Solana Fund Gets Regulated Custody for Yield-Generating Tokenized Product

Introduction

A Hong Kong fund that aims to earn yield without betting on crypto prices has now live on the Solana blockchain. The fund, PrimePlus SPC's USDGO Plus SP, has been tokenized and is being managed by OSL Group.

What is the Fund?

The fund is described as the first market-neutral fund built on a US dollar-backed stablecoin. It runs on USDGO, a stablecoin backed by the US dollar.

Access and Investment

Access to the fund is not open to everyone. Only eligible professional investors in Hong Kong can buy in. Investors can reach the fund through the OSL HK app, which shows real-time net asset value (NAV) updates.

Subscription and Redemption Features

Subscriptions and redemptions happen daily. A T+0 express redemption feature is planned for late October 2026.

OSL Group's Custody Operation

OSL Group holds the fund's assets, including the underlying USDGO. Its Hong Kong custody operation carries over $1 billion in digital asset insurance coverage.

Funding-Rate Arbitrage Strategy

The fund's strategy centers on funding-rate arbitrage across crypto derivatives markets. The fund deliberately steers clear of directional positions.

Early Returns

The fund has reported a 16.67% return since inception. Its annualized return over the prior 30 days was 17.05% before fees.

Tokenization and Regulated Custody

The key structural point is that the tokenized units sit inside a traditional fund vehicle. The blockchain layer does not replace the regulated wrapper. It runs on top of it.

Implications for Investors and the Tokenization Race

The most immediate audience is Hong Kong's professional investor pool. For them, the pitch is straightforward. They get crypto-native yield without needing a view on where Bitcoin or any other token is headed next. The custody setup is a meaningful selling point, with over $1 billion in insurance coverage and a listed custodian.

Conclusion

The tokenization of the USDGO Plus SP fund on Solana marks a step towards merging traditional finance with digital asset technology. OSL Group is positioning itself as the regulated plumbing for these products: custody, compliance, and distribution through its app.