Abaxx Tech completes prefeasibility study on MMFs

Mr. Josh Crumb reports ABAXX TO PILOT DIGITAL TITLE FRAMEWORK FOR TOKENIZED-USD MONEY MARKET FUNDS, TARGETING LEGAL FINALITY AND IDENTITY GAPS IN REAL-TIME COLLATERAL Abaxx Technologies Inc. has completed a prefeasibility study on the use of tokenized money market funds (MMFs) as financial collateral using Abaxx's proprietary ID++ and private digital title technologies. Building on its Q4 2025 gold-backed collateral pilot, the company is now advancing discussions with institutional partners to conduct a second pilot transaction in Q4 2025. This next phase will test how tokenized MMF shares -- when paired with Abaxx's legal and identity infrastructure -- can serve as legally enforceable, real-time collateral in regulated markets. The results will inform a full feasibility study and lay the foundation for the Abaxx USD Trust Network, as further detailed below. Key features of the second pilot Introduces the Abaxx USD Trust Network -- a legal-first infrastructure designed to turn tokenized MMF shares into identity-anchored, legally enforceable digital assets, thereby potentially solving the core challenge of real-world asset tokenization and unlocking access to the multitrillion-dollar high-quality liquid assets (HQLA) collateral market. Implements Abaxx's ID++ and private digital title technologies to issue digital documents of title designed to preserve confidentiality while meeting global legal standards, including the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Electronic Transferable Records (MLETR). Addresses legal finality and the insolvency gap -- the legal uncertainty that can arise when assets are held across different jurisdictions, a critical conflict of laws between legal regimes that threatens settlement finality of United States-dollar blockchain tokens when used in regulated clearing activities, including ability to access collateral with legal certainty in a default. Provides a privacy-preserving alternative to public ledger models, removing a key barrier to institutional adoption by keeping transaction data confidential from unrelated intermediaries, while still enabling regulatory compliance and capital-efficient collateral management. "The race to tokenize MMFs and the growth of stablecoins have rightly focused on efficiency gains, but they often sidestep the most critical challenge: the legal certainty required by regulated holders," said Josh Crumb, founder and chief executive officer of Abaxx. "The ability to reduce settlement risk in atomic delivery-versus-payment (DvP) transactions and unlock capital trapped in legacy T+1 cycles is transformative, but those benefits are an illusion without a trusted identity layer and enforceable title. The Abaxx private digital title framework is architected to solve this by embedding identity and legal clarity directly into the asset -- creating a truly native digital instrument with the integrity required to serve as high-quality collateral in institutional markets. This pilot is the next step in our mission to build smarter markets." A new framework for digital collateral Abaxx's vision is to re-engineer the relationship between financial assets and risk management in global markets. To support this transformation, the company has developed multilayered market infrastructure designed to connect tokenized and traditional assets to collateral workflows -- anchored by Abaxx's regulated market infrastructure and proprietary ID++ technology and suite of console applications, including Verifier+, Abaxx Messenger, Abaxx Sign and Abaxx Drive. This integrated infrastructure addresses two persistent barriers to real-time finance: limited collateral mobility and the high cost of managing counterparty and legal risk across borders -- the default condition when transacting in global commodity markets. Abaxx's private digital title system embeds legal ownership and verifiable identity directly into the asset through digitally issued documents of title, offering an enforceable alternative to tokenization models that rely on centralized issuance, new legal constructs or shared ledgers treated only as mirrors of off-chain records. These architectural decisions are designed to reduce legal and operational friction, shorten onboarding timelines, and support more flexible use of real-world assets as collateral, without compromising regulatory compliance or transaction confidentiality. This approach directly addresses the challenges highlighted by the Futures Industry Association (FIA) which notes the cleared derivatives industry is at an inflection point in adopting tokenization to accelerate collateral mobility. As the FIA's recent whitepaper underscores, achieving real impact requires solutions that solve for legal finality and regulatory interoperability, goals that the Abaxx U.S.-dollar trust network is designed to meet through a privacy-preserving, real-time cryptographic legal agreement registry. "BlackRock CEO Larry Fink recently called the tokenization of stocks and bonds the future of markets -- and he's right. But that future depends on solving two core challenges: identity authenticity and legal certainty," said Ian Forester, head of product at Abaxx. "Trends in digital assets tend to focus on building the next ledger, but the core challenge of tokenization isn't ledger integrity, it's liquidity. By perfecting legal claims within the asset itself, our private title framework allows for the creation of a composable 'real-time USD' asset secured by tamper-proof, identity-based signatures that are agnostic to the underlying ledger. This approach not only preserves the rights of parties to transact in private, it builds liquidity through trust that is backed by the rule of law." About the pilot and feasibility study The planned Q4 2025 pilot for the Abaxx U.S.-dollar trust network will test the full life cycle of a tokenized MMF share, with the objective of demonstrating atomic settlement and establishing unequivocal legal finality. The pilot will exclusively use MMFs that are compliant with Securities and Exchange Commission Rule 2a-7, target a stable $1.00 value per unit and invest in high-quality assets like U.S. Treasury bills and repurchase agreements. Findings of the pilot will inform a full feasibility study and may deliver a comprehensive legal and operational package for regulators and asset management partners, subject to regulatory approvals and compliance requirements. About Abaxx Technologies Inc. Abaxx Technologies is building smarter markets: markets empowered by better tools, better benchmarks and better technology to drive market-based solutions to the biggest challenges the company faces as a society, including the energy transition. In addition to developing and deploying financial technologies that make communication, trade, and transactions easier and more secure, Abaxx is the majority shareholder of Abaxx Singapore Pte. Ltd., the owner of Abaxx Exchange and Abaxx Clearing, and the parent company of wholly owned subsidiary Abaxx Spot Pte. Ltd., the operator of Abaxx Spot. Abaxx Exchange delivers the market infrastructure critical to the shift toward an electrified, low-carbon economy through centrally cleared, physically deliverable futures contracts in LNG (liquefied natural gas), carbon, battery materials and precious metals, meeting the commercial needs of today's commodity markets and establishing the next generation of global benchmarks. Abaxx Spot modernizes physical gold trading through a physically backed gold pool in Singapore. As the first instance of a co-located spot and futures market for gold, Abaxx Spot enables secure electronic transactions, efficient OTC transfers and is designed to support physical delivery for Abaxx Exchange's physically deliverable gold futures contract, providing integrated infrastructure to deliver smarter gold markets. We seek Safe Harbor.