Key Takeaways
- • OSL Group has tokenized the USDGO Plus SP fund on-chain and will provide custody and distribution for its tokenized units through its SFC-licensed Hong Kong platform, according to a PR Newswire release dated October 8, 2026.
- • USDGO Plus SP is described as the first market-neutral fund built on USDGO, a U.S. federally regulated, dollar-backed stablecoin issued by Anchorage Digital Bank N.A.
- • As of October 7, 2026, the fund reported a 16.67% return since inception and a 17.05% annualized return over the trailing 30 days, before fees.
- • The fund is offered only to eligible professional investors in Hong Kong, with daily subscriptions and redemptions and a planned optional T+0 express redemption feature later in October.
- • The fund is a segregated portfolio of Cayman-domiciled PrimePlus SPC, launched by digital asset technology firm 2WA in August 2026, and has not been authorized by the SFC.
Summary
OSL Group (HKEX: 863) has been engaged to power the on-chain tokenization of PrimePlus SPC - USDGO Plus SP, a digital asset fund launched by 2WA, according to a PR Newswire release dated October 8, 2026. Beyond tokenizing the fund, OSL will act as the licensed platform providing custody and distribution for the fund's tokenized units, and the USDGO underlying the fund is also held in custody with OSL. Eligible professional investors can subscribe to and redeem from the fund through the app of OSL HK, the company's Hong Kong licensed digital asset trading platform.
The fund seeks market-neutral returns by capturing funding-rate spreads in crypto derivatives markets without relying on directional price movements. The release states that as of October 7, the fund had returned 16.67% since inception and 17.05% annualized over the trailing 30 days, before deducting relevant fees. Daily subscriptions, redemptions and net asset value updates are supported, and an optional T+0 express redemption feature is slated to launch later in the month.
USDGO is pegged 1:1 to the US dollar and backed by cash and short-term US Treasuries, subject to third-party audits. It is issued by Anchorage Digital Bank N.A., which the release describes as the first federally chartered crypto bank in the United States, with OSL serving as brand operator and distributor. OSL states it holds multiple security certifications and digital asset insurance coverage exceeding US$1 billion in Hong Kong.
PrimePlus SPC is a Cayman Islands segregated portfolio company, and the fund is offered only to professional investors in Hong Kong. The release notes the fund has not been authorized by the Securities and Futures Commission under Section 104 of the Securities and Futures Ordinance, and that market-neutral strategies do not eliminate risk and funding rates may turn negative. Terence Pu, Senior Vice President and Head of Hong Kong Business at OSL, and Eugene Cheung, Founder and CEO of 2WA, both framed the launch as evidence of institutional demand for compliant digital asset infrastructure.
The fund seeks market-neutral returns by capturing funding-rate spreads in crypto derivatives markets without relying on directional price movements. The release states that as of October 7, the fund had returned 16.67% since inception and 17.05% annualized over the trailing 30 days, before deducting relevant fees. Daily subscriptions, redemptions and net asset value updates are supported, and an optional T+0 express redemption feature is slated to launch later in the month.
USDGO is pegged 1:1 to the US dollar and backed by cash and short-term US Treasuries, subject to third-party audits. It is issued by Anchorage Digital Bank N.A., which the release describes as the first federally chartered crypto bank in the United States, with OSL serving as brand operator and distributor. OSL states it holds multiple security certifications and digital asset insurance coverage exceeding US$1 billion in Hong Kong.
PrimePlus SPC is a Cayman Islands segregated portfolio company, and the fund is offered only to professional investors in Hong Kong. The release notes the fund has not been authorized by the Securities and Futures Commission under Section 104 of the Securities and Futures Ordinance, and that market-neutral strategies do not eliminate risk and funding rates may turn negative. Terence Pu, Senior Vice President and Head of Hong Kong Business at OSL, and Eugene Cheung, Founder and CEO of 2WA, both framed the launch as evidence of institutional demand for compliant digital asset infrastructure.
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