Midas’s mGLOBAL is launching on Aave Horizon, the institutional real-world asset market of the largest onchain lending protocol.
mGLOBAL is a security token issued by Midas that tracks Fasanara Capital's Global Diversified Alternative Debt strategy, a short-duration private credit portfolio focused on assets such as trade receivables and digital invoices. Fasanara Capital manages about $6 billion for institutional clients, including pension funds and insurers across Europe and North America.
The move comes amid a wave of growing interest in institutional tokenized products. The total tokenized credit sector is worth about $6 billion, according to RWA.xyz, and is beginning to attract major players, including Janus Henderson.
Over its lifetime, Aave has originated more than $1 trillion in cumulative loans. However, Aave, while still Ethereum’s largest decentralized lending protocol, has seen a significant drop in lending activity — from over $10 billion in outstanding debt to $7.17 billion — since the KelpDAO attack, according to The Block’s data. That said, Aave was not attacked directly, though the attackers deposited the stolen rsETH tokens on lending protocols, including Aave, as collateral to borrow ETH.
