Treasury & money marketActive

OpenEden TBILL Vault

Value (USD)$294.03M2026-09-30

Wallet holders262026-09-30

Minimum investmentUSD 100,000 (USDC) first deposit; subsequent deposits from 1 USDC

Yield—Unverified

Overview

TBILL tokens represent interests in a BVI-registered professional fund that holds short-dated US Treasury bills and USD. Whitelisted, KYC-verified investors subscribe and redeem in USDC through an on-chain vault, and the token price reflects the fund's NAV. Underlying T-bills are custodied at BNY, which also manages the portfolio through its Singapore investment management arm.

Short-duration US Treasury bills and USD cash; target WAM under 3 months

Product structure

Lowest eligible investor type: Professional or accredited

US persons: Not verified

Investor eligibility: Accredited or professional investors completing KYC/KYB

Classification of public offering terms, not a determination of your eligibility. Check the offering documents.

Legal wrapper: BVI professional fund under the Securities and Investment Business Act 2010
Domicile: British Virgin Islands
Regulatory status: Registered professional fund regulated by the BVI Financial Services Commission
Asset segregation: Fund vehicle separate from OpenEden; issuer states 1:1 backing by T-bills and USD held at regulated custodians. Segregation details beyond this not found.
Custodian: The Bank of New York Mellon (US T-bills); Coinbase Prime used for fiat on/off-ramp
Fund administrator: Protege Fund Services
Auditor: TJ Assurance Partners PAC (fund auditor per FAQ); Ernst & Young performed an independent review of KYC, valuation and custody procedures
Transfer agent: Unverified
Tokenization agent: OpenEden (vault developed by River Labs Pte Ltd)
Proof of reserve: Administrator NAV reports; no Chainlink PoR referenced in issuer docs

Redemption & liquidity

Redemption terms: Redemptions in USDC processed typically next US business day on FIFO queue; minimum 1 USDC; rwa.xyz notes instant redemption when liquidity is available
Secondary liquidity: Transferable only between whitelisted investors
Yield mechanism: NAV accrual (token price = fund NAV / token supply; about USD 1.16 in Sept 2026)

Fees

Total expense ratio 0.35% p.a. charged daily on TVL; 5 bps transaction fee on subscriptions and redemptions (rwa.xyz lists 0.31% management)

On-chain information

EthereumBNB ChainXRP LedgerSolanaArbitrum

Token standard: ERC-20 / BEP-20; XRPL token; SPL
Transfer restrictions: Permissioned; whitelist after KYC/KYB

Contract addresses: unverified

Notes & material events

Smart contracts audited by Hacken and Verichains. Issuer docs and rwa.xyz differ on management fee (0.35% vs 0.31%) and on redemption speed (next business day vs instant).

Revision history

No published revisions.

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