In a world where the mundane meets the miraculous, the German tokenization protocol Midas has unveiled a tokenized US Treasury bill on the Algorand blockchain. Yes, you heard it right! European investors can now dip their toes into the pool of yield-bearing government bonds without the pesky investment minimums. Who knew finance could be so generous? 😏
Behold the mTBILL! A tokenized certificate that dances with short-term US Treasury exchange-traded funds (ETFs), as announced by Midas on this fine day, May 29. It’s like a ticket to the financial amusement park, minus the long lines! 🎢
On May 27, the first atomic swap was executed by a third party on the Algorand blockchain. In this thrilling transaction, a whopping $2 million in USDC was exchanged for mTBILLS. Talk about a financial rollercoaster! 🎢💸
Midas proudly proclaims that the mTBILL offers a lower barrier to entry for retail investors compared to the existing tokenized money market funds. Take that, BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), which demands a staggering minimum investment of $5 million! Who has that kind of cash lying around? Not me! 😂
With no investment minimums, the mTBILL is like the friendly neighbor who invites you over for coffee without expecting anything in return. Plus, it boasts a net yield of 4.06% as of May 29. Not too shabby, right? ☕💰
Algorand, the decentralized network that could, is known for its scalable applications and rapid transactions. With a market capitalization of $1.84 billion, it’s the financial equivalent of a rock star! 🎸
The Algorand Foundation chimed in on the mTBILL launch, stating, “These assets will make their way to our DeFi ecosystem in the coming weeks.” Sounds like a party is brewing! 🎉
Tokenized Money Market Funds: The New Cool Kids on the Block
Tokenized money market funds are all the rage these days, thanks to the increasing institutional adoption of digital assets. As reported by CryptoMoon, BlackRock’s BUIDL has seen its total value locked surge, tripling over a mere three weeks. Talk about a growth spurt! 📈
In March, asset manager Fidelity decided to join the fun by filing for a blockchain version of its US dollar money market fund, aiming for a May 30 launch. According to regulatory filings submitted to the US Securities and Exchange Commission, Fidelity’s OnChain share class promises verifiable tracking of its Treasury Digital Fund. Sounds fancy, doesn’t it? 🧐
Even Franklin Templeton jumped on the tokenization bandwagon, launching its OnChain US Government Money Fund on Solana and Base, Coinbase’s layer-2 network. It’s a tokenized treasure hunt out there! 🗺️
Tokenized Treasury funds have become one of the hottest corners of the real-world asset (RWA) market. Excluding stablecoins, they account for roughly 31% of tokenized RWAs, according to industry data. Who knew finance could be so spicy? 🌶️
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2025-05-30 02:00