Regulated German tokenization platform Midas has launched mTBILL, a tokenized certificate referencing short-term U.S. Treasury ETFs, on the Algorand blockchain.
Author: Sahil Thakur
Regulated German tokenization platform Midas has launched mTBILL, a tokenized certificate referencing short-term U.S. Treasury ETFs, on the Algorand blockchain. This marks the first non-EVM deployment for mTBILL and expands access to U.S. Treasury exposure for retail investors across Europe.
mTBILL is a digital asset that tracks a basket of short-term U.S. Treasury ETFs, including BlackRock’s IB01 and BUIDL. Unlike BlackRock’s BUIDL fund, which requires a $5 million minimum investment, mTBILL has no minimum threshold, aiming to democratize access to high-quality, yield-bearing government securities.
The token offers a net yield of 4.06%, based on the 7-day trailing performance of the underlying ETFs as of May 29. Midas emphasizes that past performance is not a guarantee of future returns.
According to the team, Midas chose Algorand for its speed, cost-efficiency, and scalability. The first atomic swap involving mTBILL occurred on May 27, with $2 million USDC exchanged for mTBILL in under 2 seconds. The total cost of the transaction was 0.002 ALGO, or roughly $0.0004.
The swap was conducted via a third-party tool. Midas itself does not handle trade execution.
The Algorand Foundation confirmed that mTBILL will soon be integrated into its DeFi ecosystem.
The launch of mTBILL comes amid rising interest in tokenized money market funds. BlackRock, Fidelity, and Franklin Templeton have all entered the space with blockchain-based Treasury products.
According to industry data, tokenized Treasury products now account for about 31% of all tokenized real-world assets, excluding stablecoins. The growth highlights increasing demand for blockchain-based access to traditional financial instruments.
The $ALGO community has reacted overwhelmingly positive to the news and we saw some very genuine comments on the announcement – people genuinely asking questions and contemplating the future of the announcement.
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