sUSDrf, issued by RealFi Yield Ltd., is a non-rebasing staked receipt token that represents staked RealFi USDrf and accrues income from a diversified real-world-asset portfolio while sitting as a junior risk tranche beneath USDrf [S1][S2].

Holders receive sUSDrf by staking USDrf, the reference asset, and earn variable, non-guaranteed yield through value appreciation across discrete weekly staking epochs aligned with borrower repayment schedules [S1][S3]. Borrowers repay, the RealFi Treasury reconciles offchain cash flows, and the protocol mints new USDrf reflecting realized portfolio income, increasing the USDrf each sUSDrf can be exchanged for each epoch [S3]. Capital is at risk and sUSDrf absorbs portfolio losses first [S4][S5].

RealFi Yield Ltd., formed in the British Virgin Islands (BVI), issues sUSDrf, which is characterized as a debenture under the BVI Securities and Investment Business Act 2010 in reliance on the own-issuance exemption; it is not a bank deposit, is not insured, and carries risk of principal loss [S2][S4]. Offerings exclude the United States, EU/EEA, United Kingdom, Hong Kong, and sanctioned jurisdictions, and restrict sUSDrf to accredited, institutional, or eligible investors where debentures are limited [S6]. Mandatory KYC, KYB, sanctions screening, and smart-contract wallet whitelisting apply [S7]. A four-level defence and capital-stack subordination protect USDrf holders [S5].

sUSDrf is issued onchain on Cardano, with Lace, Eternl, Trezor, and Ledger wallets supported at launch [S8][S9]. Whitelisted institutions mint USDrf by depositing eligible stablecoin collateral, then stake to obtain sUSDrf, redeeming through a human-approved first-in-first-out queue with daily and monthly throttles; retail participants exit via decentralized exchanges [S10][S11]. A Transparency Portal is designed to publish reserve valuations, collateralization ratios, and liquidity coverage [S12].

<Sources
  retrievedAt="2026-09-07"
  items={[
    { id: "S1", url: "https://docs.realfi.co/realfi-tokens/susdrf-staked-usdrf.md" },
    { id: "S2", url: "https://docs.realfi.co/compliance/regulatory-status-of-the-protocol-entities.md" },
    { id: "S3", url: "https://docs.realfi.co/real-world-backing/how-the-returns-reach-the-user.md" },
    { id: "S4", url: "https://docs.realfi.co/risks-and-disclaimer/legal-disclaimer.md" },
    { id: "S5", url: "https://docs.realfi.co/glass-box-approach/multi-layered-defence.md" },
    { id: "S6", url: "https://docs.realfi.co/compliance/jurisdictional-eligibility.md" },
    { id: "S7", url: "https://docs.realfi.co/compliance/aml-kyc-framework.md" },
    { id: "S8", url: "https://docs.realfi.co/frequently-asked-questions/what-wallets-will-be-supported-at-launch.md" },
    { id: "S9", url: "https://docs.realfi.co/getting-started/testnet-launch-functionality.md" },
    { id: "S10", url: "https://docs.realfi.co/frequently-asked-questions/how-can-i-redeem-usdrf.md" },
    { id: "S11", url: "https://docs.realfi.co/frequently-asked-questions/what-other-coins-can-i-swap-for-usdrf.md" },
    { id: "S12", url: "https://docs.realfi.co/glass-box-approach/overview.md" },
  ]}
/>


Tokenized funds

RealFi deploys reserve capital into a diversified portfolio of real-world assets including U.S. Treasuries, money market funds, investment grade CLO ETFs, floating-rate corporate notes and private credit. The RealFi treasury reconciles borrower repayments off-chain, then mints new USDrf on-chain to reflect realized profits and distributes it to sUSDrf holders through discrete weekly staking epochs, so each sUSDrf becomes redeemable for progressively more USDrf. The remainder of the income is allocated to a configurable treasury address. sUSDrf is the risk-absorbing layer and takes portfolio losses before USDrf holders are affected.

RealFi issues USDrf, a reserve-backed digital dollar, and sUSDrf, a non-rebasing staked token received by staking USDrf. USDrf is backed 1:1 by a reserve portfolio anchored by a liquidity buffer of U.S. Treasury bills and tokenized money market funds, supplemented by liquid floating-rate credit and short-tenor, senior-secured private credit. Cardano is the canonical chain for supply accounting, and a burn-and-mint bridge extends USDrf and sUSDrf to EVM networks.

RealFi is a stablecoin ecosystem built on Cardano. USDrf and sUSDrf are issued by separate British Virgin Islands business companies, while the protocol technology and its oversight are governed by Cayman Islands foundation companies.

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RealFi

RealFi Staked USDrf (sUSDrf) is a tokenized fund share issued by RealFi through RealFi Yield Ltd.

The fund is open-ended and invests in U.S. multi-asset.

Accredited investors and institutions can subscribe and redeem in USDrf after completing KYC, and holders have a right to redeem at net asset value.

RealFi Yield Ltd. is incorporated in the British Virgin Islands.

sUSDrf has been issued on Cardano as a Cardano native asset token since June 2026.

RealFi Staked USDrfsUSDrf

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