Midas tokenizes Fasanara's F-ONE fund for onchain exposure to private credit, digital asset strategies

Tokenization startup Midas has launched a blockchain-native investment certificate that provides onchain exposure to a basket of private credit and digital asset strategies, the firm announced on Friday. The product, called mF-ONE, will track the performance of boutique investment firm Fasanara Capital’s F-ONE fund.

Fasanara’s F-ONE fund makes allocations across fintech-originated receivables, small and medium enterprise lending, real estate-backed credit, and delta-neutral trading strategies.

“By combining short-duration private credit with uncorrelated digital market strategies, the reference portfolio is intended to reflect diversified performance characteristics across macro cycles,” Midas said in a statement.

According to the announcement, the mF-ONE onchain fund can be used as collateral in a recently launched mF-ONE/USDC market on the decentralized credit platform Morpho. This vault will also be curated by Steakhouse Finance, the crypto-native financial advisory firm closely associated with the Sky ecosystem.

Notably, mF-ONE will use a real-time atomic layer backed by tokenized T-Bills as part of its redemption mechanism alongside a quarterly liquidity framework aligned with traditional fund redemption schedules.

"This hybrid design addresses key concerns in RWA tokenization, including liquidity mismatch, valuation transparency, and redemption risk," Midas said.

Midas has been a pioneer in the real-world assets field. Last October, it became the first firm to receive EU regulatory approval to launch tokenized products — mTBILL and mBASIS — available to non-accredited investors.

Fasanara reportedly holds over 600,000 active credit positions and has yet to record a negative monthly return during its 13-year track record. The firm is based in London and overseen by the UK’s Financial Conduct Authority.

In January, Fasanara launched the tokenized Fasanara MMF Token (FAST) on Polygon.