🥇 Meet Midas: A New Yield-Bearing Stablecoin Investing in U.S. Treasuries A new addition to the current convergence trend between crypto and traditional finance is Midas, a stablecoin backed by U.S. Treasuries that's planning to unleash its stUSD token on decentralized finance (DeFi) platforms like MakerDAO, Uniswap and Aave in the coming weeks, according to a presentation deck seen by CoinDesk. The Midas stablecoin project intends to buy Treasuries via asset manager BlackRock and use Circle Internet Financial's USDC stablecoin as an on-ramp, according to the deck. Custody technology provider Fireblocks and blockchain analytics firm Coinfirm are also listed as institutional partners.