NVT assists in the issuance of Liquid STBL: a tokenized US dollar money market investment note with on-chain registration and instant blockchain settlement

Leading tokenization infrastructure and operational service provider NVTHK Limited (abbreviated as "NVT") today announced its support for the issuance of Liquid STBL. Liquid STBL is a tokenized investment note denominated in US dollars, backed by a portfolio of money market funds ("MMFs"), issued by USD MMF Tokenized Note Ltd (the "Issuer"), with Songgang International Securities Group Limited (abbreviated as "Songgang") acting as the arranger. This product introduces short-term money market exposure into blockchain infrastructure. NVT serves as the technology/on-chain infrastructure provider for the issuance and operation of Liquid STBL.

Liquid STBL is the next-generation product of short-term asset-backed liquidity notes token ("STBL"). NVT previously collaborated with Cinda International Asset Management Limited (abbreviated as "Cinda International Asset Management") in December 2024 to assist in the issuance of STBL on the Ethereum blockchain. STBL is the first transferable tokenized packaged restructuring note arranged by a Hong Kong financial institution. Based on this, Liquid STBL migrates the noteholder register on-chain, enabling instant blockchain settlement for secondary market transfers and daily income distribution.

From STBL to Liquid STBL

Key Features of Liquid STBL

Investment note backed by money market assets: Liquid STBL is a debt instrument issued by the Issuer. Its returns come from the underlying portfolio of MMFs managed by CPI Capital Management (Singapore) Pte. Ltd. The portfolio assets are custodied by Bank of New York Mellon ("BNY").

Daily liquidity: Investors can submit redemption requests on any business day, with at least one business day’s notice required, subject to the product's redemption terms.

Daily income distribution: Investors receive distributable income in the form of newly issued Liquid STBL notes on each calendar day (including weekends and holidays).

Note structure of $1 each: Each note has a face value of $1. As income is paid in the form of newly issued notes, the number of notes held by investors increases over time, while the redemption value of each note aims to maintain at or near $1.

On-chain register and instant blockchain settlement: The noteholder register is maintained on-chain, allowing for instant settlement of transfers in the secondary market on the blockchain, thereby enhancing transparency, operational efficiency, and the ability to collaborate with other on-chain applications.

Trading Participants

Issuer: USD MMF Tokenized Note Ltd

Arranger: Songgang International Securities Group Limited

Investment Manager: CPI Capital Management (Singapore) Pte. Ltd.

Custodian of underlying portfolio assets: Bank of New York Mellon

Coordinating dealer and securities trustee: Mulan Investment Management Limited

Client agent, register manager, and blockchain agent: Plunkett Vision Partners Limited

Technology/on-chain infrastructure provider: NVTHK Limited

"Liquid STBL makes tokenized money market exposure easier to hold and transfer. The shift from monthly to daily distribution means investors receive income daily through newly issued notes, making income delivery closer to the way assets flow on-chain. As capital markets move towards longer trading hours and even a 7×24 hour model, daily distribution and on-chain registers are crucial foundations for this transformation."

------ Zhao Jiangong, Founder and CEO of NVT

"As the arranger, we are pleased to assist the Issuer in the structural design and arrangement of Liquid STBL. This product provides qualified professional investors with a new way to gain exposure to US dollar money market instruments, combining the investment note structure with daily distribution and on-chain transfer, representing a pragmatic step in the development of Hong Kong's tokenized securities market."

------ Songgang International Securities Group Limited

"Our expertise in portfolio and liquidity management helps connect traditional money market investments with daily on-chain income distribution. By coordinating the underlying portfolio with liquidity arrangements, we support daily distributions (including weekends and holidays) to Liquid STBL noteholders.

"This is where investment management expertise can play a practical role: adjusting existing investment processes to support more continuous income delivery as capital markets evolve to a 7×24 hour model."

------ Liu Jialing, Director, CPI Capital Management (Singapore) Pte. Ltd.

"Innovating within regulatory boundaries is challenging. As the coordinating dealer and securities trustee, we are honored to assist in the distribution of Liquid STBL to qualified investors, aligning compliant distribution with market demand under strict securities supervision, helping to enhance the tokenized securities market."

------ Wu Xuejing, Founder, Mulan Investment Management Limited

* This product is intended only for professional investors (as defined in the Securities and Futures Ordinance (Chapter 571) and its subsidiary legislation) and is not intended to be distributed or made available to any person in any jurisdiction where such distribution or use would violate applicable laws or regulations. Anyone reviewing this information is responsible for complying with all applicable laws and regulations in their relevant jurisdiction. The information provided is for reference only and does not constitute an invitation, offer, or recommendation to purchase or subscribe for any investment product, nor does it constitute an invitation to solicit such offers.

About NVT

NVT is a fintech company headquartered in Hong Kong, dedicated to building new markets for real-world assets on the blockchain. We provide end-to-end tokenization infrastructure and operational solutions for financial institutions and enterprises. Our tokenization system transforms economic assets—from traditional securities and funds to emerging asset classes—into compliant and accessible digital financial products.

As an early mover in the tokenization space, NVT has a successful track record of bringing assets on-chain:

In January 2024, assisted GF Securities (Hong Kong) in issuing Hong Kong's first tokenized securities under Hong Kong law;

In December 2024, assisted Cinda International Asset Management Limited in issuing tokenized money market notes STBL;

Assisted Jinzhou Asset Management in issuing tokenized limited partnership funds (LPF);

Assisted GF Securities in issuing the first batch of tokenized Renminbi (CNH) bonds; and

Formed a strategic alliance with Hong Kong Robot Group to co-build the first robot asset fundraising platform.

NVT's mission is to bring real-world assets on-chain through secure, compliant, and interoperable infrastructure. We position ourselves as market creators, collaborating with corporate partners and institutional clients to design, launch, and scale new markets for their assets. Our vision is an interconnected global capital market ecosystem that makes traditional financial assets and new asset classes more accessible, enabling transfers to be completed with lower friction and managed globally on a 7×24 hour basis.

Contact NVT

Liang Haiyan, Director of Investor Relations

Phone: 852-2522-3869

Official website: www.nvt.com.hk