Midas brings yield-bearing US Treasury exposure to Algorand’s DeFi ecosystem
Tokenization protocol Midas has launched a tokenized U.S. Treasury bill on the Algorand blockchain, offering European investors retail access to yield-bearing government bonds with no minimum investment.
According to a May 29 announcement from the German-origin firm, mTBILLs, which represents a tokenized certificate referencing short-term U.S. Treasury exchange-traded funds, was now live on the Algorand blockchain.
Midas says the offering provides an alternative to institutional-grade tokenized money market products, such as BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), which requires a minimum investment of $5 million.
In contrast, mTBILL has no investment minimums and currently offers a net yield of 4.06% as of May 29. The product is designed to lower the barrier to entry for retail investors seeking stable, interest-bearing digital assets while leveraging the benefits of blockchain infrastructure.
The first atomic swap involving mTBILL was executed by a third party on May 27, with $2 million worth of USDC exchanged for the tokenized asset on the Algorand blockchain.
The Algorand Foundation welcomed the initiative, stating that these assets would be integrated into its decentralized finance ecosystem in the coming weeks.
“mTBILL investors will benefit from Algorand’s world-class infrastructure. They can trade at negligible cost, with instant finality, 24/7, without counterparty risk,” it added.
The launch of mTBILL comes amid accelerating growth in the broader tokenized money market sector. A recent report by Brickken noted that the overall market for tokenized assets has now surpassed $50 billion, driven by growing institutional participation and increasing adoption among retail investors.
Germany currently leads the region, accounting for nearly 60% of tokenized bond issuance, supported by clearer regulatory frameworks.
Firms like Coinbase Asset Management, Glasstower, and Ripple are also expected to enter the space in 2025, joining legacy players such as BlackRock, Franklin Templeton, and UBS in building out tokenized liquidity products.
McKinsey projects the tokenized market to reach a $2 trillion market cap by 2030.
Major players continue to expand their footprint in the sector. As previously reported by crypto.news, Fidelity Investments is preparing to launch its own stablecoin as part of a broader strategy to digitize traditional money market offerings.
Another prominent example is UBS Asset Management, which has been actively testing tokenized money market funds through its Tokenize platform since 2023 and launched its first tokenized investment fund in November last year.
