【Quick Release】Compliant U.S. Treasury RWAs Officially Enter the Era of Real-Time Trading, EX.IO and OpenEden Join Forces to Bring Quality Assets Within Investors’ Reach

BNY-managed tokenized U.S. Treasuries expand from primary distribution to licensed spot trading — enabling professional investors to earn on-chain T-bill yield and enter or exit at will on a Hong Kong SFC-licensed platform.

(Hong Kong and Bermuda — 28 September 2026) EX.IO, a leading SFC-licensed virtual asset trading platform in Hong Kong, today announced that OpenEden’s flagship tokenized U.S. Treasury product, the Treasury Bills Institutional Liquidity Ltd ($TBILL) Fund, is now available for spot trading on the EX.IO order book. Professional investors can buy and sell $TBILL in U.S. dollars in real time, extending the product from a NAV-based primary subscription and redemption model into continuous on-exchange matching.

The expansion closes a critical gap in compliant on-chain cash management: investors can hold tokenized short-dated U.S. Treasury Bills that accrue overnight yield, and reallocate or exit as needed — without waiting for the issuer’s redemption window. It is a flagship example of the regulated industry building an on-chain U.S. Treasury equivalent of a money-market cash management product — a “Yu’e Bao” for Treasuries.

A Strong Partnership to Grow Quality On-Chain Assets

According to information provided by the issuer, TBILL is an accumulating NAV token that offers on-chain exposure to short-dated U.S. Treasury Bills. Treasury yield rolls into the fund’s net asset value, and the token price drifts higher over time. As of late September 2026, NAV was approximately USD 1.16, the seven-day annualized yield was approximately 3.8%, and total assets were approximately USD 296 million. Credit quality ranks at the top of the tokenized Treasury universe: TBILL holds an “AA+f” fund credit quality rating and an “S1+” fund volatility rating from S&P Global, and was the world’s first tokenized U.S. Treasury product to receive a Moody’s “A” bond fund rating. Since March 2026, TBILL has been offered on EX.IO’s Wealth / RWA Market channel via Primary Distribution (PD): available to professional investors only, subscribed and redeemed at NAV, with T+1 settlement.

Order-book trading rewrites the market microstructure. Counterparties are other investors, supported by market-maker depth; price forms continuously around an indicative NAV; execution is immediate; ticket size can be sliced; and liquidity is no longer constrained by the issuer’s mint-and-redeem window.

Moving TBILL from primary distribution onto the order book also completes the full-stack RWA path advocated by EX.IO Group, EX.IO’s parent: origination and issuance, custody, distribution, and deep secondary liquidity — each link connected. For issuers, the platform upgrades from a distribution channel to a one-stop venue for both issuance and trading. For the regulated market and the frameworks around it, this is a working example of the intended model for regulated tokenized products — primary distribution and deep secondary liquidity inside a single licensed perimeter*.

Shared Upside, Real-Economy Finance at Higher Velocity

Under this collaboration, each party gains a distinct advantage:

• For investors: Idle cash can earn short-dated U.S. Treasury yield on-chain, and positions can be sold in full or in part during trading hours — without queuing for the issuer’s T+1 redemption.
• For OpenEden: TBILL now has a true order-book market on a licensed exchange for the first time — public, continuous price and depth that a primary window cannot provide — and a regulated gateway to Asia’s professional-investor base.
• For EX.IO: The offering further stress-tests its full-stack RWA architecture in a live market, and sharpens the platform’s differentiation in a rapidly homogenizing licensed VATP landscape.

EX.IO already operates two complementary markets: a central limit order book for spot matching, and an SFC-approved OTC channel for block trades. Its primary-distribution shelf is among the deepest of Hong Kong’s licensed peers — spanning tokenized U.S. Treasuries, money-market funds including Franklin Templeton’s grBENJI, notes, private funds, and tokenized equities. The platform will continue to offer selected assets in service of a simple mandate: help real-economy finance, enable financial innovation, and deliver on the overarching vision of “finding quality assets for quality investors.”

Eligible professional investors can trade TBILL on the EX.IO order book at www.ex.io/en/trade/, or review product information on the RWA Market page at www.ex.io/rwa-market.

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* Available only to eligible clients, such as Professional Investors (PIs) under Hong Kong’s regulatory framework.

About OpenEden

OpenEden operates a leading regulated tokenization platform, known for its rigorous approach to regulatory standards and advanced financial technology. Founded in 2022, OpenEden provides a secure, transparent, and compliant on-chain gateway to tokenized assets through regulated entities in Bermuda and the British Virgin Islands (BVI), connecting traditional finance and decentralized finance. Guided by compliance and innovation, OpenEden is committed to advancing the tokenization of global finance.

For more information, visit www.openeden.com.

About EX.IO

EX.IO is an SFC-licensed virtual asset trading platform in Hong Kong (CE No. BUT670), offering compliant spot trading, OTC execution, and primary distribution of tokenized real-world assets. Licensed for Type 1 and Type 7 regulated activities in December 2024, EX.IO is the only VATP admitted to the HKSAR Government’s Office for Attracting Strategic Enterprises (OASES) programme. Its parent, EX.IO Group, provides a full-stack path from issuance and custody through distribution and secondary liquidity.

For more information, visit www.ex.io.

Media Contacts

EX.IO — Henry Yang, Lead of Marketing, Communications and Content · henry.yang@ex.io

OpenEden — Joel Tan, Head of Marketing and Communications · joel.tan@openeden.com

Important Notice This announcement is for general information only and does not constitute investment advice, an offer, or a solicitation. Virtual assets and tokenized products involve a high degree of risk; prices may rise or fall, and investors may lose all of their capital. TBILL is offered only to eligible professional investors; withdrawals are limited to OpenEden-whitelisted wallets. Please read the product documents and risk disclosures in full and consult a licensed professional before investing. Past performance is not indicative of future results. Product availability, trading pairs, fees, and settlement mechanics are subject to EX.IO’s official announcements and applicable SFC requirements.