Midas, a fully regulated German tokenization platform, announced the launch of the mTBILL token on Algorand today, the first non-EVM launch for the token.
mTBILL is a tokenized certificate referencing short-term U.S. Treasury ETFs, available to retail investors across Europe. The redemption value is based on the liquidation proceeds of a reference basket composed of ETFs such as BlackRock's IB01 and BUIDL.
However, unlike the BUIDL fund, which requires a minimum investment of $5M, mTBILL is structured to allow broader access to short-duration U.S. Treasury exposure, with no minimum investment required.
With mTBILL, retail investors have the same access to high-quality assets that institutions enjoy. mTBILL investors will benefit from Algorand’s world-class infrastructure. They can trade at negligible cost, with instant finality, 24/7, without counterparty risk.
The first atomic swap transaction with mTBILL was executed on May 27th, swapping $2m USDC for mTBILLs at a cost of 0.002 Algo ($0.0004) in 2 seconds; view it on-chain here. The swap was conducted via a third-party tool. Midas does not handle execution.
mTBILL is a permissionless token that offers full DeFi composability. These assets will make their way to the Algorand DeFi ecosystem in the next few weeks, stay tuned.
mTBILL currently offers a yield of 4.06%, based on the trailing 7-day yield of the underlying ETFs, net of fees, as of May 29, 2025. Past performance is not indicative of future results.
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