Midas has launched its mGLOBAL token on Aave Horizon, allowing qualified institutional users to borrow USDC against tokenized alternative debt.

The integration lets holders deposit mGLOBAL as collateral while maintaining full exposure to the underlying investment strategy.

mGLOBAL tracks Fasanara Capital’s Global Diversified Alternative Debt strategy, a short duration private credit portfolio focused on assets including trade receivables and digital invoices.

Fasanara manages about $6 billion for institutional clients, including pension funds and insurers across Europe and North America.

mGLOBAL is structured as a security token rather than a stablecoin or traditional yield vault.

The token is issued through a dedicated bankruptcy remote compartment of a Luxembourg securitization vehicle. Its net asset value is calculated monthly by independent administrator JTC Luxembourg.

Aave Horizon is a permissioned lending market built for institutions using tokenized real world assets.

Qualified users can deposit approved tokenized assets as collateral and borrow stablecoins including USDC, RLUSD and GHO without selling or redeeming their original holdings.

Stablecoin deposits remain open, while access to the tokenized collateral is controlled by each asset issuer through its own eligibility and compliance requirements.

Midas said mGLOBAL redemptions will use its Open Liquidity Architecture, which is designed to provide immediate liquidity without keeping large amounts of the underlying portfolio in cash.

The system combines a 10% internal liquidity allocation deposited in Aave, a committed credit facility, institutional trading partners and standard monthly redemptions based on net asset value.

When a holder redeems, the liquidity facility provides the payment immediately and the mGLOBAL tokens are burned. The facility is then repaid as the underlying private credit assets settle.

Midas has issued more than $2 billion in tokenized assets and distributed about $43 million in yield since its launch.

The company also offers tokenized strategies including mBTC, mXRP and mTBILL.

Midas raised $50 million in a Series A financing round in March to expand its tokenized investment products and liquidity infrastructure.