Profile
mTBILL profile facts
Midas mTBILL (mTBILL) static profile: governance model Centralized (CeFi); backing model Real-World Asset Backed; peg US Dollar-denominated NAV.
- Collateral
- Treasury-bill fund portfolio with issuer-reported USTB and BUIDL positions and an explicitly unclassified residual. The transparency source reports rounded position values and a source timestamp; these are portfolio estimates, not independently examined holdings.
- Peg mechanism
- NAV-linked Treasury-bill certificate rather than a $1 payment token. The July 17, 2026 final terms specify USDC subscription and settlement, issuer-calculated NAV, a one-business-day realisation period, redemption gates of 25% of outstanding mTokens per settlement day, and a holdback of up to 5%; instant redemption uses a deferred-price method.
- Jurisdiction
- Germany / Liechtenstein FMA (prospectus-approving authority only; issuer not FMA-licensed) / EU-Prospectus-Regulation-approved tokenized debt instrument (MiFID II financial instrument); EEA-passported; not available to U.S. or UK retail persons
- Proof of reserves
- Real-Time PoR by Midas transparency dashboard (issuer-reported portfolio estimates) Reserve source
- ISIN
- CH1371002986
Source: Pharos registry profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier on this page.
mTBILL quick answers
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What is Midas mTBILL (mTBILL)?
mTBILL is Midas's NAV-linked Treasury-bill certificate, with issuer-reported USTB and BUIDL positions and USDC settlement. The static profile records its US Dollar-denominated NAV accounting mechanism as: NAV-linked Treasury-bill certificate rather than a $1 payment token.
Is mTBILL safe?
As of Oct 24, 2026, Pharos grades mTBILL C (57/100) on its Safety Score. Pharos's reviews record that the issuer or an admin can freeze individual holders' balances, and direct redemption is limited to customers the issuer has verified. That is a middle-band grade: it meets baseline expectations but carries meaningful weaknesses. The grade moves as reserve, redemption, peg and control evidence changes; the live Safety Score on this page shows the current reading.
What backs mTBILL?
Pharos records mTBILL's reserves as of Oct 1, 2026 as 93.7% Superstate Short Duration US Government Securities Fund (USTB), 6.3% BlackRock USD Institutional Digital Liquidity Fund (BUIDL), and under 0.1% Unclassified portfolio residual and position rounding. Reserve evidence: Real-Time PoR by Midas transparency dashboard (issuer-reported portfolio estimates). Pharos classifies the backing as Real-World Asset Backed.
Can mTBILL be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded.
How do you redeem mTBILL?
Under the route Pharos reviewed on Oct 7, 2026, customers the issuer has verified can redeem mTBILL for USDC. Settlement takes multiple days. The reviewed redemption fee is 0.07%. Whether a given holder qualifies is set by the route's own terms, not by this summary.
