$350 billion in stablecoins earn nothing for holders. OpenEden wants to change that.

Stablecoins have become a significant part of the crypto market, with approximately $350 billion in circulation. However, the issue is that most stablecoins do not generate any interest for the holders; instead, the interest goes to the issuers. Jeremy Ng, the co-founder of OpenEden, believes that this is a problem that can be easily addressed.

Ng points out that stablecoin holders should have the opportunity to earn a risk-free yield in a seamless and highly functional manner. To tackle this issue, OpenEden has introduced a tokenized money market fund, a traditional financial product that has been brought onto the blockchain.

The choice of starting with money market funds was deliberate, as Ng highlights their liquidity and risk-free nature as key factors. OpenEden has partnered with Bank of New York to manage the underlying money market fund, ensuring that the yield remains consistent. By tokenizing this product, it can be utilized within the crypto ecosystem as collateral or a store of value.

While money market funds serve as a starting point, OpenEden has developed a tokenization platform called OpenEden Atlas, which allows asset managers, stablecoin issuers, and asset owners to tokenize their products on-chain. The platform has already 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 emphasizes the importance of bringing traditional fixed income assets on-chain, as they form a significant portion of institutional and high net worth investor portfolios. OpenEden is collaborating with large asset managers to facilitate this transition and believes that migrating traditional portfolio construction on-chain will require the inclusion of the fixed income layer.

This innovative approach to tokenization and yield generation in the crypto space is poised to revolutionize how stablecoins and other assets are utilized. By providing holders with the opportunity to earn a yield on their assets, OpenEden is paving the way for a more efficient and lucrative crypto ecosystem.

This article was originally published by TheStreet on April 9, 2026, in the Innovation section. For more information and to stay updated on this evolving industry, consider TheStreet as a preferred source.