Axcess will hold collateral buffers in USDO to earn Treasury-backed yield, while borrowers can access capital-efficient trading collateral through OpenEden.
OpenEden, a leading regulated tokenization platform, and Axcess, an institutional lending protocol, today announced a partnership to improve capital efficiency across Axcess’s institutional credit facilities. Under the partnership, Axcess will hold borrowers’ first-loss collateral buffers and a portion of its treasury in OpenEden’s regulated yield-bearing stablecoin, USDO. The partnership also enables Axcess to convert facility capital from USDC into United Stables’ $U through OpenEden and deliver it to borrowers as capital-efficient trading collateral.
Axcess connects institutional lenders with trading firms and market makers, providing borrowers with USDC credit that they can deploy directly to their exchange accounts. Before drawing funds, each borrower must post a first-loss collateral buffer. Under this partnership, Axcess will now hold these buffers in USDO to earn Treasury-backed yield for the duration of the credit facilities, while retaining the buffers to cover losses if a borrower defaults.
USDO is OpenEden’s regulated, yield-bearing stablecoin, fully backed by tokenized US Treasuries and pegged 1:1 to the US dollar. It is issued by OpenEden Digital under a Bermuda Digital Asset Business Act (DABA) Class F License, and its yield accrues from the underlying reserves of tokenized US Treasuries.
The partnership also offers Axcess borrowers a direct route to lower their net borrowing costs. For borrowers who opt in, Axcess converts drawn USDC into United Stables’ $U through OpenEden and delivers it directly to the borrower’s trading account. There, $U serves as trading collateral and accrues a distribution reward. With OpenEden and Axcess handling conversions in both directions, borrowers can trade without interruption while benefiting from a lower net borrowing cost.
“Institutional lending requires capital to be set aside for credit and trading activity, and the opportunity lies in making that capital more productive throughout its lifecycle,” said Jeremy Ng, Founder and CEO of OpenEden. “For tokenized assets to become part of everyday institutional finance, they need to serve the operational needs of lending platforms and the trading needs of their users. That’s the direction we’re building toward with Axcess.”
In OpenEden’s earlier institutional integrations, USDO and cUSDO have served as collateral that clients post with exchanges, prime brokers, and custodians, with the yield accruing to the client. Through this partnership with Axcess, OpenEden is extending USDO’s role beyond client-posted collateral into the broader operations of institutional lending platforms.
About OpenEden
OpenEden operates a leading regulated tokenization platform, renowned for its unmatched focus on regulatory standards and advanced financial technology. Founded in 2022, OpenEden bridges traditional and decentralized finance by providing, through its regulated entities in Bermuda and the BVI, secure, transparent, and compliant on-chain access to tokenized assets. OpenEden is tokenizing global finance with a core focus on compliance and innovation. To learn more, visit www.openeden.com.
About Axcess
Axcess is an institutional credit protocol that brings capital efficiency to trading firms. The platform provides trading firms and market makers with fixed-term USDC credit for direct deployment in their existing exchange accounts, and offers lenders a fixed rate on credit to vetted institutional borrowers. Every facility is underwritten prior to funding, ring-fenced from all other borrowers, continuously monitored, and supported by first-loss capital posted by the borrower. For more information, visit www.axcess.finance.
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