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US Treasury Bill Token

cnUSTBCenterChainPending

A token backed by US Treasury bills held with [Custodian], distributing yield on published terms. Audits pending.

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Overview

cnUSTB will represent a pro-rata interest in a portfolio of US Treasury bills held by [Custodian] for [Issuer SPV]. Yield accrues to the token’s net asset value daily; the target yield shown is the portfolio’s current yield to maturity, net of fees, and changes with market rates.

Tokens are minted only after both audits are published. Eligible investors will subscribe in USD or an approved stablecoin and redeem at NAV on the published schedule.

Terms

T plus 0Request before the cut-offA redemption placed before the published cut-off enters the same day's batch. After it, the request waits for the next one.
T plus 0Tokens locked, value struckThe tokens stop transferring and the value used for the redemption is the one published for that day.
T plus 1Custodian settles the underlying[Custodian name] sells or matures the share of the holding that backs the redeemed tokens.
T plus 2Cash paid, tokens burnedProceeds reach the holder's registered account and the redeemed tokens are burned on CenterChain, so supply and reserves stay matched.
Redemption path for cnUSTB. The cut-off, the settlement window and any fee are the ones stated in the rows below, which govern. Availability depends on your jurisdiction and investor status.
4.51%Gross yield, the target plus the fee
Kept by the holder, target yield4.21%
Taken by the fee, per year0.30%
Share of the gross yield taken by the fee6.7%
Kept by the holderTaken by the fee
The target yield is already net of the fee, so the gross figure is the target plus the fee stated in Terms and fees below, which govern. The bar is the proportion between the two. Sample data.

Eligibility and access

Eligible investors[To be confirmed by counsel]
Minimum subscriptionUSD 10,000 [sample]
Restricted jurisdictionsSee the eligibility page
VerificationKYC and investor classification required
Where to subscribeOpens after both audits are published

Structure and custody

Issuer[Issuer SPV name], [jurisdiction]
UnderlyingUS Treasury bills, 1 to 6 month maturities
Custodian[Custodian name]
Agent[Agent or trustee]
Bankruptcy remoteness[Statement supplied by counsel]
ContractDeployed after the on-chain audit

Terms and fees

Yield methodologyPortfolio yield to maturity, net of fees, updated daily
DistributionAccrues to NAV
RedemptionAt NAV, T+1 business day [to be confirmed]
FeesManagement 0.30% per year [sample]; redemption 0%
NetworksCenterChain
ReportingMonthly attestation; audit on every contract change and annually for financials

Underlying

InstrumentMaturityISINWeightValue
US Treasury billNov 2026[ISIN to be supplied]52.0%USD 11,284,000
US Treasury billFeb 2027[ISIN to be supplied]48.0%USD 10,416,000
Total100.00%USD 21,700,000
As of 17 Sep 2026, 14:05 UTC · Sample data

Verified twice

Loading the audit trail
Verified twicePending
On-chain audit[Audit firm]PendingScope: token contract, access controls, upgrade path, reserve logic
Financial and legal audit[Audit firm]PendingScope: financial statements of the issuer, authority to issue, custody arrangement, asset existence
[Audit firm]On-chain: token contract, access controls, upgrade path, reserve logicPendingPending
[Audit firm]Financial and legal: financial statements, authority to issue, custody arrangement, asset existencePendingPending
Sample data

Documents

Offering documents

Term sheet[Date]Pending publicationPending

Custody

Custody confirmation[Date]Pending publicationPending

Audits and attestations

Smart contract audit[Date]PendingPending
Financial and legal audit[Date]PendingPending
Attestation archive for cnUSTBAll monthly attestations, filterable by yearView transparency
Download fact sheetTwo pages, generated from this record, with every checksum. Sample data.
Sample data
Key risks
  • Sovereign credit risk: the underlying bills depend on the issuing government meeting its obligations.
  • Interest rate risk: market rates move the value of the bills and the target yield.
  • Currency risk: USD-denominated tokens move against your home currency.
  • Liquidity and redemption timing: redemptions settle on the published schedule and secondary trading may be thin.
  • Smart contract risk: audited code can still contain defects; upgrades follow the published process.
  • Regulatory and tax risk: rules differ by jurisdiction and can change; tax treatment depends on your residence.
Full Risk Disclosure

Questions about cnUSTB

NAV is the value of the bills and cash in the portfolio, less accrued fees, divided by tokens in circulation. It is calculated daily and published with an as-of time.