Coming soon · VESTN Community Hub · Q3 2026
Treasuries · United States
Tokenized US T-Bills (3M)
Issued by Meridian Digital Labs
Live
90-second diligence read
The six structural questions
- Servicer
- Regulated transfer agent (illustrative)
- SPV
- Bankruptcy-remote Cayman SPC, segregated series
- Waterfall
- Pro-rata NAV, no subordination, single senior class
- Oracle
- Attested: daily NAV from qualified custodian
- Default path
- Underlying US Treasuries; sovereign default risk only
- Legal recourse
- Direct claim on segregated series assets
Who services the underlying?
What legal wrapper holds the asset?
How do cashflows flow?
Where does the NAV come from?
What happens if it breaks?
What do holders actually own?
Scored against the VESTN Diligence Framework · v0.1.
See the pass · warn · fail criteria →About
On-chain exposure to short-duration US Treasury bills with daily NAV transparency and institutional custody.
Key terms
- Asset class
- Treasuries
- Region
- United States
- Currency
- USD
- Term
- 3 months
- Target yield
- 5.21%
- Status
- Live