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Tokenized Credit Fund With $40M TVL Hits Aave
Tokenized credit fund mGLOBAL from Midas and Fasanara Capital goes live on Aave with $40 million in total value locked. The fund lets investors use corporate receivables as collateral for stablecoin loans.
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Tokenized credit fund mGLOBAL went live on Aave on June 24, according to Midas, the platform that issued it. The fund holds corporate receivables and lets institutional investors use those positions as collateral to borrow stablecoins.
Issued by Midas, mGLOBAL is a security token linked to Fasanara Capital's flagship receivables strategy. The underlying portfolio invests in short-duration trade receivables and asset-based corporate finance loans, including invoices from digital supply chains. Fasanara, a London-based asset manager with over $6 billion under management, runs the strategy.
The fund draws from more than 60 countries and 140 independent credit originators, with over 700,000 open positions, according to Midas. mGLOBAL launched with $40 million in total value locked, backed by a seed allocation from InfiniFi, an institutional Web3 investment platform.
Midas was founded in 2024 and has since issued over $2 billion in digital assets and paid out $43 million in yields, the company said. Midas closed a $50 million Series A round earlier this year.