Attestation of reserves · Current
ATT-2026-10-23
Issued 24 October 2026 · Position 23 October 2026, 23:59:59 UTC
1. Purpose
This attestation states the position of Meridian Reserve Ltd. on circulating MUSD and the reserves held against that supply. It is published so holders and venues can read the basis on which the token is claimed to be redeemable at par.
2. Responsibility
Management is responsible for the supply figure, the safeguarding of reserves, and this statement. Hermes Attest publishes it. This is not an independent audit, review, or agreed-upon-procedures report.
3. Token
| Name | Meridian USD |
|---|---|
| Symbol | MUSD |
| Standard | Solana Token-2022 |
| Mint | MrdnU5dQ2kR8vL4pN7wH1cY6sT3aB9eF5jX0uC2 |
| Decimals | 6 |
| Mint authority | Revoked |
| Freeze authority | Revoked |
4. Supply
| In circulation | 184,220,000.00 MUSD |
|---|---|
| Par value | $184,220,000.00 |
| Treasury and redeem wallets | Excluded. See Schedule B. |
5. Reserve statement
Management attests that, at the reporting date:
- Reserves were at least equal to the par value of tokens in circulation.
- Reserves were US dollars or US Treasury bills payable within 90 days.
- Assets were held at Harbor Trust for the reserve, segregated from operating funds.
- They were not lent, pledged, or otherwise encumbered.
- No other claim had a senior right over those reserves.
Schedule A — Reserves
| Account | Asset | Maturity | Amount |
|---|---|---|---|
| 8841-22019Harbor Trust | USD cash | On demand | $62,410,000.00 |
| UST-4418Harbor Trust | US Treasury bills | 15 Jan 2027 | $123,995,220.00 |
| Total reserves | $186,405,220.00 | ||
| Surplus over circulating supply | $2,185,220.00 | ||
Schedule B — Excluded wallets
| Treasury, excluded from circulationHr7mK2pQ9sLw4nV8cYd3eF6aB1tR5uXoZqN0jC | 4,180,000 MUSD |
| Redeem queue, pending burnRn8cL1wE4oP7aV2sD9kH6mQ3yT5bN0uXjF8cR1 | 620,000 MUSD |
6. Outside this statement
Any moment after the reporting date, secondary-market price, custodian solvency, and any token of the same name at another mint are outside this attestation.
I am authorized to sign for Meridian Reserve Ltd.. I have reviewed the mint readout and the custodian statement. To the best of my knowledge, this attestation and Schedules A and B were true and complete at the reporting date.
Clara Mendel
Chief Financial Officer
Meridian Reserve Ltd., Singapore
2024-11874