VanEck's tokenized Treasury fund goes live on Euler as DeFi…

VanEck's VBILL tokenized Treasury fund, issued by Securitize, is now live on Euler's DeFi lending markets — allowing investors to post tokenized U.S. Treasuries as onchain collateral and borrow against them while staying within the asset's compliance guardrails. Euler, which holds over $320 million on platform, pivoted toward institutional use cases earlier this year after originally running as a fully permissionless protocol.

The integration is powered by Securitize's DS Protocol, which lets tokenized securities interact with lending markets while preserving investor eligibility requirements and transfer restrictions. Pricing is fed through RedStone oracles. Graham Ferguson, Securitize's head of ecosystem, called the shift notable: "There are protocols now that are excited to integrate permissioned assets — this is something that previously had not been the case."

Tokenized U.S.