The US Mon­ey (USMO) token pro­vides expo­sure to the UBS (Irl) USD Sus­tain­able Mon­ey Mar­ket Fund with accu­mu­lat­ing yield pro­vid­ing qual­i­fied and insti­tu­tion­al investors direct access to a yield-bear­ing instru­ment on the Poly­gon blockchain.

USMO tokens rep­re­sent dig­i­tal notes issued by BMCP Secu­ri­ties S.à r.l., act­ing on behalf of its ded­i­cat­ed Tok­enized MMF Com­part­ment. The core objec­tive of the USMO offer­ing is to mir­ror the per­for­mance of the under­ly­ing asset. The fund invests in short-term debt secu­ri­ties issued by U.S. and non‑U.S. gov­ern­ments and cor­po­rates, with all expo­sure denom­i­nat­ed in USD to avoid FX risk.

USMO rep­re­sents a tok­enized note offer­ing qual­i­fied and insti­tu­tion­al investors inter­est­ed in short-term yield prod­ucts inno­v­a­tive access to the UBS (Irl) USD Sus­tain­able Mon­ey Mar­ket Fund (MMF). This prod­uct is issued by Black Man­ta Cap­i­tal Part­ners, with tok­eniza­tion tech­nol­o­gy and dis­tri­b­u­tion sup­port from SBI Dig­i­tal Markets.

The offer­ing is avail­able for sub­scrip­tion and redemp­tion through 21X, Europe’s first ful­ly reg­u­lat­ed DLT trad­ing and set­tle­ment sys­tem. The 21X plat­form unique­ly allows pro­fes­sion­al investors to invest in these tok­enized secu­ri­ties using sta­ble­coins direct­ly from their wallets.

Pri­mar­i­ly tar­get­ing pro­fes­sion­al investors, finan­cial insti­tu­tions, bro­ker­age firms, and trea­suries, this ini­tia­tive address­es the increas­ing inter­est in the tok­eniza­tion of real-world assets, par­tic­u­lar­ly mon­ey mar­ket funds. The demand for such reg­u­lat­ed, acces­si­ble short-term yield prod­ucts is sig­nif­i­cant­ly dri­ven by the syn­er­gy of reg­u­lat­ed sta­ble­coins and the needs of wal­let-based investors. Project USMO’s intro­duc­tion on the 21X plat­form cap­i­tal­izes on these mar­ket devel­op­ments, advanc­ing inno­va­tion and com­pli­ance with­in cap­i­tal mar­kets by pro­vid­ing access to tra­di­tion­al finan­cial prod­ucts, like the UBS MMF, through a mod­ern, tok­enized struc­ture on a DLT-based system.

This active­ly man­aged fund aims to max­i­mize cur­rent income in USD, while pri­or­i­tiz­ing liq­uid­i­ty and cap­i­tal preser­va­tion. Its invest­ment strat­e­gy cen­ters on high-qual­i­ty, short-term, USD-denom­i­nat­ed debt secu­ri­ties issued by a diverse range of U.S. and non‑U.S. gov­ern­men­tal bod­ies and oth­er enti­ties. The fund is clas­si­fied as a Short Term MMF-LVNAV (Low Volatil­i­ty Net Asset Val­ue mon­ey mar­ket fund) and uses the SOFR Index (Secured Overnight Financ­ing Rate) for per­for­mance comparison.

The UBS (Irl) USD Sus­tain­able Mon­ey Mar­ket Fund P (Acc) is a UCITS-com­pli­ant fund domi­ciled in Ire­land and demon­strates a strong com­mit­ment to high cred­it qual­i­ty. It holds an AAAmmf rat­ing from Fitch Rat­ings and an Aaa-mf rat­ing from Moody’s. These rat­ings sig­ni­fy an extreme­ly strong capac­i­ty to achieve its invest­ment objec­tive of pre­serv­ing prin­ci­pal and pro­vid­ing share­hold­er liq­uid­i­ty by lim­it­ing cred­it, mar­ket, and liq­uid­i­ty risks.

As of Feb­ru­ary 28, 2025, the under­ly­ing share class held assets val­ued at $610.4 mil­lion, with a 7‑day net yield of 4.03% and a 30-day net yield of 4.04%. The total assets of the under­ly­ing MMF Fund reached $9.84 bil­lion on this date.

Port­fo­lio Composition

Com­mer­cial Papers (54.1%), Cer­tifi­cate of Deposit (15.4%), Repur­chase Agree­ment (14.5%), Asset-Backed Com­mer­cial Paper (9.4%), Deposit (6.6%) — invest­ments were large­ly con­cen­trat­ed in A1 (53.3%) and A1+ (46.5%) rat­ed securities.

Under­ly­ing Fund Per­for­mance YTD (in %, per May 15, 2025)

21X is a Frank­furt-based finan­cial insti­tu­tion at the fore­front of rev­o­lu­tion­iz­ing cap­i­tal mar­kets through the use of blockchain tech­nol­o­gy.  In Decem­ber 2024, 21X secured a license to oper­ate its ground­break­ing dis­trib­uted ledger tech­nol­o­gy trad­ing and set­tle­ment sys­tem (DLT TSS) a mile­stone that places the com­pa­ny as a leader in the tran­si­tion to dig­i­tal finance. The com­pa­ny is ide­al­ly posi­tioned to enable smart con­tract-based issuance, trad­ing and set­tle­ment of tok­enized stocks, bonds and funds.

Oper­at­ing as Trad­ing Venue, Mar­ket Oper­a­tor and List­ing Sponsor.

Web: https://21x.eu/

SBI Dig­i­tal Mar­kets is a sub­sidiary of SBI Dig­i­tal Asset Hold­ings, the dig­i­tal asset arm of Japan’s lead­ing con­glom­er­ate SBI Group. With the largest secu­ri­ties account cus­tomer base and sec­ond-largest trad­ing mar­ket in Japan, SBI Group has a glob­al net­work across 26 coun­tries and regions includ­ing key mar­kets in Asia and Europe. SBI Dig­i­tal Mar­kets offers clients a com­pre­hen­sive dig­i­tal­i­sa­tion frame­work from orig­i­na­tion, tokeni­sa­tion, dis­tri­b­u­tion to cus­to­di­an ser­vices across tra­di­tion­al and Web 3 product.

Oper­at­ing as Tok­eniza­tion Agent, Cus­to­di­an and Broker.

Web: http://www.sbidm.com/

Our Lux­em­bourg-based secu­ri­ti­za­tion vehi­cle — BMCP Secu­ri­ties S.à r.l. — offers a com­part­ment struc­ture, which seg­re­gates assets and lia­bil­i­ties for each dis­tinct issuance, pro­tect­ing each com­part­ment from the risks asso­ci­at­ed with oth­er com­part­ments and assets. The vehi­cle oper­ates under Lux­em­bourg’s robust legal frame­work and is designed to accom­mo­date diverse finan­cial instru­ments and mar­ket access.

Read more here: https://blackmanta.capital/securitization/

About Black Man­ta Cap­i­tal Partners

Black Man­ta Cap­i­tal Part­ners is a next gen­er­a­tion invest­ment bank focused on dig­i­tal and tok­enized assets, oper­at­ing a ful­ly reg­u­lat­ed invest­ment plat­form for issuances in the Euro­pean cap­i­tal mar­ket, as well as a Secu­ri­ti­za­tion Vehi­cle out of Lux­em­bourg. With offices in Europe, Asia and Amer­i­c­as, Black Man­ta Cap­i­tal offers full-ser­vice sup­port for all tech­ni­cal, finan­cial, and legal aspects of asset and secu­ri­ty tok­eniza­tion on a glob­al scale.