German Tokenization Platform Midas Launches mTBILL on Algorand

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.

What Is mTBILL?

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.

Why Algorand?

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.

Features of mTBILL

• Permissionless: mTBILL can be accessed and used freely across decentralized finance platforms.
• Composable: It is designed to integrate with a wide range of DeFi protocols.
• Retail-friendly: No minimum investment requirement.
• Available 24/7: Instant finality and no counterparty risk.

The Algorand Foundation confirmed that mTBILL will soon be integrated into its DeFi ecosystem.

A Growing Trend in Tokenized Assets

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.

Community Reaction

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.