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Cryptocurrency News Articles
Midas Receives Liechtenstein Approval to Offer Tokenized Assets to Retail Investors
Oct 09, 2024 at 01:28 am
The approval allows Midas to its tokenised U.S. Treasury bills and yield-bearing trade products to retail investors in Liechtenstein.
Liechtenstein financial regulator has granted Midas approval to offer its tokenised assets to retail investors.
This approval will allow Midas to offer its tokenised U.S. Treasury bills and yield-bearing trade products to retail investors in Liechtenstein.
Crucially, Midas has also managed to secure an exemption from the 400 Swiss franc ($425) minimum threshold and investor accreditation process for its mTbill and mBasis tokens.
This will allow regular investors to buy and sell the tokens irrespective of their capital.
The tokens will not be offered to U.S. residents and sanctioned territories, but with Liechtenstein being an EU member, it presents an opportunity for Midas to passport the offerings to the rest of the European Union members.
“We will be the only RWA issuer with a regulatory compliant offering that has no minimum thresholds and investor accreditation process and full DeFi composability of a permissionless token,” Dinkelmeyer told CoinDesk.
The announcement comes just as tokenised real-world assets continue to dominate headlines as more companies continue to launch tokenised assets.
Tokenised real-world assets tracking and analytics platform RWA.xyz, estimates that the total RWA on-chain stood at $12.77 billion as of this writing, with U.S. treasuries accounting for $2.3 billion.
Last week, Kin Capital launched a $100M tokenised debt fund on Chintai Network while global asset manager, Franklin Templeton expanded its tokenised money market fund to the Aptos blockchain.
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