Etherfuse CETES (CETES) quarantined stablecoin record
Live tracking temporarily paused
September 29 issuer CETES totals and positive CoinGecko data leave MXN/USD denomination and circulating/native/represented supply scope unreconciled. Keep quarantined until fresh identity-bound pricing and a double-count-safe multichain circulating census agree.
Effective 2026-10-08; review due 2026-11-07; Etherfuse attestation history: September 29 exact CETES mint totals, reviewed October 8
Answer first
What is Etherfuse CETES (CETES)?
CETES is Etherfuse's tokenized fund tracking short-term Mexican federal Treasury bonds, NAV-accruing in MXN and redeemable through KYC'd subscription. The static profile records its Mexican Peso-denominated NAV accounting mechanism as: NAV-accreting token; price starts near MXN 1.00 and appreciates continuously as zero-coupon CETES bonds discount to face value; bonds rolled at each maturity date; subscription and redemption through Etherfuse at current NAV; KYC required.
Is CETES safe?
Etherfuse CETES is not in Pharos's active universe. September 29 issuer CETES totals and positive CoinGecko data leave MXN/USD denomination and circulating/native/represented supply scope unreconciled. Keep quarantined until fresh identity-bound pricing and a double-count-safe multichain circulating census agree.
Profile
CETES profile facts
Etherfuse CETES (CETES) static profile: governance model Centralized (CeFi); backing model Real-World Asset Backed; peg Mexican Peso-denominated NAV.
AI summary / Updated Oct 19, 2026
CETES is Etherfuse's tokenized claim on Mexico's short-term Treasury bills: zero-coupon federal debt with maturities set at government auctions, held in segregated INDEVAL custody through participating brokerages. The token accretes in MXN rather than holding a fixed price, and subscription and redemption run through Etherfuse at current NAV behind KYC.
AI summary · drafted by claude-opus-5-5 · facts as of Oct 19, 2026
- Collateral
- Short-term Mexican federal government bonds (CETES: Certificados de la Tesorería de la Federación), BBB- rated sovereign debt with maturities set by government auctions; held in segregated custody through INDEVAL (Instituto para el Depósito de Valores) via participating brokerages
- Peg mechanism
- NAV-accreting token; price starts near MXN 1.00 and appreciates continuously as zero-coupon CETES bonds discount to face value; bonds rolled at each maturity date; subscription and redemption through Etherfuse at current NAV; KYC required
- Jurisdiction
- Mexico
- Proof of reserves
- Examination by BHR México Reserve source
Next actions
This record preserves static and historical context; live actions are available only for active assets.
Source: Pharos registry profile fields. This inactive record does not participate in current live monitoring; the summary above was last updated Oct 19, 2026.
CETES quick answers
What is Etherfuse CETES (CETES)?
CETES is Etherfuse's tokenized fund tracking short-term Mexican federal Treasury bonds, NAV-accruing in MXN and redeemable through KYC'd subscription. The static profile records its Mexican Peso-denominated NAV accounting mechanism as: NAV-accreting token; price starts near MXN 1.00 and appreciates continuously as zero-coupon CETES bonds discount to face value; bonds rolled at each maturity date; subscription and redemption through Etherfuse at current NAV; KYC required.
Is CETES safe?
Etherfuse CETES is not in Pharos's active universe. September 29 issuer CETES totals and positive CoinGecko data leave MXN/USD denomination and circulating/native/represented supply scope unreconciled. Keep quarantined until fresh identity-bound pricing and a double-count-safe multichain circulating census agree.
What backs CETES?
Pharos records CETES's reserves as of Oct 26, 2026 as 100% CETES Mexican federal government securities. Reserve evidence: Examination by BHR México, latest period ending Oct 26, 2026. Pharos classifies the backing as Real-World Asset Backed.
Can CETES be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. CETES is outside active monitoring; this static record preserves the reviewed control context.