STBT, issued by Prometheus Solutions Ltd, is a tokenized U.S. Treasury exposure that provides economic exposure to short-term U.S. T-bills and reverse repurchase agreements, with each token equivalent to holding one U.S. dollar (USD) of net asset value (NAV) [S1][S2].

Holding one STBT is equivalent to holding 1 USD NAV of short-term U.S. Treasuries, reflecting exposure to U.S. T-bills under three months maturity, reverse repurchase agreements, and up to 5% USD cash, with reserve NAV maintained slightly above token supply [S1][S2]. Yield accrues through a daily rebasing mechanism that adjusts token supply Monday through Sunday to reflect NAV increases, producing a disclosed 30-day average yield of approximately 3.51% after fees [S1].

Prometheus Solutions Ltd, trading as Matrixdock, has a British Virgin Islands nexus reflected in its AML statement referencing BVI sanctions lists [S3]. The issuer states it makes no offer to buy or sell any securities or other instruments and will not treat users of the website as its clients [S4]. STBT is issued through a dedicated orphan special purpose vehicle held under a purpose trust, bankruptcy-remote and segregated from Matrixdock [S5][S1]. It is tailored exclusively for Accredited Investors requiring KYC onboarding, excluding restricted jurisdictions [S1]. Redemptions process T+2, with T+0 redemption available within a daily global limit of 1 million USD [S1].

STBT is a rebasing token supported on Ethereum, BNB Smart Chain, and Arbitrum, with a non-rebasing wrapped form, wSTBT, also offered [S1][S6]. Mints process T+0 and redemptions T+2 [S1]. Reserve NAV and composition are disclosed daily through onchain Proof of Reserves feeds and an independent Transparency Panel with view-only access to reserve bank accounts [S1][S7].

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    { id: "S1", url: "https://www.matrixdock.com/stbt" },
    { id: "S2", url: "https://www.matrixdock.com/" },
    { id: "S3", url: "https://www.matrixdock.com/aml-statement" },
    { id: "S4", url: "https://www.matrixdock.com/" },
    { id: "S5", url: "https://www.matrixdock.com/transparency/bankruptcy-remoteness" },
    { id: "S6", url: "https://www.matrixdock.com/" },
    { id: "S7", url: "https://www.matrixdock.com/transparency/transparency-panel" },
  ]}
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Tokenized funds

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Matrixdock

Matrixdock Short-term Treasury Bill Token (STBT) is a tokenized fund share issued by Matrixdock.

The fund is open-ended, invests in U.S. government debt, and keeps its assets in accounts segregated within a bankruptcy-remote structure.

Accredited investors can mint and redeem directly with Matrixdock in USDT after completing KYC, and holders have a right to redeem at net asset value with two-to-five-business-day settlement.

STBT has been issued on Ethereum as an ERC-20 token since January 2023.

Matrixdock Short-term Treasury Bill TokenSTBT

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