2WA tokenizes the USDGO Plus SP fund on Solana

Units for professional investors in Hong Kong

On 12 October, Solana wrote on X that 2WA is bringing the USDGO Plus SP fund on-chain on Solana. USDGO wrote the same thing the same day. Both posts say OSL tokenizes the fund and distributes it to eligible professional investors in Hong Kong.

OSL’s release of 8 October describes tokenization, custody, and distribution, and it does not name a chain. OSL Group, listed in Hong Kong as 863, says it has tokenized the units of PrimePlus SPC – USDGO Plus SP, holds them in custody, and distributes them. USDGO, the underlying asset, is in custody at OSL as well. Subscriptions and redemptions go through the OSL HK app.

PrimePlus SPC is a Cayman Islands segregated portfolio company. USDGO Plus SP is one of its portfolios. OSL says the fund launched in August 2026 on the 2WA ecosystem, and calls it the first market-neutral fund built on the USDGO stablecoin.

USDGO, custody, and the strategy

Anchorage Digital Bank N.A. issues USDGO. OSL is the brand operator and distributor. OSL says the stablecoin is pegged 1:1 to the US dollar, backed by cash and short-term US Treasuries, and subject to third-party audits.

Solana’s post puts the stablecoin at more than $1 billion. USDGO’s post puts it at more than $1.2 billion. OSL says its digital-asset insurance coverage in Hong Kong is more than $1 billion.

OSL says the fund seeks market-neutral returns by capturing funding-rate spreads in crypto derivatives, without a directional price bet. As of 7 October, OSL reports 16.67% since inception and 17.05% annualized over the trailing 30 days, both before the relevant fees.

Subscriptions, redemptions, and net asset value update daily. On 8 October, OSL said an optional same-day redemption, T+0, would come later in October.

OSL’s disclaimer says the products may be “specified stablecoins” under the Stablecoin Ordinance (Cap. 656). The issuers and OSL Digital Securities Limited are not licensed under that ordinance to conduct “regulated stablecoin activities” in Hong Kong. OSL Digital Securities Limited is a “permitted offeror” and offers the products in Hong Kong only to clients it has verified and accepted as professional investors.

The Pando Solana ETF is a different Hong Kong product. It holds SOL directly. HKEX trading is set for 13 October.

What to watch

• Whether OSL names Solana in its own release
• Whether the T+0 redemption announced on 8 October is switched on
• Whether a method and an as-of date are published for the “more than $1 billion” and “more than $1.2 billion” figures
• Whether OSL publishes the stated return after fees, with the calculation
• Whether a public mint address for the fund units appears

Sources

• Solana — Post, 12 October 2026, 12:58 p.m. Berlin
• USDGO — Post, 12 October 2026, 1:12 p.m. Berlin
• OSL Group — Release, 8 October 2026
• SOLANA·HUB — Pando Solana ETF