Ethereum
Arbitrum
Base
TBILL tokens represent shares in a BVI professional fund holding short-dated US Treasury bills, minted and redeemed through an ERC-4626 smart contract vault. OpenEden was the first tokenized treasury issuer to receive an investment-grade rating from Moody's, and publishes daily reserve and NAV reports.
Moody's-rated tokenized T-bill vault with ERC-4626 composability.
Prism analyst note
TBILL pioneered the ERC-4626 vault interface for treasuries, making it the most DeFi-composable of the rated products. The Moody's rating and Chainlink proof-of-reserve integration give it above-average transparency for its size. Scale is the main limitation: liquidity and depth trail the megafunds, so it suits mid-size allocations rather than institutional block flows.
Generated from issuer disclosures and reviewed against the sources listed below. Not investment advice.
Structure & compliance
- Underlying
- Short-dated US Treasury bills, overnight repo
- Legal structure
- BVI professional fund; token = fund share (ERC-4626)
- Jurisdiction
- British Virgin Islands / Singapore
- Custodian
- Regulated fund custodian; treasuries held via prime broker
- Administrator
- Independent fund administrator (daily NAV)
- Oracle / NAV source
- OpenEden NAV feed (Chainlink proof-of-reserve integration)
- Reserve information
- Daily published reserves; Moody's investment-grade bond-fund rating (2024); Chainlink proof-of-reserve feeds.
- Transfer restrictions
- Mint/redeem gated by KYC; token transfers between verified wallets.
- Investor eligibility
- Accredited / professional investors
- KYC required
- Yes
Reserve verification
Contracts & on-chain data
Addresses shown only where independently confirmed against explorers and issuer documentation. Holder and transfer analytics are available via the linked explorers. 400+
Documents & disclosures
Frequently asked
What does the Moody's rating cover?+
The fund received an investment-grade bond-fund rating assessing portfolio credit quality, a first for a tokenized treasury product.
