Tokenization Firm Midas Launches Blockchain-Based Private Credit Product with Institutional Backing

Midas, a protocol specializing in yield-bearing tokens backed by U.S. Treasuries and other assets, has rolled out a blockchain-native private credit product in collaboration with institutional asset manager Fasanara and crypto-focused firms Morpho and Steakhouse. The new offering, mF-ONE, is structured to mirror Fasanara's F-ONE fund, which invests across fintech receivables, SME lending, real estate credit, and delta-neutral digital strategies.

Qualified investors can collateralize mF-ONE in a Morpho Market paired with USDC, borrowing liquidity from Steakhouse-curated vaults. This mechanism enables capital efficiency while maintaining exposure to credit strategies. The launch follows Midas' February introduction of Liquid Yield Tokens (LYT) tied to actively managed DeFi funds.

DeFi heavyweights and institutions including Stake Capital, GSR, and Hardcore Labs are supporting the initiative—a sign of growing convergence between traditional finance and blockchain-native solutions.