Midas Launches Tokenized U.S. Treasury Bill on Algorand Blockchain
Tokenization protocol Midas has introduced a new way for European investors to access U.S. Treasury bills. The mTBILL, now live on the Algorand blockchain, offers retail investors a chance to earn yields from government bonds without needing a large initial investment.
Unlike customary tokenized money market products, mTBILL has no minimum investment requirement. As of May 29, it offers a net yield of 4.06%. This makes it an attractive option for those looking for stable,interest-bearing digital assets.
The Algorand blockchain, known for its energy efficiency and low fees, supports mTBILL. It allows for instant transactions and 24/7 trading. The first atomic swap involving mTBILL was completed on May 27, exchanging $2 million worth of USDC for the tokenized asset.
The Algorand Foundation supports this initiative. They believe it will integrate well into their decentralized finance ecosystem. They highlight the benefits of trading at low costs and without counterparty risk.
This launch comes as the tokenized money market sector grows. A Brickken report shows the market for tokenized assets has surpassed $50 billion.Germany leads in tokenized bond issuance,thanks to clear regulatory frameworks.
Major players like Coinbase Asset Management and Ripple are expected to enter the space in 2025. McKinsey predicts the tokenized market will reach a $2 trillion market cap by 2030.
