Blockscout data showed approximately 600,020 ipUSD in the product’s pre-deposit contract on October 28. That balance does not establish how much money has already entered the royalties fund.
The opening follows Soneium’s October 26 tokenized-IP roadmap. Before investment settlement, users can cancel unlocked subscriptions without a protocol fee after a ten-minute delay.
ipUSD and vault shares serve different purposes
Holding ipUSD alone provides no royalty exposure. The dollar stablecoin is used for deposits and withdrawals; vault shares represent the investment.
Through the interface, users can exchange USDSC, also called Startale USD, and USDC.e for ipUSD at a one-for-one rate. The launch also brings swaps between USDSC and ipUSD to the Startale App.
According to the product documentation, shares give holders proportional exposure to the vault’s tokenized fund position, its ipUSD liquidity buffer and assets undergoing settlement. They do not give investors direct title to specific intellectual property.
Returns accumulate through changes in share value rather than through additional shares. Soneium says valuations update monthly using the fund’s report and can move down as well as up.
Partners Group manages the underlying royalties fund
According to the product site, the underlying portfolio is Partners Group’s Evergreen Royalties Opportunities fund, which has been tokenized by Asseto. As of August 2026, fund net assets stood at $641 million, a fund-wide figure that is distinct from the vault’s $600,000 launch capacity.
Across 53 investments and over 100,000 royalty streams, the portfolio’s exposure includes The Weeknd’s catalogue as well as Warner Bros. Discovery’s film and TV music. Other assets cover pharmaceuticals, brands and the energy transition.
Partners Group describes its transaction with The Weeknd as a royalty-backed note provided on behalf of clients. That is debt secured against royalties, not an outright purchase of the catalogue.
Asseto supplies the digital-asset infrastructure. According to the product documentation, Partners Group oversees the underlying fund but has no affiliation with ipUSD or IP Vault and does not endorse either. Soneium limits access to eligible users in supported jurisdictions.
Withdrawals depend on liquidity and settlement timing
Instant withdrawals return ipUSD in the same transaction only when sufficient capacity exists, with a 5% protocol fee. Standard withdrawals enter a queue and carry no protocol withdrawal fee.
In low-liquidity conditions, standard exits can take three to six months if the vault must redeem its underlying position through the fund’s quarterly redemption schedule.
The payout uses the share value at settlement, not the value when the investor submits the request. Shareholders therefore remain exposed to valuation changes during the wait.
Soneium Portal will not operate a market for vault shares at launch, although holders can transfer them between wallets. Soneium has scheduled the first subscription settlement for November 2, 2026.
Article produced with the assistance of artificial intelligence and reviewed by the editorial team.
