Midas launches US Treasury bonds encrypted on the Algorand blockchain

robot
Abstract generation in progress

Germany's Midas encryption protocol has just launched the ( US Treasury bill ) in encrypted form on the Algorand blockchain, allowing European investors to access profitable government bonds without requiring a minimum investment.

The mTBILL product is a cryptocurrency certificate that references short-term US Treasury bond ETF funds. The first atomic swap was executed on May 27, with 2 million USD USDC exchanged for mTBILL.

Midas stated that mTBILL has a lower barrier to entry compared to cryptocurrency money market funds like BlackRock’s BUIDL ( which requires a minimum of 5 million USD). In contrast, mTBILL does not require a minimum investment and offers a net yield of 4.06% ( as of 29/5).

Algorand, with a capitalization of $1.84 billion, will integrate mTBILL into the DeFi ecosystem in the next few weeks, according to the Algorand Foundation.

Midas launches U.S. Treasury bonds encrypted on the Algorand blockchain

View Original
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)