Available
Retail
Price$65.904,00
Yield (APY)—
TVL$1,3M
Liquidity 24h💧 $5
mBTC
Treasuries & bonds
Tokenized money-market and government-bond funds — for example US Treasuries. Considered the most conservative RWA category: the yield roughly follows central-bank rates. Many products target institutional buyers, so check the access requirements per platform.
Assets12
Platforms9
Reported yield range3,4–3,7 %
23 assets · access calculated for Germany
Available
Retail
Price$1,20
Yield (APY)—
TVL$5,1M
Liquidity 24h💧 $1K
mBASIS
Available
Retail
Price$1,14
Yield (APY)—
TVL$3,4M
Liquidity 24h💧 $2
mMEV
Available
Retail
Price$1,13
Yield (APY)—
TVL$2,6M
Liquidity 24h💧 $55
mEDGE
Available
Retail
Price$1,09
Yield (APY)—
TVL$160,7M
Liquidity 24h💧 $49
USTBL
🏛️
Available
Retail
Price$1,07
Yield (APY)—
TVL$56,3M
Liquidity 24h💧 $225
mTBILL
Available
Retail
Price$1,11
Yield (APY)—
TVL$70,9M
Liquidity 24h—
mF-ONE
Available
Retail
Price—
Yield (APY)—
TVL—
Liquidity 24h—
EUTBL
Limited
Retail
Price$1,05
Yield (APY)3,09 %
TVL$16,3M
Liquidity 24h—
cUSDO
Limited
Institutional
Price$1,00
Yield (APY)3,09 %
TVL$27,5M
Liquidity 24h—
USDO
Limited
Institutional
Price$1,15
Yield (APY)3,36 %
TVL—
Liquidity 24h—
TBILL
Limited
Retail
Price$4.065,46
Yield (APY)—
TVL$66,4M
Liquidity 24h💧 $473K
XAUm
Limited
Retail
Price$1,00
Yield (APY)—
TVL—
Liquidity 24h—
STBT
Limited
Institutional
Price$116,04
Yield (APY)3,65 %
TVL$380,1M
Liquidity 24h—
OUSG
Limited
Professional
Price$1,14
Yield (APY)3,55 %
TVL$2,15B
Liquidity 24h—
USDY
Limited
Institutional
Price$1,13
Yield (APY)—
TVL$3,01B
Liquidity 24h💧 $227K
USYC
Professional
Price$11,16
Yield (APY)—
TVL$892,9M
Liquidity 24h—
USTB
Limited
Professional
Price$11,66
Yield (APY)—
TVL—
Liquidity 24h—
USCC
Professional
PricePool deposit
Yield (APY)—
TVL—
ACRED
Institutional
Price—
Yield (APY)—
TVL—
BUIDL
Professional
PricePool deposit
Yield (APY)—
TVL—
SCOPE
Limited
Institutional
Price—
Yield (APY)—
TVL—
VBILL
Not available
Retail
Price$1,00
Yield (APY)—
TVL—
Liquidity 24h—
BENJI
Platforms in this category
Circle USYC (ex-Hashnote)
1 assets
Tokenized money market fund (short-duration US treasuries + reverse repo) from Circle; permissioned, for non-US qualified purchasers and institutions only — no retail.
Franklin Templeton (BENJI) 1 assetsTokenized, SEC-regulated US government money market fund (FOBXX); shares held on-chain as BENJI tokens, open to US retail from $20 via the Benji app.
Matrixdock 1 assetsMatrixdock (by Matrixport, Singapore) tokenizes short-duration US treasuries (STBT, institutional/gated) and LBMA gold (XAUm, retail via CEX/DEX).
Midas 1 assetsBerlin-based RWA issuer offering institutional strategies (US treasuries, private credit, market-neutral crypto) as compliant on-chain tokens with no minimum investment for EU retail.
Ondo Finance 2 assetsTokenized US treasuries (USDY for non-US, OUSG for qualified investors), the USDtb stablecoin and tokenized equities (Global Markets).
OpenEden 1 assetsTokenized US T-bills (TBILL, institutional) and a regulated yield-bearing stablecoin (USDO/cUSDO).
Securitize 2 assetsRegulated RWA tokenization stack (broker-dealer + transfer agent + ATS); the platform behind BlackRock BUIDL, among others.
Spiko 2 assetsFrench, AMF-regulated fintech with tokenized UCITS money market funds on EU and US government bonds — retail/SME access from EUR 1 via SEPA.
Superstate 1 assetsTokenized funds for qualified investors only: USTB (short-duration US treasuries) and USCC (crypto carry strategy). No retail access.
Frequently asked questions
Are tokenized treasuries as safe as buying treasuries at a bank?
The underlying bonds are the same, but you add layers: the issuer, the fund structure and the blockchain. A safe underlying does not mean the product has no risk.
Why do many products require institutional or qualified investors?
Many issuers register their funds only for certain investor groups per country. Retail-accessible alternatives exist — use the 'Retail-buyable only' filter.
How does the yield follow interest rates?
The funds hold short-term government paper; when central-bank rates change, the token yield follows within weeks.