Provider at a glance
- Category
- Tokenised Bonds
- Entity
- Not verified
- Official website
- etherfuse.com
Independent rankingchecked How it works
Details
Scored 69 out of 100 under methodology 2026.10.18, from the evidence read in September 2026.
Etherfuse (Stablebonds)
Stablebond tokens from a Mexican issuer
Tokenised Bonds
#2 Overall
Ranked #2 of 7 tokenised bonds in the published ranking
69
ChainChoice Score
The ChainChoice Score, shown against 100: published scores run from 41 to 99.- High evidence confidence
Is Etherfuse (Stablebonds) right for you?
Look elsewhere if these come first
- Paper you hold in default4/10 here; Ondo Global Markets (bond ETF line) scores 7
- Open to you5/10 here; OpenTrade (Fixed Income Yield Vaults) scores 7
- Exit tested5/10 here; OpenTrade (Fixed Income Yield Vaults) scores 7
- Cost vs buying direct6/10 here; 21X scores 8
Not yet tested for your country. Markets it lists: Latin America, Europe, Asia, Global. Restricted: United States, Venezuela.
to test where you can use it.
The rank above is the published one, the same for every reader. Find my best tokenised bond shows where it lands for you.
What will Etherfuse (Stablebonds) cost you?
Not priced on this basis
- Your balance
- $10k
How safe is Etherfuse (Stablebonds)?
- Evidence: verified4 of 4 criteria rest on quoted, sourced receipts. Read September 2026.
- LicenceMiCA (EU): no register record on file here.
Alternatives to Etherfuse (Stablebonds)
Compare all 4- 3Ondo Global Markets (bond ETF line)1 point below · stronger on paper you hold in default (7 against 4)68
- 4OpenTrade (Fixed Income Yield Vaults)1 point below · stronger on open to you (7 against 5)68
- 521X9 points below · stronger on paper you hold in default (7 against 4)60
For your setup
Find out if Etherfuse (Stablebonds) fits you
The rank above is the published one — the same for every visitor. Answer the category's questions and this section shows where Etherfuse (Stablebonds) lands for you, which criteria your answers weight up, and which stated needs the record does or does not meet. The published rank stays beside it.
- A few questions
- No account required
- Ranking-blind: no commercial input
- Personalised in under 60 seconds
Find my best tokenised bondNothing is inferred from clicks, popularity or commercial value.
Why this rank
Why Etherfuse (Stablebonds) ranks #2
Each strength is read from evidence on a 0–10 ladder and weighted as the published methodology states. The 32 objective points these produce (15.7 here) sit inside the score; availability, friction, trust record and measured data add the rest.
4 published criteria · Σ weight 100
CriterionWeightStrength · 0–10ScoreContrib.MedianBestRankEvidence
304+3.847.09#6/7Loading evidence…
255+4.005.07#4/7Loading evidence…
255+4.006.07#5/7Loading evidence…
206+3.846.09#3/7Loading evidence…
Hairline = best in this ranking · tick = its median · a missing bar is "not scored", never zero
Margin−10behind BondbloX Bond Exchange, #1
RobustnessOne point from changingacross a one-point change to each of its 4 criterion scores, the re-run scores 67–71 and ranks #2–#4
Evidence4 of 4 scored4 quoted, 4 with a source link
What would move the rank
Each line is the ranking run again with one of Etherfuse (Stablebonds)’s criterion scores changed and every other value held: the smallest whole-point change on that criterion that moves its rank, and where the re-run puts it. Up to 4 climbs and 3 falls are listed, smallest change first. Nothing here is a forecast.
If the issuer goes under, what paper do I actually hold - a bond, a certificate, or an IOU? 4 → 10 on its ladder · passes BondbloX Bond Exchange+680#2 → #1
If the issuer goes under, what paper do I actually hold - a bond, a certificate, or an IOU? 4 → 3 on its ladder · Ondo Global Markets (bond ETF line) passes it−167#2 → #4
Am I allowed to buy this at all - in my country, at my wealth level, today? 5 → 4 on its ladder · Ondo Global Markets (bond ETF line) passes it−168#2 → #4
What is the published exit route - and is there any dated evidence a holder used it? 5 → 4 on its ladder · Ondo Global Markets (bond ETF line) passes it−168#2 → #4
Smallest climb: “If the issuer goes under, what paper do I actually hold - a bond, a certificate, or an IOU?” 4 → 10 passes BondbloX Bond Exchange, #1.
Strengths
0 from the score dataWhere it leads
No scored criterion is at or within one point of the category best, so no strength can be stated from the data.
Tradeoffs
4 from the score dataWhere it trails
Not for readers who put first
- If the issuer goes under, what paper do I actually hold - a bond, a certificate, or an IOU? — 4/10 against a category best of 9/10
- Am I allowed to buy this at all - in my country, at my wealth level, today? — 5/10 against a category best of 7/10
- What is the published exit route - and is there any dated evidence a holder used it? — 5/10 against a category best of 7/10
- What does the token route cost me over just buying the bond or the ETF? — 6/10 against a category best of 9/10
Record watch-outs
- You will not own a bond, and there is no ISIN, prospectus or key information document anywhere on the site to tell you what you do own. What you get is an unsecured contractual credit right against Etherfuse Mx, S.A. de C.V. on the NAV of a pool it holds at three Mexican brokerages - and the issuer's own regulator has ruled in Resolution P090/2024 that the token is neither a security nor a credit title under Mexican law. The Swiss ledger-based-security dressing rests on one published letter dated 8 April 2025 that says the structure 'is feasible' and expressly disclaims any reliance by anyone other than Etherfuse.
Competitive position
Where Etherfuse (Stablebonds) leads and where it trails
Rank on every objective dimension among the rows scored on it. A criterion in the top third of its pool is listed as a lead, the bottom third as a trail; the middle is neither. Popularity, size and commercial terms are not dimensions.
Availability#1 / 714.0 of 20 · pool best
Published criteria#5 / 711.8 of 30 · best 18.6
Friction#1 / 72.7 of 10 · constant here
Trust record#1 / 73.2 of 8 · constant here
Measured data#1 / 78.3 of 18 · constant here
Where Etherfuse (Stablebonds) leads
- What does the token route cost me over just buying the bond or the ETF?#3 / 7
Where it trails
- If the issuer goes under, what paper do I actually hold - a bond, a certificate, or an IOU?#6 / 7
- What is the published exit route - and is there any dated evidence a holder used it?#5 / 7
Closest alternatives
The 3 nearest rows by score
Nearest by published score in either direction. Each card states the criteria on which the two rows differ and the cost difference under the same scenario inputs; the compare arithmetic below shows why the higher one ranks higher.
Ondo Global Markets (bond ETF line)#3 of 7 · score 68 · 1.0 point behind
Etherfuse (Stablebonds) leads on
- Am I allowed to buy this at all - in my country, at my wealth level, today?5 vs 4
- What does the token route cost me over just buying the bond or the ETF?6 vs 5
Ondo Global Markets (bond ETF line) leads on
- If the issuer goes under, what paper do I actually hold - a bond, a certificate, or an IOU?7 vs 4
- What is the published exit route - and is there any dated evidence a holder used it?6 vs 5
Largest single reason Etherfuse (Stablebonds) is ahead: availability (+5.2 display points).Scenario cost: Ondo Global Markets (bond ETF line) has no verified pricing for this scenario.
OpenTrade (Fixed Income Yield Vaults)#4 of 7 · score 68 · 1.0 point behind
Etherfuse (Stablebonds) leads on
- If the issuer goes under, what paper do I actually hold - a bond, a certificate, or an IOU?4 vs 2
- What does the token route cost me over just buying the bond or the ETF?6 vs 3
OpenTrade (Fixed Income Yield Vaults) leads on
- Am I allowed to buy this at all - in my country, at my wealth level, today?7 vs 5
- What is the published exit route - and is there any dated evidence a holder used it?7 vs 5
Largest single reason Etherfuse (Stablebonds) is ahead: published criteria (+1.3 display points).Scenario cost: OpenTrade (Fixed Income Yield Vaults) has no verified pricing for this scenario.
21X#5 of 7 · score 60 · 9.0 points behind
Etherfuse (Stablebonds) leads onNo scored criterion
21X leads on
- If the issuer goes under, what paper do I actually hold - a bond, a certificate, or an IOU?7 vs 4
- Am I allowed to buy this at all - in my country, at my wealth level, today?6 vs 5
- What is the published exit route - and is there any dated evidence a holder used it?6 vs 5
Largest single reason Etherfuse (Stablebonds) is ahead: availability (+20.8 display points).Scenario cost: 21X has no verified pricing for this scenario.
Against the leader
79 vs 69 · gap 10.0Why BondbloX Bond Exchange ranks above Etherfuse (Stablebonds)
The compare workspace's arithmetic applied to these two rows. Each dimension's share of the gap is its weight × the difference, on the displayed scale — it reproduces the displayed gap of 10.0 to within rounding. Etherfuse (Stablebonds) is ahead on availability (+7.8 in its favour).
DimensionThisBondbloX Bond ExchangeGap share
Availability · 23% weight14.011.0+7.8, better
Published criteria · 35% weight11.818.6−17.7, worse
Friction · 12% weight · constant here2.72.7same
Trust record · 9% weight · constant here3.23.2same
Measured data · 21% weight · constant here8.38.3same
Published criterionThisBondbloX Bond ExchangePoints
If the issuer goes under, what paper do I actually hold - a bond, a certificate, or an IOU? · w3049−4.80, worse
Am I allowed to buy this at all - in my country, at my wealth level, today? · w2556−0.80, worse
What is the published exit route - and is there any dated evidence a holder used it? · w2557−1.60, worse
What does the token route cost me over just buying the bond or the ETF? · w2069−1.92, worse
Net6979−10.0
Your scenario
Etherfuse (Stablebonds) is not priced for this scenario
The annual management fee on your balance. Excludes performance fees, spreads and any redemption charge. Change an input and every figure recomputes from the published rate; the published rank does not move.
your cost/yr · default scenario — set your own
Your balance · your input$10k
Rate read from the provider’s published pricing ↗ on 29 September 2026.
your cost/yrCost is stated as your cost/yr in USD; it is never a yield, never annualised, and it does not enter the score.
Not priced on this basis
Under the default inputs · USDCategory medianNot priced0 of 7 rows priced
Cheapest pricedNone pricedDifference not stated · availability not applied — set your country to filter
7 of 7 rows in this ranking have no verified rate for this scenario and are absent from the median, not counted as free.
Evidence
Evidence read 29 September 2026
One row per published criterion: the page each strength was read from, its source type by domain, the reading date and whether the file and the published table agree. Open a row for the quote and the receipt.
4 of 4 cells scored
Score evidenceVerified4 of 4 criteria reconstruct from receipts
4 of 4 criteria reconstruct from a quoted, sourced receipt equal to the published strength.Public receiptsReading…4 quoted with a source URL
The receipt file has not been read yet.Evidence confidenceHighcoverage and corroboration, never freshness
4/4 criteria scored, with 4 dated sources quoted.RobustnessOne point from changingrank #2 to #4 across one-point re-runs
Whether the position holds when one criterion score is changed by one point and the ranking is run again. It is always a re-run of the ranking, never an estimate.The newest evidence read on the platform is 3 November 2026; this category's reading is older. The scores stand as read on 29 September 2026.
Reading the evidence ledger…
CriterionSourceTypeReadFreshnessStatusReceipt
If the issuer goes under, what paper do I actually hold - a bond, a certificate, or an IOU?strength 4 · weight 30Report an error—29 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.Am I allowed to buy this at all - in my country, at my wealth level, today?strength 5 · weight 25Report an error—29 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.What is the published exit route - and is there any dated evidence a holder used it?strength 5 · weight 25Report an error—29 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.What does the token route cost me over just buying the bond or the ETF?strength 6 · weight 20Report an error—29 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.How you can lose money here, and what the ranking scores
- Insolvency failure (Etherfuse (Stablebonds) 4/10): the firm or issuer that owes you cannot pay.Scored by If the issuer goes under, what paper do I actually hold - a bond, a certificate, or an IOU? · 30%
- Regulatory failure (Etherfuse (Stablebonds) 5/10): no licence where you are, or a forced market exit.Scored by Am I allowed to buy this at all - in my country, at my wealth level, today? · 25%
- Exit failure (Etherfuse (Stablebonds) 5/10): you cannot get out at par, on time, or with what is yours.Scored by What is the published exit route - and is there any dated evidence a holder used it? · 25%
Not assessed by this ranking: Contract failure, Control failure, Custody failure, Information failure. A high place says nothing about these; the Methodology tab says what each means. Also scored, as cost, quality or a summary of several families: What does the token route cost me over just buying the bond or the ETF? (20%).
Facts
facts, not scoresWhat the record publishes
- Pricing
- Etherfuse Stablebonds Overview, https://
app .etherfuse .com /legal /stablebonds-overview, fetched 29 September 2026 (HTTP 200). The wrapper fee is a formula tied to the underlying yield: "The fee charged (f) ranges from 0.25% to 1.5%, based on the yield and risk level of the underlying asset as follows". The low band reads "A fixed commission of 0.25% is applied to products with a yield equal to or less than 4.5%". The intermediate band is "F% = 0.2273 × Y - 0.7727". The high band reads "Products with yields equal to or greater than 10% are subject to a fixed fee of 1.5%". The same page adds a tax leg: "Mexican financial entities withhold 0.5% of the interest." The buy and sell legs are priced on Etherfuse's Ramp Fees page, https:// docs .etherfuse .com /fees, fetched 29 September 2026, for Mexico (MXN) only. By rolling 30-day USD volume the tariff runs from "20 bps (0.20%)" at 0 to 5 million down to "5 bps (0.05%)" at 100 million and above. On a sale, the fee is charged in the bond token itself. The same page adds: "Organizations can configure an additional partner fee (up to 500 bps / 5.00%) on top of the platform fee." That partner fee is folded into the quoted fee and is not shown to the end buyer as a separate line, so a buyer cannot compute their own round trip from published pages. Neither page carries a version number or an effective date. No fiat price is published for any market except Mexico.Etherfuse (Stablebonds) — official pricing page ↗ · 29 September 2026 - Prices published in
- USDEtherfuse (Stablebonds) — official pricing page ↗ · 29 September 2026
- Licences held
- Not published
- Compliance level
- partial
- Regulatory note
- READ ON https://
app .etherfuse .com /legal /stablebonds-overview (19 August 2026, HTTP 200): 'Each Stablebond token represents a proportional economic claim whose value is based on the net asset value (NAV) of a segregated pool of sovereign-debt assets held in regulated custody.' - Supported chains
- stellar, solana, monad, base, polygon
- Markets served
- latam, europe, asia, global
- Primary markets
- Not published
- Restricted markets
- United States, Venezuela
- Operating limits
- Not published
- Availability note
- BOTH kinds of restriction are present and they must be told apart. (1) A GENUINE MARKET RESTRICTION, not an OFAC boilerplate: the United States appears in the vendor's own 20-country restricted list served at https://
api .etherfuse .com /lookup /restricted-countries and rendered at https:// app .etherfuse .com /legal /legal-qa #restricted-countries, flagged kyc:true - though CORRECTED ON RE-LOAD 19 August 2026, the US is returned with kyb:false, the only one of the 20 so flagged, meaning the vendor's own list excludes US individuals but NOT US business/institutional accounts - with the page stating 'Identity verification will not complete for residents of these countries.' The US is not an OFAC-sanctioned jurisdiction - it is excluded because the offer is a Regulation S offshore offering. The Terms & Conditions at https:// api .etherfuse .com /legal /terms-and-conditions confirm this is a securities-law market exclusion, not sanctions screening: 'The Holder is not a U.S. Person as defined in Rule 902(k) of Regulation S'. The app also geo-blocks in-product, per the string in the app bundle at https:// app .etherfuse .com /: 'Etherfuse services are not available in '. (2) STANDARD SANCTIONS LANGUAGE: the remaining 19 entries (Afghanistan, Belarus, Central African Republic, Cuba, Eritrea, Ethiopia, Guinea-Bissau, Iran, Iraq, Korea Democratic People's Republic of, Libya, Mali, Myanmar, Nicaragua, Russian Federation, Somalia, Sudan, Syrian Arab Republic, Venezuela) plus Customer Agreement Clause 13.2's OFAC / UNSC 1267 and 1373 / Mexican UIF representation and Clause 13.3's FATF grey-and-black-list exclusion are ordinary sanctions and AML rules that apply everywhere and are NOT a regional footprint. (3) SEPARATELY, an operational footprint: fiat rails are live in exactly one country - https:// docs .etherfuse .com /fees states '**Mexico (MXN)** is live today' and lists Brazil (BRL), Korea (KRW) and Argentina (ARS) as 'Upcoming'. Everything outside Mexico is a USDC-in / USDC-out route only. No page names a single jurisdiction in which the tokens ARE offered; the only inclusion mechanism published is 'reverse solicitation -that is, by means of a private and direct invitation-'. supportedRegions above is therefore an inference from the fiat rail (latam) and the underlying markets served (europe via GILTS/EUROB, asia via KTB) plus the wallet-based global reach outside the 20 blocked countries - it is not a vendor-published map, and that gap is recorded in unresolved.
No confirmed legal entity is on file for this record. Nothing is inferred from the brand name.
If something goes wrong with Etherfuse (Stablebonds): where to complain, and where to report a scam
Loading the routes for your country.
How this page is reviewed
Reviewed means this product in this category was read against its sources on or after that date; every ranked category is re-read at least every 45 days. Models research, extract and parse. A deterministic engine ranks. Every quote passes an adversarial refute pass.
Accountable for this review: Mathias Siemonsmeier, Founder.
How we review · Review calendar · Corrections log · How we make money
History
What the record carries
Changes to published ranks are recorded in a ledger; every step and its cause is listed on the rank-history page. The entries below begin with the current verified snapshot, then the methodology versions whose changes applied to this category, newest first.
10 methodology entries
- 29 September 2026Current verified snapshot · methodology 2026.10.18Score 69, #2 of 7. 4 of 4 criteria scored. History starts here; earlier values are not interpolated.
- 10 October 2026
2026.10.8When nothing serves your country, the list shown for reference is the published ranking · platform-wide- fixed The reference list shown when nothing serves your country is the published order with the published scores, and a build check now fails any such list out of that order or with a score the ranking does not publish.
- fixed The explorer prints an overall rank only for a row the published ranking holds; a country entrant such as Coinbase Commerce for US merchants shows no overall rank.
- changed Published orders do not move. Country results change only where nothing serves the country: in India bill pay keeps Bitcoin Well first and now shows Strike second, as published; 35 such runs across all categories and countries now match the published list exactly.
- 10 October 2026
2026.10.7Forty-one more products are offered only where their own quoted terms serve- fixed 141 country exclusions on 31 rows, each the name of a country the row's own quoted terms exclude: for example Mercuryo Hungary, China, Pakistan, Bangladesh, Chile, Colombia and Morocco; Gemini Custody the United Kingdom, Australia and the EU after its wind-down; Backed xStocks the US, Canada, the UK, Australia, Nigeria, the Philippines and Venezuela.
- changed Thirteen rows list the only countries their terms serve: Coins.ph the Philippines, Spritz bill pay, Brex, Unchained, WisdomTree, Franklin BENJI and AnchorWatch the United States (with its territories for AnchorWatch), PRYPCO Mint the UAE, N26 crypto seven EU countries, Gemini Tokenized Stocks the EU, XNET the US, Canada and the UK, Coldbit Steel and MetaMask Card the countries they list.
- changed Published (no-country) orders do not move. Country results change: in India six categories each lose one row (bill pay, cards, off-ramps, P2P, seed backup, tokenised real estate), and bill pay there has no row confirmed available, so it shows the published order marked as such; country pages list 23 fewer rows (24,357 to 24,334). The grounding test now matches full country names in any case, which shows seven earlier exclusions were quoted all along: the named debt of unquoted exclusions falls from 40 to 33 pairs.
- 10 October 2026
2026.10.6A criterion you require re-scores the rows that meet it · platform-wide- changed The explorer sends each criterion you require, at any band, as fit_required with your other answers; region, licence, chain and fact filters stay filters. On /best, a required criterion joins For you as a marked preference does, which needs your country; Overall stays the published ranking, filtered.
- added Every published criterion has a golden case as the explorer sends it (require:<criterion>), so the order a requirement gives is replayed and gated as the published order is, and a change to it needs an entry here.
Methodology 2026.10.18, the same published run every visitor sees · receipt tokenised_bonds:etherfuse_bonds_tok:2026.10.18:1c8b9a74b30d
Are you Etherfuse (Stablebonds)? Reply to this verdict, or send evidence, ask for a correction or claim the listing. Every message gets a public ticket number; none of it changes a rank unless a public page or a signed statement supports it.