Midas mTBILL

mTBILL is a tokenized investment offering on-chain exposure to US Treasury Bills, providing low-risk yield for investors. mTBILL is a permissionless ERC-20 token, allowing for instant issuance, transferability, and composability in decentralized finance (DeFi).

The mTBILL token is issued by Midas Software GmbH, a German-domiciled SPV, under European Union law. The product is structured as a tokenized debt instrument classified as a MiFID II security.

mTBILL tokens are issued as Blockchain-based Certificates (debt instruments) that aim to track an underlying asset defined as US T-Bills with a maturity of less than 3 months. They are issued according to the Base Prospectus and Final Terms, documentation approved by the Liechtenstein Financial Markets Authority, but are not subject to authorization or supervision.

The target return of the certificate is the accumulated return of 8-week US T-Bills, as reported by the US Department of the Treasury, minus a tracking error of 50 basis points.

Primary Issuance
Eligible individual and professional investors can purchase mTBILL on the Midas website by creating a purchase request. They need an EVM-compatible blockchain wallet and can settle the purchase either in USDC and USDT stablecoins or by transferring USD or EUR to the bank account specified by Midas.

Redemptions can

Secondary Market
Midas mTBILL tokens are permissionless on the secondary market, allowing investors to acquire them outside of midas.app without undergoing the verification processes required in the primary market.

• US T-Bills maturing in three months or less from settlement
• US T-Bill equivalents including
• Funds or ETFs comprising US T-Bills
• US Treasury notes
• Other obligations issued or guaranteed by the US Treasury
• Repurchase agreements secured by US Treasury obligations or USD