28 May 2026 15:36 UTC
Securitize launched VanEck's VBILL as a collateral asset in an Euler lending market curated by KPK on Thursday.
➤ The move signifies a growing connection between institutional-grade tokenized assets and DeFi infrastructure, with VBILL managing $61 million in assets.
➤ This integration, facilitated by Securitize, allows users to borrow crypto assets against their VBILL holdings while still earning Treasury yield.
➤ VanEck's tokenized U.S. Treasury fund, VBILL, can now be used as collateral on the decentralized lending protocol Euler.
Quick Take
• Securitize introduced VBILL into a Euler lending market curated by KPK on Thursday, enabling holders to borrow other crypto assets against their VBILL collateral.
• According to RWA.xyz, VBILL has $61 million in assets under management and approximately 30 onchain wallet addresses.
• VanEck’s tokenized U.S. Treasury fund VBILL can now serve as collateral on Euler, expanding its onchain utility.
• Securitize launched VBILL on a live Euler market curated by KPK, letting users borrow crypto while still earning Treasury yield.
• VBILL, launched in May 2025, held $61 million across about 30 wallets Thursday, with a 3.38% seven-day APY and 0.20% fee.
VanEck’s tokenized U.S. Treasury fund, VBILL, can now be used as collateral on decentralized lending protocol Euler, expanding the utility of the onchain U.S. Treasuries investment vehicle.
According to an announcement on Thursday, Securitize launched VBILL live on a Euler lending market curated by KPK. Users can now deposit their VBILL tokens to borrow other crypto assets against them and participate in DeFi strategies while still earning the fund’s Treasury yield.
"VBILL's availability on Euler is another step in connecting tokenized Treasury exposure to DeFi infrastructure. The integration reflects how institutional-grade assets and decentralized lending markets are beginning to work together onchain," VanEck Product Manager Jon Casterline said.
The move builds on Securitize’s DS Protocol, which was previously integrated with Euler. The protocol offers a blockchain-based framework designed to issue, manage, and transfer security tokens using a system where compliance needs are enforced onchain.
VBILL, launched in May 2025, is a $61 million fund as of Thursday, across approximately 30 onchain wallet addresses. The fund is returning a 3.38% seven-day APY and charges a 0.20% management fee, according to RWA.xyz.
Securitize previously launched VBILL on an Aave Horizon market. The fund was initially launched across the Avalanche, BNB Chain, Ethereum, and Solana blockchains, with cross-chain interoperability enabled by Wormhole.
Categories rationale: The article primarily discusses a tokenized U.S. Treasury fund (VBILL) being integrated into a DeFi lending protocol (Euler). Therefore, 'asset-types' with a focus on 'financial-instruments' and 'public-debt' with a focus on 'tokenized-us-treasuries' are relevant. The core functionality described is using RWAs as collateral in DeFi, making 'integration-with-defi' and 'rwa-collateral-lending' key categories.Characteristics justification: The article highlights a positive development in the tokenization space, showcasing increased utility for tokenized Treasuries and integration with DeFi. The tone is optimistic about connecting traditional finance with decentralized systems, reflected in the positive sentiment score. The novelty is moderate as it's an integration, not a groundbreaking new asset class. Relevance is high due to specific firm actions (VanEck, Securitize, Euler). Staleness is low as it's a recent announcement. Uncertainty is low as the integration is live and functional.Tag relevance: The tags 'VBILL', 'VanEck', 'Euler', and 'Securitize' are central entities. 'Collateral', 'treasury yield', 'DeFi', and 'tokenized treasuries' capture the core concepts and the asset class being discussed, providing a comprehensive overview of the article's content.asset-types: treasury
rwa: true
entropy: 0.3
sentiment: 0.6
staleness: 0.2
relevance: 0.8
uncertainty: 0.1RWATimes slug: theblock-van-ecks-tokenized-vbill-us-treasury-fund-can-now-be-used-as-collateral-on-euler-2217388012