PrimeUSD Leverages Top-Rated Tokenized Treasury Fund in New Product

Resolv Labs is folding the Janus Henderson-managed JTRSY token, the highest-rated tokenized Treasury fund, into its PrimeUSD leveraged yield product. The move puts short-term US government debt to work as collateral inside a permissioned DeFi structure.

JTRSY launched in 2024 as a BVI-regulated fund. It invests in Treasury bills with maturities under six months. S&P Global Ratings assigned it AA+f/S1+, the top mark among tokenized funds. Moody's gave it an Aa rating. Moody's Corporation, the parent, holds an Alpha Score of 62, indicating moderate sector risk.

The fund's assets under management sit between $400 million and $870 million. Its management fee runs about 25 basis points.

PrimeUSD accepts deposits in USDC and USDT. It deploys those deposits into JTRSY and similar assets to create Treasury yield exposure. The leveraged component comes from approved DeFi money markets. PrimeUSD uses those venues to amplify returns. It targets institutional participants and remains in private beta. A public launch is expected around June 2026.

Leverage cuts both ways. Disruption in the underlying lending protocols or a sharp move in Treasury yields could stress the product. The permissioned structure reduces some counterparty risk. It does not eliminate it. Regulatory questions persist. JTRSY's BVI registration covers the fund itself. The interaction with DeFi infrastructure creates jurisdictional overlap that product issuers will need to address as scale grows.

Tokenized Treasuries on-chain now exceed $15 billion in transferable value. The broader tokenized real-world asset market stands above $32 billion.

PrimeUSD's beta test will determine whether institutional demand matches the product's ambition. The June 2026 target gives Resolv Labs time to refine both the technology and the regulatory approach.