New Stablecoin Midas Brings TradFi Yields to DeFi via Treasury Backing
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Midas is a new stablecoin backed by U.S. Treasuries that plans to launch on DeFi platforms like MakerDAO, Uniswap, and Aave.
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Midas will buy Treasuries via BlackRock and use USDC as an on-ramp. Other partners include Fireblocks and Coinfirm.
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Midas offers yields from TradFi assets like Treasuries in DeFi, as TradFi yields currently exceed DeFi yields.
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Midas joins other yield-bearing stablecoins like Mountain Protocol and Ondo Finance in bringing TradFi to DeFi.
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The Midas token is fully backed by Treasuries, issued under German law, and compliant with European regulations.