OnChain collaborates with Cactus Custody to launch an on-chain tokenization of the US dollar fund, creating a new model for RWA.

[Block Rhythm] On August 21, OnChain partnered with Cactus Custody to operate the China Merchants International US Dollar Money Market Fund in a tokenized format (RWA) on-chain, providing investors with auditable on-chain investment options. The fund was established on February 2, 2024, and as of July 31, 2025, it ranks first in its category in Bloomberg Asia-Pacific, leading the market with characteristics such as transparency, low fluctuation, and verifiable net asset value. This cooperation directly addresses four major pain points in on-chain wealth management:

· There is a lack of on-chain custodial audited cash equivalents;

· The efficiency of switching between bank and on-chain funds is low;

· It is difficult to unify risk control audits across multiple jurisdictions;

· Multi-chain liquidity dispersion;

OnChain provides RWA on-chain technology services, net asset value off-chain calculation for periodic on-chain updates, and shareholding and transfers are controlled by whitelists and quotas. It optimizes the redemption experience through its self-developed liquidity mechanism and liquidity contracts. Cactus Custody offers institutional-level custody services, employing multiple approval, multi-signature mechanisms, and cold-hot separation storage as multi-layered security measures, along with daily reconciliation and periodic audits to ensure consistency between accounts and actual assets, strictly isolating on-chain assets from operational funds, and preventing risks such as hacker attacks or internal operational errors. This provides OnChain users with bank-level investment security guarantees, maximizing the protection of user assets from on-chain fluctuations and external threats.

More importantly, this is not just a fund on-chain, but a replicable RWA template. By running the entire process through a currency fund, it can later be expanded to include note pools, short-term debt, and passive products, constructing a sustainable RWA product line and enriching the on-chain wealth management product ecosystem.