Jul 2, 2026
TruBILL Is Live: Institutional U.S. Treasury Yield on Solana
Permissioned access, T+0 redemptions and onchain utility, backed by the ULTRA Fund. Tokenised Treasury yield built for how institutions operate.
Product Updates
Tokenised U.S. Treasury Yield
TruBILL
Institutional U.S. Treasury yield on Solana, with permissioned access, T+0 redemptions and onchain utility.
Confidently used by
TradFi & family offices
Permissioned access to tokenised U.S. Treasury yield, without taking on direct DeFi exposure.
PayFi & operational treasury
Yield on operational float with T+0 redemptions, supporting real-time settlement and payment flows.
Market makers & prop trading
Yield on idle stablecoin inventory with immediate access to liquidity when markets move.
What it is
U.S. Treasury Yield,Built for Onchain Utility
TruBILL gives institutions permissioned access to tokenised U.S. Treasury yield on Solana, combining defined onboarding and redemption workflows with onchain utility.
It is backed by the AAA-rated ULTRA Fund, managed by FundBridge Capital with Wellington Management as sub-manager.
An onchain USDC liquidity buffer and atomic liquidity partners support T+0 redemptions.
5-Step process
How TruBILL Works
01
Onboard
Complete permissioned KYC and KYB onboarding for access to TruBILL issuance and redemption.
02
Deposit USDC
Deposit USDC through the TruBILL workflow.
03
Issue TruBILL
Receive TruBILL as a tokenised receipt representing exposure to the underlying U.S. Treasury yield strategy.
04
Use Onchain
Use TruBILL across supported venues and integrations, subject to eligibility, venue support and counterparty requirements.
05
Redeem
Redeem TruBILL with T+0 redemptions, through a USDC liquidity buffer and liquidity partners.
TruBILL Key Features
FactsheetU.S. Treasury-Backed Yield
Gain tokenised exposure to U.S. Treasury yield, backed by the AAA-rated ULTRA Fund, with FundBridge Capital as fund manager and Wellington Management as sub-manager. Yield accrues daily via NAV.
Permissioned Access
TruBILL uses permissioned onboarding at issuance and redemption, supporting institutional compliance through KYC and KYB checks alongside defined approval processes.
Onchain Utility
TruBILL is designed for use across Solana venues and integrations, enabling collateral, treasury and strategy use cases where venue support is available.
T+0 Redemptions
TruBILL is designed to support T+0 USDC redemptions through an onchain liquidity buffer and a network of atomic liquidity partners, reducing T+1 and T+2 settlement drag for eligible flows.
Reporting Readiness
Defined lifecycle workflows, live Proof of Reserves and product documentation support internal oversight, reconciliation and stakeholder reporting.
Where TruBILL Fits
Treasury yield
Put idle USDC or USD-denominated onchain capital to work through tokenised U.S. Treasury exposure.
Operational liquidity
Support treasury and PayFi workflows where capital availability matters as much as headline yield.
Inventory parking
Help market makers and trading firms earn yield on idle stablecoin balances while maintaining immediate access to liquidity.
Collateral utility
Use TruBILL across supported DeFi venues including Kamino, Loopscale and Upshift, subject to eligibility, liquidity and venue support.
Strategy access
Deploy TruBILL into curated strategies and supported ecosystem integrations as they become available.
EcosystemOur partners
Built for Solana-nativeUtility
TruBILL is designed for institutions that want tokenised U.S. Treasury yield without isolating capital from the onchain ecosystem. Through supported integrations, TruBILL can be used across DeFi venues, treasury workflows and partner applications, subject to eligibility and venue support.
Built forInstitutional Standards
TruBILL is designed with security, transparency and operational controls in mind, built to support institutional risk management requirements.
Permissioned onboarding
KYC and KYB checks for access to issuance and redemption workflows.
Live Proof of Reserves
Reserve transparency designed to support product oversight and reconciliation.
Bankruptcy-remote BVI SPV
Product structuring designed to support institutional allocation requirements.
Independent audits
Smart contracts audited by Halborn.
Trust Centre
Audited by
FAQs
What is TruBILL?
TruBILL is a TruCore product that gives institutions permissioned access to tokenised U.S. Treasury yield on Solana, combining defined onboarding and redemption workflows with full onchain utility.
Who is eligible to access TruBILL?
TruBILL is available to approved institutional participants who complete permissioned onboarding, including KYC and KYB checks and defined approval processes. This includes asset managers, funds, digital asset treasuries and other regulated institutions. Retail participants are not eligible.
What does T+0 mean, and how does redemption work?
T+0 means same-day. TruBILL is designed to support T+0 redemptions through an onchain USDC liquidity buffer and atomic liquidity partners, subject to eligibility, liquidity availability and product documentation. Same-day redemption is supported for eligible flows rather than guaranteed in all conditions.
What backs TruBILL, and who manages the fund?
TruBILL is backed by the AAA-rated ULTRA Fund, which holds short-duration U.S. Treasury exposure. The fund is managed by FundBridge Capital, with Wellington Management as sub-manager. Yield accrues daily via NAV.
Is the ULTRA Fund AAA-rated?
Yes. TruBILL is backed by the ULTRA Fund (the Delta Wellington Ultra Short Treasury On-Chain Fund), which holds top ratings from two independent providers: a 'AAAf' fund credit quality rating from S&P Global Ratings, its highest category, and a 'AAA' rating from Particula. Both rating reports are publicly available: S&P Global Ratings and Particula.
How does custody work?
TruBILL is designed for non-custodial workflows, with institutional wallet infrastructure and qualified custodian integrations where supported.
Where can TruBILL be used onchain?
TruBILL is designed for use across supported Solana venues and integrations, enabling collateral, treasury and strategy use cases where venue support is available.
How is TruBILL secured and audited?
TruBILL uses permissioned issuance and redemption workflows, a bankruptcy-remote BVI SPV structure and live Proof of Reserves. Smart contracts are independently audited by Halborn, with full reports available in our Trust Centre.
What reporting is available?
Defined lifecycle workflows, live Proof of Reserves and product documentation support internal oversight, reconciliation and stakeholder reporting.
Latest News, Updates& Insights
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Matt Molloy on Security, Compliance & Scale in Onchain Yield
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