Provider at a glance
- Category
- Tokenised T-Bills
- Entity
- Not verified
- Official website
- mfsa.mt
Independent rankingchecked How it works
Details
Scored 47 out of 100 under methodology 2026.10.18, from the evidence read on file.
Midas mTBILL
Tokenised T-bill note
Tokenised T-Bills
#9 Overall
Ranked #9 of 9 tokenised T-bills in the published ranking
47
ChainChoice Score
The ChainChoice Score, shown against 100: published scores run from 41 to 99.- Low evidence confidence
Is Midas mTBILL right for you?
Right for you if these matter most
- Open to you8/10, the category best
Look elsewhere if these come first
- Legal claim1/10 here; Invesco USTB (Superstate) scores 7
- Redemption reality3/10 here; Invesco USTB (Superstate) scores 6
- Total fees2/10 here; Invesco USTB (Superstate) scores 9
Not yet tested for your country. Markets it lists: Europe.
to test where you can use it.
The rank above is the published one, the same for every reader. Find my best tokenised T-bill shows where it lands for you.
What will Midas mTBILL cost you?
Not priced on this basis
- Your balance
- $10k
How safe is Midas mTBILL?
- Evidence: unknown4 of 4 criteria scored; no receipt file yet. The score is provisional until a quoted source is on file.
- LicenceMiCA (EU): no register record on file here.
Alternatives to Midas mTBILL
Compare all 4- 6OpenEden TBILL12 points above · stronger on legal claim (4 against 1)59$35
- 7VanEck VBILL6 points above · stronger on legal claim (5 against 1)53
- 8Invesco USTB (Superstate)6 points above · stronger on legal claim (7 against 1)53$15
For your setup
Find out if Midas mTBILL fits you
The rank above is the published one — the same for every visitor. Answer the category's questions and this section shows where Midas mTBILL 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 T-billNothing is inferred from clicks, popularity or commercial value.
Why this rank
Why Midas mTBILL ranks #9
Each strength is read from evidence on a 0–10 ladder and weighted as the published methodology states. The 32 objective points these produce (12.0 here) sit inside the score; availability, friction, trust record and measured data add the rest. Best in this ranking on 1 of 4.
4 published criteria · Σ weight 100
CriterionWeightStrength · 0–10ScoreContrib.MedianBestRankEvidence
308+7.683.08#1/9Loading evidence…
281+0.906.010#9/9Loading evidence…
243+2.306.08#7/9Loading evidence…
182+1.155.09#8/9Loading evidence…
Hairline = best in this ranking · tick = its median · a missing bar is "not scored", never zero
Margin−6behind Invesco USTB (Superstate), #8
RobustnessHoldsacross a one-point change to each of its 4 criterion scores, the re-run scores 45–49 and stays #9
Evidence4 of 4 scoredno receipt file for this category
What would move the rank
Each line is the ranking run again with one of Midas mTBILL’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.
Legal claim quality 1 → 5 on its ladder · passes Invesco USTB (Superstate)+454#9 → #7
Redemption reality 3 → 7 on its ladder · passes Invesco USTB (Superstate)+453#9 → #8
Total fee load 2 → 8 on its ladder · passes Invesco USTB (Superstate)+654#9 → #7
Smallest climb: legal claim quality 1 → 5 passes Invesco USTB (Superstate), #8.
Strengths
1 from the score dataWhere it leads
Best for readers who weight
- Who can actually buy it — 8/10, the category best
Tradeoffs
3 from the score dataWhere it trails
Not for readers who put first
- Legal claim quality — 1/10 against a category best of 10/10
- Redemption reality — 3/10 against a category best of 8/10
- Total fee load — 2/10 against a category best of 9/10
Record watch-outs
- A SUBORDINATED note against a German GmbH — not a fund share, and worse than a plain note
- Public offer in six named countries (LI, DE, LU, FR, ES, IT) plus any EEA country notified under the prospectus — elsewhere exemptions apply; not offered to US citizens or residents
- “Zero fee” framings are structurally wrong — the prospectus provides for issuance and redemption fees
- Instant redemption is pool-capacity dependent with a fixed fee; standard redemptions usually settle T+2 or later, depending on the product
Competitive position
Where Midas mTBILL 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#6 / 96.0 of 20 · best 14.0
Published criteria#7 / 99.0 of 30 · best 19.4
Friction#1 / 97.3 of 10 · pool best
Trust record#9 / 93.2 of 8 · best 6.4
Measured data#1 / 99.7 of 18 · constant here
Where Midas mTBILL leads
- Who can actually buy it#1 / 9
Where it trails
- Legal claim quality#9 / 9
- Redemption reality#7 / 9
- Total fee load#8 / 9
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.
Invesco USTB (Superstate)#8 of 9 · score 53 · 6.0 points ahead
Midas mTBILL leads on
- Who can actually buy it8 vs 2
Invesco USTB (Superstate) leads on
- Legal claim quality7 vs 1
- Redemption reality6 vs 3
- Total fee load9 vs 2
Largest single reason Invesco USTB (Superstate) is ahead: published criteria (+11.7 display points).Scenario cost: Midas mTBILL has no verified pricing for this scenario.
VanEck VBILL#7 of 9 · score 53 · 6.0 points ahead
Midas mTBILL leads on
- Who can actually buy it8 vs 2
- Redemption reality3 vs 2
- Total fee load2 vs 1
VanEck VBILL leads on
- Legal claim quality5 vs 1
Largest single reason VanEck VBILL is ahead: availability (+20.8 display points).Scenario cost: VanEck VBILL has no verified pricing for this scenario.
OpenEden TBILL#6 of 9 · score 59 · 12.0 points ahead
Midas mTBILL leads on
- Who can actually buy it8 vs 3
OpenEden TBILL leads on
- Legal claim quality4 vs 1
- Total fee load3 vs 2
Largest single reason OpenEden TBILL is ahead: availability (+20.8 display points).Scenario cost: Midas mTBILL has no verified pricing for this scenario.
Against the leader
81 vs 47 · gap 34.0Why Franklin Templeton BENJI (FOBXX) ranks above Midas mTBILL
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 34.0 to within rounding. Midas mTBILL is ahead on friction (+1.6 in its favour).
DimensionThisFranklin Templeton BENJI (FOBXX)Gap share
Availability · 23% weight6.06.0same
Published criteria · 35% weight9.019.4−27.0, worse
Friction · 12% weight7.36.7+1.6, better
Trust record · 9% weight3.26.4−8.3, worse
Measured data · 21% weight · constant here9.79.7same
Published criterionThisFranklin Templeton BENJI (FOBXX)Points
Legal claim quality · w28110−8.06, worse
Redemption reality · w2436−2.30, worse
Total fee load · w1828−3.46, worse
Net4781−34.0
Your scenario
Midas mTBILL 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 14 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 median$256 of 9 rows priced
Cheapest priced$15 · Invesco USTB (Superstate)Difference not stated · availability not applied — set your country to filterCompare with Invesco USTB (Superstate)
3 of 9 rows in this ranking have no verified rate for this scenario and are absent from the median, not counted as free.
Evidence
No evidence reading date recorded
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 evidenceUnknownno observation on file
No structured observation on file for this category; the strengths are the catalog’s published values.Public receiptsReading…category publishes no receipt file
The receipt file has not been read yet.Evidence confidenceNot yet ratedcoverage and corroboration, never freshness
No structured observation on file for this category; the receipt count is not counted.RobustnessHoldsrank #9 across every one-point re-run
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.No structured observation is on file for this provider in this category; the strengths are the catalog’s published values.
9 listed rows in this category still await an evidence read and sit outside the scored pool.
Reading the evidence ledger…
CriterionSourceTypeReadFreshnessStatusReceipt
Who can actually buy itstrength 8 · weight 30Report an error——
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.Legal claim qualitystrength 1 · weight 28Report an error——
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.Redemption realitystrength 3 · weight 24Report an error——
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.Total fee loadstrength 2 · weight 18Report an error——
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 (Midas mTBILL 1/10): the firm or issuer that owes you cannot pay.Scored by Legal claim quality · 28%
- Regulatory failure (Midas mTBILL 8/10): no licence where you are, or a forced market exit.Scored by Who can actually buy it · 30%
- Exit failure (Midas mTBILL 3/10): you cannot get out at par, on time, or with what is yours.Scored by Redemption reality · 24%
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: Total fee load (18%).
Facts
facts, not scoresWhat the record publishes
- Pricing
- NO defensible single rate. The base prospectus provides for a Token Issuance Fee and a Token Redemption Fee, each a percentage set in the product's Final Terms, and Midas says each token's exact fee structure is defined in its pricing supplement. Standard redemptions are always free of charge and settle at the NAV prevailing when the request is fulfilled, usually T+2 or later depending on the product. Instant redemption depends on pool capacity and carries a fixed fee, typically 20 to 100 basis points. Minting is usually free, with a small fee possible for less common payment tokens.Midas base prospectus (FMA-approved) + Midas documentation ↗ · 14 September 2026
- Prices published in
- USDMidas base prospectus (FMA-approved) + Midas documentation ↗ · 14 September 2026
- Licences held
- Not published
- Compliance level
- full
- Regulatory note
- Not published
- Supported chains
- Ethereum, Base
- Markets served
- europe
- Primary markets
- Institutional and qualified investors
- Restricted markets
- Not published
- Operating limits
- Public offer in six named EEA jurisdictions plus any notified under Art. 25 of the Prospectus Regulation; elsewhere exempt offers only; not offered to US citizens or residents.
- Availability note
- Public offer permitted in Liechtenstein, Germany, Luxembourg, France, Spain and Italy, plus any other EEA country the base prospectus has been notified to. Elsewhere in the EEA, offers must rely on exemptions. Midas tokens are not offered to US citizens or residents.
No confirmed legal entity is on file for this record. Nothing is inferred from the brand name.
If something goes wrong with Midas mTBILL: 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.
12 methodology entries
- currentCurrent verified snapshot · methodology 2026.10.18Score 47, #9 of 9. 4 of 4 criteria scored. History starts here; earlier values are not interpolated.
- 15 October 2026
2026.10.10The live-data rule names the researched market measurements a criterion reads- changed The live-data rule names a second kind of figure a score reads: a researched, dated market measurement a criterion's ladder is built on, read again on the 45-day review. /methodology/live-data lists the 14 criteria that read one; no score, rank or order changes.
- changed A saved decision is checked again on the answers the reader saved. The drift check had merged a priority suggested by the market (price swings, gas) into those answers, so a market reading could move a saved decision's #1; the published ranking never read it.
- added On every build a test reads every criterion's published ladder: one that names a market quantity or a market-data source must be declared, and every scored row of a declared criterion must carry the source and the date its figure was read.
- 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.
Methodology 2026.10.18, the same published run every visitor sees · receipt tokenised_tbills:midas_mtbill:2026.10.18:4ec2d9728d0f
Are you Midas mTBILL? 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.