OSL Tokenizes 2WA USDGO Plus SP Fund on Solana, Secures Custody

Hong Kong Fund Tokenizes Market-Neutral Strategy on Solana

A Hong Kong-based fund aiming to generate yield without taking directional bets on cryptocurrency prices has now been tokenized on the Solana blockchain.

2WA has tokenized its USDGO Plus SP fund, with OSL Group (HKEX: 863) providing custody services. The announcement was made on October 8, 2026. 2WA describes the product as the first market-neutral fund structured around a U.S. dollar-backed stablecoin.

The fund, formally known as PrimePlus SPC’s USDGO Plus SP, was developed and launched by 2WA in August 2026. It operates using USDGO, a stablecoin pegged to the U.S. dollar.

Access to the fund is restricted to eligible professional investors in Hong Kong.

Investors can access the fund through the OSL HK mobile application, which provides real-time net asset value (NAV) updates, allowing holders to monitor the value of their units at any time.

The fund facilitates daily subscriptions and redemptions. A T+0 express redemption feature is slated for release in late October 2026.

OSL is responsible for the custody of the fund’s assets, including the underlying USDGO stablecoin. Its Hong Kong custody operation is insured for over $1 billion in digital assets.

The fund’s investment strategy focuses on exploiting funding-rate arbitrage opportunities within cryptocurrency derivatives markets, deliberately avoiding directional exposure.

In perpetual futures markets, a periodic fee, known as the funding rate, is typically paid by traders on one side to those on the other. This mechanism is designed to keep the futures contract price closely aligned with the price of the underlying asset.

Performance and Structure

Early performance indicators for the fund appear robust. As of October 7, 2026, the fund reported a 16.67% return since its inception. Its annualized return over the preceding 30 days stood at 17.05% before fees.

It is important to note that the fund launched in August 2026, meaning the 16.67% return figure represents a relatively short period. Additionally, 30-day annualized returns can be volatile, as they extrapolate a single month’s performance over a full year.

A key structural aspect of the fund is that its tokenized units are housed within a traditional fund vehicle. The blockchain layer operates on top of, rather than replacing, the regulated framework.

OSL views this launch as a significant step towards integrating traditional finance with digital asset technology. The firm is positioning itself as a provider of the essential regulated infrastructure for such products, encompassing custody, compliance, and distribution via its application.

The primary target audience is Hong Kong’s professional investor base. For these investors, the proposition is clear: they can achieve crypto-native yield without needing to speculate on the future price movements of Bitcoin or other digital assets.

Funding-rate strategies are contingent on the continued payment of fees by traders. Market cooling or shifts in trading positions can lead to a reduction or even negative funding rates. Therefore, a 17.05% annualized figure derived from a single 30-day period should be considered a snapshot rather than a guarantee.

Investors should also take into account the “before fees” qualifier on the reported returns, as net returns will be lower after expenses are deducted.

The custody arrangement is a notable selling point. The availability of over $1 billion in insurance coverage and the involvement of a publicly listed custodian offer a degree of familiarity and security for more cautious investors.

The planned T+0 redemption feature is particularly noteworthy. Same-day liquidity represents one of the most significant advantages that tokenized funds can offer over traditional investment structures. If OSL successfully implements this feature in late October 2026 as planned, it will establish a tangible benefit that competitors will likely need to emulate.