MidasRWA launches mTBILL on Algorand offering 4.06% yield
Midas has launched a tokenized US Treasury bill, mTBILL, on the Algorand blockchain, allowing European investors to access yield-bearing government bonds without an investment minimum. The mTBILL is a tokenized certificate linked to short-term US Treasury ETFs, with the first atomic swap involving $2 million in USDC executed on May 27. It offers a net yield of 4.06% as of May 29, making it more accessible than existing funds like BlackRock’s BUIDL, which requires a $5 million minimum investment. Algorand, with a market cap of $1.84 billion, is recognized for its scalable applications and rapid transactions. The launch is part of a broader trend in tokenized money market funds, with increasing institutional adoption. Fidelity and Franklin Templeton are also entering the tokenization space with their own blockchain-based funds. Tokenized Treasury funds represent about 31% of the real-world asset market, excluding stablecoins.
