OpenEden launches cUSDO on Solana, the wrapped token of USDO, a regulated yield-bearing stablecoin fully backed by tokenized US Treasuries.
Tokenized real-world assets (RWAs) are redefining how traditional finance interacts with blockchain by turning instruments like Treasuries, private credit, and equities into programmable on-chain assets. Assets once limited by geography, operating hours, or administrative constraints are now becoming liquid, composable, and accessible around the clock. In the past year, Solana’s high throughput, low fees, and strong developer ecosystem have established it as one of the leading blockchains for tokenized RWAs as well as RWA-backed stablecoins.
Solana is the third-largest stablecoin ecosystem behind Ethereum and Tron. Its stablecoin market size reached approximately $14.5 billion, a 300% increase since January 2025. Its RWA sector has expanded just as quickly. Solana’s RWA market size exceeded $825 million, accounting for about 4% of the global RWA market and outpacing Ethereum’s growth by nearly 200% year to date.
Despite this remarkable growth, Solana is still dependent on unproductive capital. Billions of dollars flow through Solana’s DEXs, perps, lending markets, and automated strategies, yet most of this capital earns no real-world yield. Meanwhile, other blockchain ecosystems are already integrating tokenized Treasuries into lending markets, structured products, and settlement systems. With a regulated, transparent, yield-bearing stablecoin, Solana can unlock the capital efficiency or institutional utility required for its next phase of growth.
Enter cUSDO.
cUSDO is the wrapped, composable version of USDO, OpenEden’s regulated yield-bearing stablecoin fully backed by tokenized US Treasuries. Every cUSDO circulating on Solana is fully collateralized by tokenized US Treasuries that are verifiable on-chain and held with qualified custodians, including BitGo and Coinbase Prime.
The underlying tokenized US Treasuries themselves are issued and managed by various established institutions such as The Bank of New York (BNY), State Street Bank, VanEck, and BlackRock, creating a clear separation between reserve custody and asset management.
With the token issuer structured as a bankruptcy-remote Segregated Accounts Company (SAC), primary users can redeem USDO or cUSDO at par at any time, protecting the users even if the issuer becomes insolvent.
Unlike conventional stablecoins that are static and unproductive, cUSDO provides value to its holders with its yield-bearing design. The yield is reflected in cUSDO’s increasing price and is generated from the underlying reserves of tokenized US Treasuries. Its token design makes it fully composable and integrable across lending markets, derivatives, structured products, automated strategies, and other DeFi applications.
cUSDO will first be integrated into stable-swap pools, lending markets, and yield markets, giving participants and protocols on Solana access to a productive base asset that earns both Treasury yield and protocol-level returns. cUSDO’s risk-free, consistent returns and high-quality backing will facilitate the next phase of integration into Solana’s DeFi vaults, structured products, and automated strategies.
cUSDO also introduces Solana’s first truly on-chain risk-free rate anchored to regulated US Treasury yield. This gives protocols with the stable baseline required to build LSDFi vaults, fixed-income strategies, principal-protected products, and yield-curve instruments.
As these integrations mature, cUSDO lays the foundation for an institutional settlement layer on Solana, allowing fintechs, OTC desks, and cross-border payment networks to transact with a regulated, yield-bearing stablecoin on Solana. These improvements support each other: idle stablecoin liquidity becomes productive, collateral quality improves lending markets, and increased liquidity attracts more institutional participants.
With cUSDO’s regulated, Treasury-backed foundation integrated onto Solana’s high-performance architecture, the ecosystem is prepared for the next wave of on-chain finance and is well positioned to become a global platform for real-world yield and institutional participation.
About OpenEden
OpenEden operates a leading real-world asset (RWA) 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 RWA. OpenEden is tokenizing global finance with a core focus on compliance and innovation. To learn more, visit www.openeden.com.
NOTE: The content is not for publication or distribution, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the US and the District of Columbia), nor in such jurisdictions where such announcement would require registration and/or approval with any relevant governmental or regulatory authorities (“restricted jurisdictions”). The content is not an offer of financial products or digital assets for sale in the US or such other restricted jurisdictions. The digital assets referred to herein have not been and will not be registered with any regulatory authority or framework, including under the US Securities Act of 1933, as amended and may not be offered or sold in the US or such other restricted jurisdictions, except pursuant to an applicable exemption from registration. No public offering of the digital assets is being made in the US or restricted jurisdictions. For full details on the applicable T&Cs, please refer to https://docs.openeden.com/
