder · VanEck VBILL passes it−452#6 → #8
Smallest climb: who can actually buy it 3 → 9 passes Ondo OUSG, #5.
Strengths
0 from the score dataWhere it leads
No scored criterion is at or within one point of the category best, so no strength can be stated from the data.
Tradeoffs
4 from the score dataWhere it trails
Not for readers who put first
- Who can actually buy it — 3/10 against a category best of 8/10
- Legal claim quality — 4/10 against a category best of 10/10
- Redemption reality — 3/10 against a category best of 8/10
- Total fee load — 3/10 against a category best of 9/10
Record watch-outs
- True one-year round-trip cost is about 0.45%, not the 0.35% headline
- The issuer documents a next-business-day QUEUE as the base case — “instant” is buffer-dependent
- Accredited/professional investors only; 100,000 USDC first deposit
- Whitelisted wallets only — no permissionless secondary market
Competitive position
Where OpenEden TBILL leads and where it trails
Rank on every objective dimension among the rows scored on it. A criterion in the top third of its pool is listed as a lead, the bottom third as a trail; the middle is neither. Popularity, size and commercial terms are not dimensions.
Availability#1 / 914.0 of 20 · pool best
Published criteria#8 / 97.9 of 30 · best 19.4
Friction#4 / 92.7 of 10 · best 7.3
Trust record#4 / 95.6 of 8 · best 6.4
Measured data#1 / 99.7 of 18 · constant here
Where OpenEden TBILL leadsNo criterion in the top third of its pool.
Where it trails
- Legal claim quality#7 / 9
- Redemption reality#7 / 9
- Total fee load#7 / 9
Closest alternatives
The 3 nearest rows by score
Nearest by published score in either direction. Each card states the criteria on which the two rows differ and the cost difference under the same scenario inputs; the compare arithmetic below shows why the higher one ranks higher.
VanEck VBILL#7 of 9 · score 53 · 6.0 points behind
OpenEden TBILL leads on
- Who can actually buy it3 vs 2
- Redemption reality3 vs 2
- Total fee load3 vs 1
VanEck VBILL leads on
- Legal claim quality5 vs 4
Largest single reason OpenEden TBILL is ahead: published criteria (+3.9 display points).Scenario cost: VanEck VBILL has no verified pricing for this scenario.
Invesco USTB (Superstate)#8 of 9 · score 53 · 6.0 points behind
OpenEden TBILL leads on
- Who can actually buy it3 vs 2
Invesco USTB (Superstate) leads on
- Legal claim quality7 vs 4
- Redemption reality6 vs 3
- Total fee load9 vs 3
Largest single reason OpenEden TBILL is ahead: availability (+20.8 display points).Scenario cost: Invesco USTB (Superstate) is −$20 against OpenEden TBILL.
Ondo OUSG#5 of 9 · score 69 · 10.0 points ahead
OpenEden TBILL leads onNo scored criterion
Ondo OUSG leads on
- Redemption reality8 vs 3
- Total fee load5 vs 3
Largest single reason Ondo OUSG is ahead: published criteria (+9.6 display points).Scenario cost: Ondo OUSG is −$5.00 against OpenEden TBILL.
Against the leader
81 vs 59 · gap 22.0Why Franklin Templeton BENJI (FOBXX) ranks above OpenEden TBILL
The compare workspace's arithmetic applied to these two rows. Each dimension's share of the gap is its weight × the difference, on the displayed scale — it reproduces the displayed gap of 22.0 to within rounding. OpenEden TBILL is ahead on availability (+20.8 in its favour).
DimensionThisFranklin Templeton BENJI (FOBXX)Gap share
Availability · 23% weight14.06.0+20.8, better
Published criteria · 35% weight7.919.4−29.9, worse
Friction · 12% weight2.76.7−10.4, worse
Trust record · 9% weight5.66.4−2.1, worse
Measured data · 21% weight · constant here9.79.7same
Published criterionThisFranklin Templeton BENJI (FOBXX)Points
Who can actually buy it · w3038−4.80, worse
Legal claim quality · w28410−5.38, worse
Redemption reality · w2436−2.30, worse
Total fee load · w1838−2.88, worse
Net5981−22.0
Your scenario
What OpenEden TBILL costs on your scenario
The annual management fee on your balance. Excludes performance fees, spreads and any redemption charge. Change an input and every figure recomputes from the published rate; the published rank does not move.
your cost/yr · default scenario — set your own
Your balance · your input$10k
Annual management fee · published rate0.35%
Rate read from the provider’s published pricing ↗ on 14 September 2026.
your cost/yrCost is stated as your cost/yr in USD; it is never a yield, never annualised, and it does not enter the score.
$35
Under the default inputs · USDCategory median$256 of 9 rows priced · OpenEden TBILL +$10 vs median
Cheapest priced$15 · Invesco USTB (Superstate)OpenEden TBILL costs +$20 more · availability not applied — set your country to filterCompare with Invesco USTB (Superstate)
3 of 9 rows in this ranking have no verified rate for this scenario and are absent from the median, not counted as free.
Evidence
No evidence reading date recorded
One row per published criterion: the page each strength was read from, its source type by domain, the reading date and whether the file and the published table agree. Open a row for the quote and the receipt.
4 of 4 cells scored
Score evidenceUnknownno observation on file
No structured observation on file for this category; the strengths are the catalog’s published values.Public receiptsReading…category publishes no receipt file
The receipt file has not been read yet.Evidence confidenceNot yet ratedcoverage and corroboration, never freshness
No structured observation on file for this category; the receipt count is not counted.RobustnessHoldsrank #6 across every one-point re-run
Whether the position holds when one criterion score is changed by one point and the ranking is run again. It is always a re-run of the ranking, never an estimate.No structured observation is on file for this provider in this category; the strengths are the catalog’s published values.
9 listed rows in this category still await an evidence read and sit outside the scored pool.
Reading the evidence ledger…
CriterionSourceTypeReadFreshnessStatusReceipt
Who can actually buy itstrength 3 · weight 30Report an error——
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.Legal claim qualitystrength 4 · weight 28Report an error——
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.Redemption realitystrength 3 · weight 24Report an error——
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.Total fee loadstrength 3 · weight 18Report an error——
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.How you can lose money here, and what the ranking scores
- Insolvency failure (OpenEden TBILL 4/10): the firm or issuer that owes you cannot pay.Scored by Legal claim quality · 28%
- Regulatory failure (OpenEden TBILL 3/10): no licence where you are, or a forced market exit.Scored by Who can actually buy it · 30%
- Exit failure (OpenEden TBILL 3/10): you cannot get out at par, on time, or with what is yours.Scored by Redemption reality · 24%
Not assessed by this ranking: Contract failure, Control failure, Custody failure, Information failure. A high place says nothing about these; the Methodology tab says what each means. Also scored, as cost, quality or a summary of several families: Total fee load (18%).
Facts
facts, not scoresWhat the record publishes
- Pricing
- THREE layers, and the headline understates the round trip: a 0.35% p.a. total expense ratio charged daily on TVL, PLUS a 5bp transaction fee on BOTH subscription AND redemption, so a one-year round trip costs about 0.45%. OpenEden's own FAQ still quotes a 30bp expense ratio, but the fee table on its Fees page says 0.35%. First deposit 100,000 USDC; later deposits 1 USDC. The legal claim is a CONTRACTUAL entitlement to a share of the redemption value of the Fund's assets, which is weaker than a direct beneficial interest in identified T-bills.OpenEden fee documentation ↗ · 14 September 2026
- Prices published in
- USDOpenEden fee documentation ↗ · 14 September 2026
- Licences held
- Not published
- Compliance level
- full
- Regulatory note
- Not published
- Supported chains
- BNB Chain, XRP Ledger, Ethereum, Solana, Arbitrum
- Markets served
- global
- Primary markets
- Institutional and qualified investors
- Restricted markets
- Not published
- Operating limits
- Whitelisted wallets only; 100,000 USDC first deposit; redemption queue typically next business day.
- Availability note
- Accredited or professional investors only after KYC — ordinary retail excluded in every jurisdiction.
No confirmed legal entity is on file for this record. Nothing is inferred from the brand name.
If something goes wrong with OpenEden TBILL: where to complain, and where to report a scam
Loading the routes for your country.
How this page is reviewed
Reviewed means this product in this category was read against its sources on or after that date; every ranked category is re-read at least every 45 days. Models research, extract and parse. A deterministic engine ranks. Every quote passes an adversarial refute pass.
Accountable for this review: Mathias Siemonsmeier, Founder.
How we review · Review calendar · Corrections log · How we make money
History
What the record carries
Changes to published ranks are recorded in a ledger; every step and its cause is listed on the rank-history page. The entries below begin with the current verified snapshot, then the methodology versions whose changes applied to this category, newest first.
12 methodology entries
- currentCurrent verified snapshot · methodology 2026.10.18Score 59, #6 of 9. 4 of 4 criteria scored. History starts here; earlier values are not interpolated.
- 15 October 2026
2026.10.10The live-data rule names the researched market measurements a criterion reads- changed The live-data rule names a second kind of figure a score reads: a researched, dated market measurement a criterion's ladder is built on, read again on the 45-day review. /methodology/live-data lists the 14 criteria that read one; no score, rank or order changes.
- changed A saved decision is checked again on the answers the reader saved. The drift check had merged a priority suggested by the market (price swings, gas) into those answers, so a market reading could move a saved decision's #1; the published ranking never read it.
- added On every build a test reads every criterion's published ladder: one that names a market quantity or a market-data source must be declared, and every scored row of a declared criterion must carry the source and the date its figure was read.
- 10 October 2026
2026.10.8When nothing serves your country, the list shown for reference is the published ranking · platform-wide- fixed The reference list shown when nothing serves your country is the published order with the published scores, and a build check now fails any such list out of that order or with a score the ranking does not publish.
- fixed The explorer prints an overall rank only for a row the published ranking holds; a country entrant such as Coinbase Commerce for US merchants shows no overall rank.
- changed Published orders do not move. Country results change only where nothing serves the country: in India bill pay keeps Bitcoin Well first and now shows Strike second, as published; 35 such runs across all categories and countries now match the published list exactly.
- 10 October 2026
2026.10.7Forty-one more products are offered only where their own quoted terms serve- fixed 141 country exclusions on 31 rows, each the name of a country the row's own quoted terms exclude: for example Mercuryo Hungary, China, Pakistan, Bangladesh, Chile, Colombia and Morocco; Gemini Custody the United Kingdom, Australia and the EU after its wind-down; Backed xStocks the US, Canada, the UK, Australia, Nigeria, the Philippines and Venezuela.
- changed Thirteen rows list the only countries their terms serve: Coins.ph the Philippines, Spritz bill pay, Brex, Unchained, WisdomTree, Franklin BENJI and AnchorWatch the United States (with its territories for AnchorWatch), PRYPCO Mint the UAE, N26 crypto seven EU countries, Gemini Tokenized Stocks the EU, XNET the US, Canada and the UK, Coldbit Steel and MetaMask Card the countries they list.
- changed Published (no-country) orders do not move. Country results change: in India six categories each lose one row (bill pay, cards, off-ramps, P2P, seed backup, tokenised real estate), and bill pay there has no row confirmed available, so it shows the published order marked as such; country pages list 23 fewer rows (24,357 to 24,334). The grounding test now matches full country names in any case, which shows seven earlier exclusions were quoted all along: the named debt of unquoted exclusions falls from 40 to 33 pairs.
Methodology 2026.10.18, the same published run every visitor sees · receipt tokenised_tbills:openeden_tbill:2026.10.18:4ec2d9728d0f
Are you OpenEden TBILL? Reply to this verdict, or send evidence, ask for a correction or claim the listing. Every message gets a public ticket number; none of it changes a rank unless a public page or a signed statement supports it.