Which tokenized US Treasury pays the highest yield right now — and who is allowed to buy it?
34 tokenized treasuries in our data state a yield. The highest right now is SAFO from Spiko at Interest rate 4.37% net of fees (spiko.io, 16 Oct 2026). The range runs from 0.24% (CHFSAFO) to 4.37%. 2 of them can be bought on a DEX without KYC. Yields are variable and not guaranteed.
Tokenized treasuries hold short-term government debt or a money-market fund and pass the interest to the token. The rates sit close together because the underlying is the same; what separates them is the minimum, who may buy, and whether the token trades freely.
How this list is made: computed from the live TokenBank dataset each time the page is built — 34 matching rows, each linked to its own page and source.
Figures from our live dataset · data as of 2026-10-19 · this answer as JSON · not investment advice
| Token | Issuer | Yield / return | Minimum | KYC to buy | Chain |
|---|---|---|---|---|---|
| SAFO Spiko Dollar (Spiko Amundi Overnight Swap Fund, USD share class) | Spiko | Interest rate 4.37% net of fees (spiko.io, 16 Oct 2026) date not stated | $1 | Not stated | Ethereum / Polygon PoS / Arbitrum One (+4) |
| WTTSX WisdomTree 3-7 Year Treasury Digital Fund | WisdomTree Prime / WisdomTree Connect | SEC 30 Day Yield 4.19%, Distribution Yield 3.67%, Yield to Maturity 4.21% (as of 06/30/2026) date not stated | — | Not stated | Ethereum / Arbitrum / Avalanche (+5) |
| GBPSAFO Spiko Pound (Spiko Amundi Overnight Swap Fund, GBP share class) | Spiko | Net yield 4.17% net of fees (spiko.io, 16 Oct 2026) date not stated | £1 | Not stated | Ethereum / Polygon PoS / Arbitrum One (+4) |
| USTBL Spiko US T-Bills Money Market Fund | Spiko (SICAV, France) | 3.82% (net of fees, last 31 days) checked 19 Oct 2026 | €1 (≈$1,000 practical) | Not stated | Stellar / Ethereum |
| BENJI Franklin OnChain US Government Money Fund | Franklin Templeton | 3.73% (7-day current yield, 30 Sep 2026) checked 19 Oct 2026 | Low (Benji app) | Not stated | Stellar / Base / Ethereum |
| LU-DLT-BENCH-2036 Grand Duchy of Luxembourg — Luxembourg 3.70% 10-year DLT-native sovereign benchmark bond | Grand Duchy of Luxembourg | 3.7% coupon checked 15 Oct 2026 | — | Not stated | Issued through LuxCSD on Clearstream's D7 DLT platform; Spuerkeess lead manager |
| USDY Ondo US Dollar Yield | Ondo Finance | ~3.69% checked 18 Oct 2026 | ~$50 (secondary market) | No KYC on a DEX | Ethereum / Solana (+10) |
| VBILL VanEck Treasury Fund Ltd. | VanEck / Securitize | 7-Day Yield 3.66% net, as of 10/1/2026 date not stated | $100K (Avalanche/BNB/Solana), $1M (Ethereum) | Not stated | Bnb / Avalanche / Ethereum (+1) |
| HKGB-DIGI-2025-USD HKSAR Government — Digital Green Bond 2025 (USD 3-year tranche) | HKSAR Government | 3.633% coupon checked 15 Oct 2026 | — | Not stated | HSBC Orion |
| BUIDL BlackRock USD Institutional Digital Liquidity Fund | BlackRock / Securitize | ~3.59% checked 25 Aug 2026 · over 30 days old | $5M (institutional) | Not stated | Ethereum (+8) |
| JTRSY Janus Henderson Anemoy Treasury Fund | Anemoy / Janus Henderson (Centrifuge) | ~3.59% checked 25 Aug 2026 · over 30 days old | $500,000 (institutional) | Not stated | Ethereum (+6) |
| OUSG Ondo Short-Term US Government Treasuries | Ondo Finance | ~3.56% checked 18 Oct 2026 | $5,000 | Not stated | Ethereum / Solana / Polygon |
| UKTBL Spiko UK T-Bills Money Market Fund | Spiko | Current net yield 3.56% (net of fees, last 31 days; spiko.io, 16 Oct 2026) date not stated | £1 or €1 | Not stated | Ethereum / Polygon PoS / Arbitrum One (+4) |
| WTGXX WisdomTree Treasury Money Market Digital Fund | WisdomTree | ~3.5% date not stated | Low (app-based) | Not stated | Stellar / Ethereum (share records) |
| STBT Short-Term Treasury Bill Token | Matrixdock | 30d Avg. APY after fees 3.50% (matrixdock.com/stbt, 16 Oct 2026) date not stated | — | Not stated | Ethereum / BNB Chain / Arbitrum |
| mTBILL Midas mTBILL | Midas | ~3.42% (tracks T-bills) checked 18 Oct 2026 | None | No KYC on a DEX | Ethereum (+L2s, Algorand) |
| TBILL OpenEden TBILL | OpenEden | ~3.37% (T-bill level) checked 18 Oct 2026 | KYC onboarding; verify current minimum | Not stated | Ethereum / Arbitrum |
| USTB Superstate Short Duration US Government Securities Fund | Superstate / Invesco | ~3.35% (T-bill level) checked 18 Oct 2026 | Qualified purchasers (high) | Not stated | Ethereum / Solana |
| USYC Circle USYC | Circle (Hashnote Intl. Short Duration Yield Fund) | ~3.17% (T-bill level) checked 18 Oct 2026 | Institutional channels | Not stated | Ethereum / Solana / Canton / Sui |
| EURSAFO Spiko Euro (Spiko Amundi Overnight Swap Fund, EUR share class) | Spiko | Net yield 2.84% net of fees (spiko.io, 16 Oct 2026) date not stated | €1 | Not stated | Ethereum / Polygon PoS / Arbitrum One (+4) |
| HKGB-DIGI-2025-EUR HKSAR Government — Digital Green Bond 2025 (EUR 4-year tranche) | HKSAR Government | 2.512% coupon checked 15 Oct 2026 | — | Not stated | HSBC Orion |
| HKGB-DIGI-2025-HKD HKSAR Government — Digital Green Bond 2025 (HKD 2-year tranche) | HKSAR Government | 2.5% coupon checked 15 Oct 2026 | — | Not stated | HSBC Orion |
| EUTBL Spiko EU T-Bills Money Market Fund | Spiko (SICAV, France) | 2.41% (net of fees, last 31 days) checked 19 Oct 2026 | €1 (≈€1,000 practical) | Not stated | Stellar / Ethereum / Base |
| HKGB-DIGI-2025-RMB HKSAR Government — Digital Green Bond 2025 (RMB 5-year tranche) | HKSAR Government | 1.9% coupon checked 15 Oct 2026 | — | Not stated | HSBC Orion |
| CH1232107172 1.625 St. LU 23-29 | City of Lugano | 1.625% (register description) checked 16 Oct 2026 | CHF 5,000 | Not stated | SDX DLT (private permissioned ledger, SIX Digital Exchange CSD) |
| CH1306117073 1.45 Kt ZH 23-34 | Canton of Zurich | 1.45% checked 16 Oct 2026 | CHF 5,000 | Not stated | SDX DLT (private permissioned ledger, SIX Digital Exchange CSD) |
| CH1319968462 1.415 St. LU 24-34 | City of Lugano | 1.415% checked 16 Oct 2026 | CHF 5,000 | Not stated | SDX DLT (private permissioned ledger, SIX Digital Exchange CSD) |
| CH1265890678 1.3 Bond 23-27 Kt. BS | Canton of Basel-Stadt | 1.30% (register description; BKB result notice) checked 16 Oct 2026 | CHF 5,000 | Not stated | SDX DLT (private permissioned ledger, SIX Digital Exchange CSD) |
| CH1331113444 1.25 St SG 27 | City of St. Gallen | 1.25% checked 16 Oct 2026 | CHF 5,000 | Not stated | SDX DLT (private permissioned ledger, SIX Digital Exchange CSD) |
| CH1392903543 1.0 St. LUG 24-33 | City of Lugano | 1.00% checked 16 Oct 2026 | CHF 5,000 | Not stated | SDX DLT (private permissioned ledger, SIX Digital Exchange CSD) |
| CH1462229902 0.9525 Lug 35 TOK | City of Lugano | 0.9525% (register description) checked 16 Oct 2026 | CHF 5,000 | Not stated | SDX DLT (private permissioned ledger, SIX Digital Exchange CSD) |
| CH1562934682 0.95 St. LUG 26-36 | City of Lugano | 0.95% (final rate) checked 16 Oct 2026 | CHF 5,000 | Not stated | SDX DLT (private permissioned ledger, SIX Digital Exchange CSD) |
| CH1433241267 0.6125 StLug 32 | City of Lugano | 0.6125% (final rate) checked 16 Oct 2026 | CHF 5,000 | Not stated | SDX DLT (private permissioned ledger, SIX Digital Exchange CSD) |
| CHFSAFO Spiko Swiss Franc / 'Spiko Franc' (Spiko Amundi Overnight Swap Fund, CHF share class) | Spiko | Net yield 0.24% net of fees (spiko.io, 16 Oct 2026) date not stated | CHF 1 | Not stated | Ethereum / Polygon PoS / Arbitrum One (+4) |
How to choose
Start with who the product is for: several of these funds are open only to qualified or institutional investors, and the minimum column shows it. Then look at how you would hold it — a fund token that only moves between whitelisted wallets is a different thing from one you can sell on a DEX at any hour. The yield gaps between them are usually a fraction of a percentage point and move with short-term interest rates, so fees and access terms matter more than the headline rate. Euro products such as EUTBL hold euro government debt, so their rate follows the ECB, not the Fed.
More questions
Which one has the lowest minimum?
mTBILL (Midas), with no minimum. The highest stated minimum here is BUIDL, with minimum $5M (institutional).
Which of them can I buy without KYC?
2 of 34 can be bought on a DEX without identity verification: USDY, mTBILL. For the rest, the source does not state the secondary-market gate.
Where does the yield of the top five come from?
USTBL: Short-term US Treasury bills. BENJI: US government securities / repos.
Are these yields fixed?
20 of 34 are variable: the rate moves with markets and is not guaranteed. The figures on this page were last checked between 2026-08-25 and 2026-10-19.