EUROB, issued by Etherfuse Mx, S.A. de C.V., is a tokenized government bond (Stablebond) that grants the holder a credit right against the nominal value of sovereign debt held by regulated Mexican custodians [S1][S2].

Each EUROB token tracks a non-U.S. government Eurobond, with the holder economically entitled to the nominal value of the backing financial asset and its accessories upon maturity [S3][S4]. Yield derives from the underlying instrument and accrues through rising token price rather than periodic distribution, with rates adjusting automatically to market conditions [S5]. Etherfuse charges a variable fee tied to the underlying yield, ranging from 0.25% below 4.5% to 1.5% at or above 10%, plus a 0.5% Mexican interest withholding [S3].

Etherfuse Mx, S.A. de C.V. is incorporated in Mexico under public deed 46,971 dated June 7, 2023, and relies on Comisión Nacional Bancaria y de Valores (CNBV) Resolution P090/2024, which states the Tokens "do not constitute Securities" and require no authorization [S1][S6]. Etherfuse states it is not a bank or brokerage [S3]. The claim is a right to payment under a mercantile commission arrangement, not asset ownership [S1][S2]. Access is restricted in 23 jurisdictions, including the United States, and requires KYC onboarding [S3][S4]. Holders redeem instantly to USDC for a 10 basis point fee or sell on secondary venues; assets are bankruptcy-remote and segregated [S2][S5].

Stablebonds are issued natively on Solana as audited Rust programs and are available across Stellar, Base, Polygon, and Monad via bridge [S6][S4][S5]. Bonds are acquired through licensed brokerages using INDEVAL custody, then minted onchain; holders purchase with and redeem to U.S. dollar coin (USDC), receiving yield through smart contract token-price accrual [S5].

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  retrievedAt="2026-06-21"
  items={[
    { id: "S1", url: "https://app.etherfuse.com/legal/legal-qa" },
    { id: "S2", url: "https://app.etherfuse.com/legal/asset-security" },
    { id: "S3", url: "https://app.etherfuse.com/legal/stablebonds-overview" },
    { id: "S4", url: "https://etherfuse.com/" },
    { id: "S5", url: "https://app.etherfuse.com/bonds/cetes" },
    { id: "S6", url: "https://app.etherfuse.com/legal/compliance-and-audits" },
  ]}
/>


Tokenized funds

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Etherfuse

Etherfuse EUROB (EUROB) is a tokenized fund share issued by Etherfuse through Etherfuse Liquid MX, S.A.P.I. de C.V.

Each token is a direct claim on the issuer.

The fund is open-ended, invests in government debt in Europe, keeps its assets in accounts segregated within a bankruptcy-remote structure, and locks up subscriptions for 0 months.

Its assets sit with Spiko, with BHR México as auditor.

Retail investors and institutions can subscribe and redeem in USDC, with a USDC 1 minimum after completing KYC, and holders have a right to redeem at net asset value.

Etherfuse Liquid MX, S.A.P.I. de C.V. is incorporated in Mexico, is offered under an SEC Regulation S exemption, and is structured under the Swiss DLT Act.

Holder terms are governed by the law of Mexico.

EUROB has been issued on public blockchains since September 2024 and is native to Solana, Base, Polygon, Stellar, and Monad.

Etherfuse EUROBEUROB

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