category.tokenised_bonds.label

Does this token convey a claim on the bond, or merely track its price?

What is your investor class, and does this issue admit you at your ticket size?

Do you need to exit before maturity, and does a secondary market exist for this specific issue?

AMF-approved tokenised money market fund holding Eurozone Treasury bills. Strongest on who can legally buy it (10/10): The only genuinely retail-open product in this comparison. Minimum initial deposit is €1, and the fund accommodates individuals as well as business entities with separate account management. Regulated and marketed in the EU under AMF approval, with no professional-investor or accredited-investor gate. Weakest on what the token legally conveys (6/10): Structurally the cleanest wrapper on the list — a share in an AMF-approved French money market fund with a real ISIN (FR001400ODL1), assets at CACEIS Bank rather than on the sponsor's balance sheet, and fund accounting handled by the depositary. But it is disqualified on substance for this category: the fund 'invests… Published price: Management fee 0.25% annually, 'deducted daily on a prorated basis'. Minimum initial deposit €1. No transaction fees on deposits or withdrawals; no custody fees. 'Daily liquidity is contractually guaranteed by the fund's prospectus.' Fund: Spiko EU T-Bills…

Best for: Who can legally buy it — 10/10

Tokenised short-term US government bond fund, qualified investors only. Strongest on redemption mechanics and settlement (9/10): Best-in-class redemption of anything on this list: 'Instant redemptions occur immediately', converting OUSG to USDC at current NAV — redeemed tokens multiplied by NAV, paid out in USDC at $1.00 per unit. Minimum redemption $5,000 instant, $50,000 non-instant. Same-transaction settlement rather than a T+1 or T+2 fund… Weakest on who can legally buy it (3/10): Gated to Ondo's Qualified Access Funds onboarding — 'Any investor eligible to invest in any of our Qualified Access Funds (and who has completed onboarding) may invest in OUSG.' The ticket sizes do the excluding: $5,000 minimum for instant transactions and $100,000 minimum investment for non-instant. Reported… Published price: 'Our management fee for OUSG remains low at 0.15%. This fee has been waived until January 1, 2027.' Instant transactions: $5,000 minimum. Non-instant: $100,000 minimum investment, $50,000 minimum redemption. 'The OUSG portfolio is invested in funds issued by…

Best for: Redemption mechanics and settlement — 9/10

EU-licensed DLT trading and settlement venue for tokenised securities. Strongest on what the token legally conveys (8/10): Structurally the strongest position in the category alongside Obligate, and for the same reason: under the DLT Pilot Regime the traded token is itself the financial instrument, not a derivative of one. 21X describes trading in 'DLT financial instruments' settled against 'e-money tokens' on 'the first EU regulated… Weakest on full fee stack vs the untokenised equivalent (3/10): No fee schedule of any kind is published on 21x.eu — no trading fee, no settlement fee, no listing fee, no membership fee. A regulated venue that publishes no tariff cannot be cost-compared against a conventional MTF, and a buyer cannot estimate all-in cost before onboarding. Published price: Not published. 21x.eu discloses no fee schedule and lists no specific tradable instruments on its public site (fetched 5 August 2026). The site states the platform 'is now live for trading' and offers 'smart contract-enabled matching and settlement'.

Best for: What the token legally conveys — 8/10