Stablecoin Midas, which is backed by US Treasury bonds, plans to issue its stUSD token on DeFi platforms such as MakerDAO, Uniswap, and Aave in the coming weeks, according to an internal document obtained by CoinDesk. The platform claims that Midas stUSD is 100% backed by US Treasury bonds and is issued as a debt security under German law. The Midas stablecoin project reportedly plans to purchase US Treasury bonds through BlackRock and use Circle Internet Financial's USDC stablecoin as a funding channel, with custody technology provider Fireblocks and blockchain analytics firm Coinfirm also listed as institutional partners. The Midas team includes Fabrice Grinda, founder and executive chairman of blank check company Global Technology Acquisition Corp. (GTAC); and Dennis Dinkelmeyer, vice president of GTAC.