Tokenised RWA Brief: On-Chain Treasury Bills Feb 2024

Frequently Asked Questions

01.What is a tokenised RWA treasury bill?

A tokenised RWA treasury bill is a blockchain-recorded claim on short-duration US government debt, typically wrapped inside a regulated fund structure. Investors hold a token that represents fractional ownership of Treasury bills or a money-market fund, with the issuer handling custody, redemption, and legal title off-chain.

02.How do tokenised treasuries differ from stablecoins?

Stablecoins are payment instruments pegged to a currency with no yield passed to holders in most designs. Tokenised treasuries are yield-bearing securities that require KYC and accreditation, settle at net asset value rather than a fixed peg, and are regulated as fund shares or notes rather than payment tokens.

03.Who can currently invest in tokenised US Treasury products?

As of February 2024, most tokenised Treasury products restrict access to accredited or qualified investors who pass KYC and AML checks. Retail access is limited; family offices, DAOs, and institutional allocators represent the primary buyer base, typically subject to minimum ticket sizes in the tens of thousands of dollars.