Neutrl opens NUSD redemptions at 0.51

• Neutrl has opened NUSD and sNUSD redemptions for USDC after a liquidity problem halted normal operations.
• Strata reported a 0.51 redemption rate from the new on-chain contract, while Neutrl disclosed $27 million in liquid assets.
• The redemption programme is expected to remain open until November 14, subject to its terms.

Neutrl has opened an early redemption programme for NUSD and sNUSD holders, allowing eligible users to exchange their tokens for USDC.

The programme opened on September 17 through a dedicated portal, with Strata reporting a 0.51 rate from the new redemption contract.

Neutrl said NUSD and sNUSD holders “may now submit redemption requests through the official Neutrl Redemption Portal subject to the applicable terms and conditions.”

Neutrl has not described the 0.51 rate as a 50% recovery, although it is close to half the original $1 reference value.

Neutrl disclosed about $27 million in liquid assets on August 28, while other strategy positions remained illiquid and their recovery value remained uncertain.

Approved redemptions will pay holders in USDC and burn the corresponding NUSD or sNUSD after wallet ownership is verified.

The programme is expected to remain open until November 14, while redemption rates and outcomes remain subject to the applicable terms.