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Eligibility file · Note

Midas mTBILL

What the client owns
Secured note tracking a portfolio of sub-three-month U.S. Treasury bills held through BlackRock’s BUIDL and Treasury funds, verified daily by a third party. Issuer direct: The on-chain record is the securityholder file; the holder is the registered owner.
Who may hold it
Not offered to US persons. First purchase $1. The base prospectus bars citizens and residents of the United States, Canada, China, Australia, and Iran. Midas sets no on-chain limit on transfers between wallets; it checks eligibility only at issuance and redemption.
Who can freeze or claw back
Ethereum: can freeze a holder, pause transfers, claw back, mint, change the code. A single key can freeze a holder and pause transfers. A single key holds the redemption vault admin key. Code changes must pass through a timelock with a 2-day delay.
Base: can freeze a holder, pause transfers, claw back, mint, change the code. A single key can freeze a holder and pause transfers and claw back tokens. A single key holds the admin key. Code changes must pass through a timelock with a 2-day delay.
How a holder redeems
Redeem with the issuer in its window. Eligible holders can redeem through an instant redemption vault while it has liquidity; Midas processes standard redemptions at the published NAV. Settles in USD, USDC, USDT, EUR.

This file replaced an earlier version on 2026-09-23. Superseded the same day: permissionless transfer had been filed as a venue. It is a fact about the contract, already recorded as no allowlist in the control table, and is now stated as a term rather than a place to trade. Earlier versions.

Subscribers see which of their clients hold this program and whether each household qualifies under these terms, and Ketju emails them when the file changes. $299 per firm per month, first 30 days free.

The verdict is on the memo: Midas (mTBILL / mBASIS / mBTC) Not approved

Issuer
Midas Software GmbH (Liechtenstein FMA-approved prospectus); secured note tracking short U.S. Treasury bills
Registration
Other
Official record
Midas (the token contract is the noteholder register; no transfer agent)
Instruments
MTBILL
Chains
Ethereum, Base
Reviewed
2026-09-23
Next review
2027-03-23

Eligibility

Each answer quotes the issuer’s own words from the document named under it. Ketju reads each document again and records whether the words are still there. Where the documents say nothing, the row states that.

Who may hold it

No citizens or residents of the US, Canada, China, Australia, or Iran, and no entities formed under their laws.

“the investor is neither a citizen of nor does possess a permanent residence or working permit for the United States of America (USA), Canada, China, Australia or Iran and has no residence or registered office within the territory of one of these states;”

Midas Software GmbH, Base Prospectus dated 17 July 2024 (FMA Liechtenstein approved; MFSA filing copy) · General Terms and Conditions, 2.2 a) · words found 2026-09-23

First purchase minimum

USD 1.00.

“Minimum Investment Amount USD 1.00”

Midas Software GmbH, Final Terms for mTBILL Tokens dated 7 October 2024 (MFSA filing copy) · Part A, Contractual Terms table · words found 2026-09-23

Account types

People, companies, and partnerships with legal personality, if they pass the eligibility tests.

“Eligible to purchase and/or redeem Tokens are all natural and legal persons as well as partnerships with a legal personality if they fulfil the following requirements:”

Midas Software GmbH, Base Prospectus dated 17 July 2024 (FMA Liechtenstein approved; MFSA filing copy) · General Terms and Conditions, 2.2 · words found 2026-09-23

Who it may be transferred to

Holders may sell tokens to each other over the counter, in bilateral trades.

“Subject to contrary provisions in the Final Terms, Blockchain-based Certificates are transferable and may be traded by Tokenholders in markets they chose via OTC-Contracts, i.e. on a bilateral basis.”

Midas Software GmbH, Base Prospectus dated 17 July 2024 (FMA Liechtenstein approved; MFSA filing copy) · Program description, B.1 Trading through OTC Contracts · words found 2026-09-23

How a holder redeems

Midas pays a KYC-cleared holder within ten business days of a redemption request.

“If the Tokenholder is Greenlisted, the Issuer shall transfer the relevant Redemption Amount to the Tokenholder’s wallet or account within ten Business Days after notice of the exercise of the Issuer Call Option by the Issuer or notice of receipt of the Tokenholder Order Request Form by the Issuer.”

Midas Software GmbH, Base Prospectus dated 17 July 2024 (FMA Liechtenstein approved; MFSA filing copy) · General Terms and Conditions, 5.3 · words found 2026-09-23

Who keeps the official record

The documents name no register; Midas counts as holders only KYC-cleared wallets that hold tokens.

“The Issuer will recognize and acknowledge as Tokenholders only those persons who both hold Tokens, and who have successfully completed the KYC/AML Requirements.”

Midas Software GmbH, Base Prospectus dated 17 July 2024 (FMA Liechtenstein approved; MFSA filing copy) · General Terms and Conditions, 4.1 · words found 2026-09-23

What the issuer says it can freeze or take back

Midas may move or delete tokens against the holder’s will to obey the law or a court order.

“In order to comply with legal obligations and official or court orders, Tokens may also be transferred or deleted without or against the will of the Tokenholders.”

Midas Software GmbH, Base Prospectus dated 17 July 2024 (FMA Liechtenstein approved; MFSA filing copy) · General Terms and Conditions, 4.3 · words found 2026-09-23

FactAnswer
Who onboards the holderissuer
Voting rightsNone
Distributionsreinvested
SIPC coverage of the walletNo

Who controls it

Ketju read these powers from the deployed contracts and their verified source code: the token and every contract it checks on a transfer. A power listed here is something the issuer can do; it does not mean the issuer has used it.

ChainFreeze a holderPauseClaw backGate holdersChange the codeKeys held by
EthereumYesYesYesNoYesA single key can freeze a holder and pause transfers. A single key holds the redemption vault admin key. Code changes must pass through a timelock with a 2-day delay.
BaseYesYesYesNoYesA single key can freeze a holder and pause transfers and claw back tokens. A single key holds the admin key. Code changes must pass through a timelock with a 2-day delay.

Who holds the keys

Ketju read every current holder of each power from the chain on 2026-09-24. A single key is one private key, and whoever holds it acts alone. A multisig needs the stated number of signers. A timelock delays every action, so holders can see it before it takes effect.

ChainKeyWhat it can doHeld byAddress
EthereumProxy adminchange the codea contract run by a timelock with a 2-day delay0xbf25…0aac
EthereumM tbill mint operator rolemint new tokensa contract0x9936…6683
EthereumM tbill burn operator roleclaw back tokensa contract0xf6e5…4517
EthereumM tbill burn operator roleclaw back tokensa contract0x569d…f0ec
EthereumBlacklist operator rolefreeze a holdera single key0x0b10…cdf5
EthereumGreenlist operator roledecide who may holda single key0x0b10…cdf5
EthereumRedemption vault admin rolegrant and revoke these powersa single key0x2acb…9a12
EthereumDeposit vault admin rolegrant and revoke these powersa single key0x2acb…9a12
EthereumAdmin rolegrant and revoke these powersa single key0xd419…1227
EthereumGreenlist operator roledecide who may holda single key0xb755…f21d
EthereumBlacklist operator rolefreeze a holdera single key0xb755…f21d
EthereumGreenlist operator roledecide who may holda single key0xc91d…990d
EthereumBlacklist operator rolefreeze a holdera single key0xc91d…990d
EthereumGreenlist operator roledecide who may holda single key0x3e23…97a0
EthereumBlacklist operator rolefreeze a holdera single key0x3e23…97a0
EthereumGreenlist operator roledecide who may holda single key0x4f75…eeea
EthereumBlacklist operator rolefreeze a holdera single key0x4f75…eeea
EthereumGreenlist operator roledecide who may holda single key0xa4bc…fff9
EthereumBlacklist operator rolefreeze a holdera single key0xa4bc…fff9
EthereumGreenlist operator roledecide who may holda single key0x2fac…bbd2
EthereumBlacklist operator rolefreeze a holdera single key0x2fac…bbd2
EthereumGreenlist operator roledecide who may holda single key0x1720…b00f
EthereumBlacklist operator rolefreeze a holdera single key0x1720…b00f
EthereumGreenlist operator roledecide who may holda single key0x7f81…c530
EthereumBlacklist operator rolefreeze a holdera single key0x7f81…c530
EthereumGreenlist operator roledecide who may holda single key0x428d…cea4
EthereumBlacklist operator rolefreeze a holdera single key0x428d…cea4
EthereumGreenlist operator roledecide who may holda single key0xc888…5f75
EthereumBlacklist operator rolefreeze a holdera single key0xc888…5f75
EthereumGreenlist operator roledecide who may holda single key0xc4da…8b2e
EthereumBlacklist operator rolefreeze a holdera single key0xc4da…8b2e
EthereumGreenlist operator roledecide who may holda single key0x120f…4f0a
EthereumBlacklist operator rolefreeze a holdera single key0x120f…4f0a
EthereumAdmin rolegrant and revoke these powersa 1-of-3 multisig0xb608…7e89
EthereumGreenlist operator roledecide who may holda single key0x60b8…d466
EthereumBlacklist operator rolefreeze a holdera single key0x60b8…d466
EthereumBlacklist operator rolefreeze a holdera single key0x5683…4e25
EthereumGreenlist operator roledecide who may holda single key0x5683…4e25
EthereumBlacklist operator rolefreeze a holdera single key0xe10a…d9d3
EthereumGreenlist operator roledecide who may holda single key0xe10a…d9d3
EthereumM tbill pause operator rolepause transfersa single key0x7ef5…59dd
EthereumBlacklist operator rolefreeze a holdera single key0x6cf7…edc5
EthereumGreenlist operator roledecide who may holda single key0x6cf7…edc5
EthereumBlacklist operator rolefreeze a holdera single key0xcfa6…2256
EthereumGreenlist operator roledecide who may holda single key0xcfa6…2256
EthereumBlacklist operator rolefreeze a holdera single key0x743f…8619
EthereumGreenlist operator roledecide who may holda single key0x743f…8619
EthereumBlacklist operator rolefreeze a holdera single key0x1118…b85d
EthereumGreenlist operator roledecide who may holda single key0x1118…b85d
EthereumBlacklist operator rolefreeze a holdera single key0x4a2d…6f1a
EthereumGreenlist operator roledecide who may holda single key0x4a2d…6f1a
EthereumBlacklist operator rolefreeze a holdera single key0x96ed…e84d
EthereumGreenlist operator roledecide who may holda single key0x96ed…e84d
EthereumBlacklist operator rolefreeze a holdera single key0x329d…6717
EthereumGreenlist operator roledecide who may holda single key0x329d…6717
EthereumBlacklist operator rolefreeze a holdera single key0xae30…03cd
EthereumGreenlist operator roledecide who may holda single key0xae30…03cd
EthereumBlacklist operator rolefreeze a holdera single key0xa264…b5c8
EthereumGreenlist operator roledecide who may holda single key0xa264…b5c8
EthereumBlacklist operator rolefreeze a holdera single key0xa328…6f6a
EthereumGreenlist operator roledecide who may holda single key0xa328…6f6a
EthereumBlacklist operator rolefreeze a holdera single key0x3714…e708
EthereumGreenlist operator roledecide who may holda single key0x3714…e708
EthereumBlacklist operator rolefreeze a holdera single key0x92bf…8e94
EthereumGreenlist operator roledecide who may holda single key0x92bf…8e94
EthereumBlacklist operator rolefreeze a holdera single key0x081b…3169
EthereumGreenlist operator roledecide who may holda single key0x081b…3169
EthereumBlacklist operator rolefreeze a holdera single key0x8d5c…44ef
EthereumGreenlist operator roledecide who may holda single key0x8d5c…44ef
EthereumBlacklist operator rolefreeze a holdera single key0x8781…e00d
EthereumGreenlist operator roledecide who may holda single key0x8781…e00d
EthereumBlacklist operator rolefreeze a holdera single key0x2e93…600d
EthereumGreenlist operator roledecide who may holda single key0x2e93…600d
EthereumBlacklist operator rolefreeze a holdera single key0xc072…0a72
EthereumGreenlist operator roledecide who may holda single key0xc072…0a72
EthereumBlacklist operator rolefreeze a holdera single key0x4a13…4341
EthereumGreenlist operator roledecide who may holda single key0x4a13…4341
EthereumBlacklist operator rolefreeze a holdera single key0x6839…afb4
EthereumGreenlist operator roledecide who may holda single key0x6839…afb4
EthereumBlacklist operator rolefreeze a holdera single key0x76e3…d361
EthereumGreenlist operator roledecide who may holda single key0x76e3…d361
EthereumBlacklist operator rolefreeze a holdera single key0x7191…024d
EthereumGreenlist operator roledecide who may holda single key0x7191…024d
EthereumBlacklist operator rolefreeze a holdera single key0x9f2b…a128
EthereumGreenlist operator roledecide who may holda single key0x9f2b…a128
EthereumBlacklist operator rolefreeze a holdera single key0xaddb…4b18
EthereumGreenlist operator roledecide who may holda single key0xaddb…4b18
EthereumBlacklist operator rolefreeze a holdera single key0x9ba8…c987
EthereumGreenlist operator roledecide who may holda single key0x9ba8…c987
EthereumBlacklist operator rolefreeze a holdera single key0xb5a2…3882
EthereumGreenlist operator roledecide who may holda single key0xb5a2…3882
EthereumBlacklist operator rolefreeze a holdera single key0x2c4c…d2da
EthereumGreenlist operator roledecide who may holda single key0x2c4c…d2da
EthereumBlacklist operator rolefreeze a holdera single key0x20d4…5125
EthereumGreenlist operator roledecide who may holda single key0x20d4…5125
EthereumBlacklist operator rolefreeze a holdera single key0xb5cc…ef05
EthereumGreenlist operator roledecide who may holda single key0xb5cc…ef05
EthereumBlacklist operator rolefreeze a holdera single key0x5ba8…f4c0
EthereumGreenlist operator roledecide who may holda single key0x5ba8…f4c0
EthereumBlacklist operator rolefreeze a holdera single key0xc819…05cb
EthereumGreenlist operator roledecide who may holda single key0xc819…05cb
EthereumBlacklist operator rolefreeze a holdera single key0xeca2…976d
EthereumGreenlist operator roledecide who may holda single key0xeca2…976d
EthereumBlacklist operator rolefreeze a holdera single key0xa13f…4f07
EthereumGreenlist operator roledecide who may holda single key0xa13f…4f07
EthereumBlacklist operator rolefreeze a holdera single key0x462c…15aa
EthereumGreenlist operator roledecide who may holda single key0x462c…15aa
EthereumBlacklist operator rolefreeze a holdera single key0xf965…3350
EthereumGreenlist operator roledecide who may holda single key0xf965…3350
EthereumBlacklist operator rolefreeze a holdera single key0x50b0…e8c2
EthereumGreenlist operator roledecide who may holda single key0x50b0…e8c2
EthereumBlacklist operator rolefreeze a holdera single key0x7ebf…5bd4
EthereumGreenlist operator roledecide who may holda single key0x7ebf…5bd4
EthereumBlacklist operator rolefreeze a holdera single key0x28e4…478c
EthereumGreenlist operator roledecide who may holda single key0x28e4…478c
EthereumBlacklist operator rolefreeze a holdera single key0x1202…d424
EthereumGreenlist operator roledecide who may holda single key0x1202…d424
EthereumBlacklist operator rolefreeze a holdera single key0xd481…dcd1
EthereumGreenlist operator roledecide who may holda single key0xd481…dcd1
EthereumBlacklist operator rolefreeze a holdera single key0xf5f5…edfd
EthereumGreenlist operator roledecide who may holda single key0xf5f5…edfd
EthereumGreenlist operator roledecide who may holda contract0x805c…cdb1
BaseProxy adminchange the codea contract run by a timelock with a 2-day delay0xbf25…0aac
BaseM tbill mint operator rolemint new tokensa contract0x8978…1470
BaseM tbill burn operator roleclaw back tokensa contract0x2a8c…b656
BaseAdmin rolegrant and revoke these powersa single key0xd419…1227
BaseRedemption vault admin rolegrant and revoke these powersa single key0x2acb…9a12
BaseDeposit vault admin rolegrant and revoke these powersa single key0x2acb…9a12
BaseBlacklist operator rolefreeze a holdera single key0xb755…f21d
BaseGreenlist operator roledecide who may holda single key0xb755…f21d
BaseBlacklist operator rolefreeze a holdera single key0x2fac…bbd2
BaseGreenlist operator roledecide who may holda single key0x2fac…bbd2
BaseGreenlist operator roledecide who may holda single key0xc91d…990d
BaseBlacklist operator rolefreeze a holdera single key0xc91d…990d
BaseGreenlist operator roledecide who may holda single key0xa4bc…fff9
BaseBlacklist operator rolefreeze a holdera single key0xa4bc…fff9
BaseAdmin rolegrant and revoke these powersa 1-of-3 multisig0xb608…7e89
BaseM tbill pause operator rolepause transfersa single key0x7ef5…59dd
BaseBlacklist operator rolefreeze a holdera single key0x3714…e708
BaseGreenlist operator roledecide who may holda single key0x3714…e708
BaseBlacklist operator rolefreeze a holdera single key0xb409…e772
BaseGreenlist operator roledecide who may holda single key0xb409…e772
BaseBlacklist operator rolefreeze a holdera single key0xa13f…4f07
BaseGreenlist operator roledecide who may holda single key0xa13f…4f07
BaseM tbill mint operator rolemint new tokensa single key0x7ef5…59dd
BaseM tbill burn operator roleclaw back tokensa single key0x7ef5…59dd
Ethereum: 3 contract reads, 4 functions in verified source, 2026-09-23
Read from the chain
  • eip1967.implementation=0xd4998cc1ba435298c521f250b81856b1f25c8455
  • eip1967.admin=0xbf25b58cb8dfad688f7bcb2b87d71c23a6600aac
  • paused()=false
Read from verified source
Base: 3 contract reads, 4 functions in verified source, 2026-09-23
Read from the chain
  • eip1967.implementation=0xefed40d1eb1577d1073e9c4f277463486d39b084
  • eip1967.admin=0xbf25b58cb8dfad688f7bcb2b87d71c23a6600aac
  • paused()=false
Read from verified source

Where it trades

VenueKind
Midas issuance and redemptionissuer primary

Redemption

RouteSettlementSettles in
Redeem with the issuer in its windowEligible holders can redeem through an instant redemption vault while it has liquidity; Midas processes standard redemptions at the published NAVUSD, USDC, USDT, EUR

Daily checks

Every day Ketju reads each control function in the table above and the contracts the token checks on a transfer. Ketju compares the token’s on-chain supply with yesterday’s, and its market quote with yesterday’s quote, since a fund of this kind accrues a few basis points a day. Ketju also reads every document quoted above and reviews the file again if a quoted passage disappears from its document. Ketju counts a new, removed, or changed key as a change only when the chain’s own log shows the grant, revocation, or signer change since yesterday. If the log does not show it, Ketju updates the key list in this file and does nothing more. A change opens a review before any client action. Subscribers get an email that names each of their clients who hold the token, with the household result.

File history

Ketju has revised this file 2 times since filing it. Ketju keeps each earlier version as published, with the reason for the change.

DateChange
2026-09-23Filed.
2026-09-23Revised. Superseded the same day: permissionless transfer had been filed as a venue. It is a fact about the contract, already recorded as no allowlist in the control table, and is now stated as a term rather than a place to trade.
2026-09-23Revised. Superseded to quote the issuer’s terms: the final terms set a USD 1.00 minimum and settle in USD, USDC, USDT, and euro, and the prospectus bars Canada, China, Australia, and Iran as well as the United States.

Sources

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