Midas launches tokenized T-Bill on Algorand

The first atomic swap, conducted on May 27, saw $2 million in USDC exchanged for the new mTBILL.

German tokenization protocol Midas has launched a tokenized US Treasury bill on the Algorand blockchain, offering European investors exposure to yield-bearing government bonds with no investment minimum required. 

The mTBILL is a tokenized certificate that references short-term US Treasury exchange-traded funds (ETFs), Midas announced on May 29. 

The first atomic swap was executed by a third party on the Algorand blockchain on May 27. As part of the transaction, $2 million in USDC (USDC) was exchanged for mTBILLS.

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