Dear HashKey Exchange Clients,
HashKey Earn Channel is pleased to announce the upcoming launch of Ondo Short-Term U.S. Treasuries Fund (OUSG) (the "Product").
OUSG is a tokenized investment product issued by Ondo Finance. The Product's underlying assets primarily consist of short-term U.S. Treasury securities and institutional money market funds, providing eligible investors with on-chain access to short-term U.S. Treasury exposure. The Product is issued in tokenized form, and HashKey Exchange will provide subscription and redemption services for eligible clients through the HashKey Earn Channel.
The Product has not been authorized by the Securities and Futures Commission of Hong Kong ("SFC") and is available only to eligible Professional Investors. Clients must complete all applicable client suitability assessments, product risk acknowledgements and other regulatory onboarding requirements before they are permitted to access the Product.
Product Details
| Item | Details |
| Product Name | Ondo Short-Term U.S. Treasuries Fund (OUSG) |
| Eligible Clients | Professional Investors |
| Subscription Currency | USDC |
| Subscription Settlement | Subscription orders submitted through HashKey Earn Channel will be processed on dealing days. Settlement timing is subject to the issuer's dealing, settlement and operational arrangements. |
| Redemption Settlement | Redemption orders submitted through HashKey Earn Channel will be processed on dealing days. Settlement timing is subject to the issuer's dealing, settlement and operational arrangements. |
| Dealing Frequency | Daily* |
| Daily Cut-off Time | 9:00 AM (HKT) |
| Minimum Subscription | 6,000 USDC |
| Minimum Redemption | 5,000 USDC (or equivalent OUSG tokens, subject to issuer requirements) |
| Fees | • Platform Subscription Fee: 0.1% • Platform Redemption Fee: 0.1% |
*Subscription and redemption requests may be submitted on a daily basis. Orders will be processed in accordance with the issuer's dealing and settlement arrangements. Orders submitted on U.S. public holidays or other non-dealing days of the issuer may be processed on the next available dealing day.
Note: The Product follows a fund subscription and redemption process. Subscription and redemption are not instantaneous, and settlement timing is subject to the issuer's dealing and settlement arrangements. Product terms, dealing arrangements, minimum transaction amounts, settlement timelines and other operational parameters may be updated from time to time based on the issuer's arrangements, regulatory requirements or platform operations. Please refer to the latest information displayed on the order page and official platform announcements.
Important Notes
Please read the following carefully before investing in the Product.
Client Eligibility
The Product is a complex tokenized investment product and is available only to eligible Professional Investors. Clients must complete all applicable client suitability assessments, product risk acknowledgements and other required regulatory procedures before they are permitted to transact in the Product.
Trading Arrangement
The Product adopts a Daily Batch Settlement model. Subscription and redemption orders received before the daily cut-off time will be aggregated and submitted to the issuer for processing. The final execution price and settlement timing are subject to confirmation by the issuer.
Subscription and redemption are not instantaneous, and settlement will be completed in accordance with the issuer's subscription, redemption and settlement arrangements.
USDC Subscription and Redemption
The Product currently supports subscription and redemption in USDC only. Fiat currencies and other digital assets are not supported for direct subscription or redemption.
Subscription Capacity and Order Execution
Subscription and redemption requests may be subject to the issuer's eligibility verification, operational arrangements, capacity limitations or other requirements determined by the issuer.
The issuer may delay, reject or decline any subscription or redemption request. Where an order cannot be executed, the relevant funds will be returned to the client's account in accordance with the applicable platform arrangements.
NAV and Order Execution
Transactions are executed based on the applicable Net Asset Value (NAV) confirmed by the issuer. U.S. public holidays, market closures or other special circumstances may affect NAV updates and order processing timelines.
Changes to Product Arrangements
HashKey Exchange may adjust, suspend or discontinue the Product or related services where required due to issuer arrangements, regulatory requirements, changes in applicable laws or regulations, or other unforeseen circumstances. Where reasonably practicable, clients will be notified in advance and any holdings will be handled in accordance with the applicable product arrangements and platform rules.
Transfer and Withdrawal Restrictions
The Product is not transferable between users on the HashKey Exchange platform and cannot be withdrawn to external blockchain wallets. Clients may exit their investment only by submitting redemption requests through HashKey Exchange in accordance with the issuer's applicable redemption procedures.
Product-Specific Risk Warnings
The Product is a complex tokenized investment product. Investors should carefully consider the risks associated with the Product, including but not limited to:
- The Product's underlying assets primarily invest in short-term U.S. Treasury securities and institutional money market funds. The value of the Product may be affected by changes in interest rates, market conditions, liquidity and other market factors.
- The Product utilizes blockchain technology and smart contracts for issuance and redemption and may therefore be subject to blockchain network, smart contract and other technology-related risks.
- The Product uses USDC as its settlement asset. The issuance, operation and supporting infrastructure of USDC may be affected by market conditions, regulatory developments or operational changes.
- Subscription and redemption are subject to the issuer's operational arrangements, capacity management and prevailing market conditions. HashKey Exchange does not guarantee that all orders will be successfully executed.
- The Product has a complex structure and may involve risks and operational arrangements that differ from those of traditional investment products. Investors should ensure that they fully understand the Product and its associated risks before making any investment decision.
- The performance of the Product may also be affected by the issuer, the underlying asset managers and other relevant service providers.
- Tokenized investment products are subject to evolving legal and regulatory frameworks, which may affect the issuance, trading, custody or redemption of the Product.
- The Product is not protected by any deposit protection scheme and does not guarantee principal or returns.
- Past performance, if any, is not indicative of future performance. Investors may lose part or all of their invested capital.
Investors should carefully review the Offering Documents, product documentation and applicable risk disclosures before making any investment decision, and independently determine whether the Product is suitable in light of their investment objectives, financial circumstances, risk tolerance and investment experience.
More Information
For further information, please refer to:
Notice on Management of Voting Rights for Virtual Assets
HashKey Exchange's policies concerning the handling of voting rights that may be associated with certain virtual assets traded on this platform:
- Non-Exercise of Voting Rights: HashKey Exchange does not exercise voting rights associated with virtual assets on behalf of its users. The role of HashKey Exchange is strictly to provide a trading platform for these assets, not to participate in the governance of any assets that may confer voting rights.
- Users' Exercise of Voting Rights: Users who wish to exercise any voting rights associated with their virtual assets are required to withdraw the respective assets from our platform.
HashKey Exchange encourages users to fully understand the rights associated with any virtual assets they may hold.
Legal disclaimer: This material has been prepared for general informational purposes only and should NOT be: (1) considered an individualized recommendation or advice; or (2) relied upon for any investment activities. All information is provided on an as-is basis and is subject to change without notice. We make no representation or warranty of any kind, express or implied, regarding the accuracy, validity, reliability, availability, or completeness of any such information. HashKey Exchange does NOT provide investment, legal, or tax advice in any manner or form. The ownership of any investment decision(s) exclusively vests with you after analyzing all possible risk factors and by exercising your own independent discretion. HashKey Exchange shall not be liable for any consequences thereof.
Risk warning and disclosure:
- Trading in tokenized investment products on HBL's Earn Channel and using the Product Dealing Services involves risks, some of which are set out below. These risks, and additional risks arising either now or in the future, could result in the loss, failure or destruction of your assets, inability to receive any benefits available to you, other losses and termination of our Product Dealing Services.
- You must consider carefully whether the risks set out below, as well as all other applicable risks (including those described in the offering documents of each product), are acceptable to you prior to any transaction in tokenized investment products on our Earn Channel.
- You must seek professional advice regarding your particular situation before transacting in tokenized investment products or using our Product Dealing Services.
- The risk of loss in transactions involving tokenized investment products can be substantial. You should therefore carefully consider whether such transactions are suitable for you in light of your investment objectives, financial circumstances, your tolerance to risks and your investment experience. You should be capable of bearing a full loss of the amounts invested as a result of or in connection with any transaction in tokenized investment products and any additional loss over and above the initial amounts traded or invested that may become due and owing by you. In considering whether to trade or invest, you should inform yourself and be aware of the risks generally, and in particular, should note the following specific risk factors which may apply to any given transaction in tokenized investment products.
- Whilst the information regarding the tokenized investment products on our channel may be helpful to you when making an investment decision, the information and data contained in this document are for reference only. It does not constitute (i) an offer, solicitation, invitation or recommendation for buying or selling the product or (ii) investment advice. You should therefore consider whether the information is appropriate for your needs.
- Past performance of a tokenized investment product is not a reliable indicator of future performance. Such historical performance data are calculated based on retrospective market conditions, technological infrastructure, and regulatory frameworks that may no longer apply. Such data does not constitute a guarantee, projection, or promise of future results. You should not base your investment decisions solely on historical performance data.
- Please refer to our Earn Channel Product Dealing Services – Risk Disclosure and Disclaimer for more information.
Hash Blockchain Limited
Hash Blockchain Limited is responsible for the issue of this material in Hong Kong. It is licensed by the Securities and Futures Commission for Types 1 and 7 regulated activities under the Securities and Futures Ordinance, and has obtained a license to operate a virtual asset trading platform under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). HashKey Exchange does not service users from Mainland China, United States and certain other jurisdictions in compliance with laws and regulations. This material has not been reviewed by the Securities and Futures Commission of Hong Kong or any other regulator.
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