Midas & Wellington launch tokenised credit strategy
RWA Signal Insight
Private CreditMidas has partnered with Wellington Management to launch mWIN, a tokenized institutional credit strategy issued on Ethereum. This product represents a shift from simple single-asset tokenization toward actively managed, multi-sector fixed-income portfolios. The underlying assets include collateralized loan obligations, mortgage-backed securities, and investment-grade corporate bonds, all held within a Luxembourg securitization vehicle. Northern Trust serves as the custodian, while Sentora enables the token to be used as collateral within a dedicated Morpho lending market. By integrating with DeFi protocols, mWIN allows investors to borrow against their holdings using PayPal’s PYUSD stablecoin. The strategy utilizes an Open Liquidity Architecture to facilitate redemptions, addressing institutional concerns regarding liquidity and operational complexity. This launch marks a significant milestone as it brings a large-scale, diversified credit strategy to blockchain rails, signaling the maturation of onchain capital markets.
Key points
- Midas and Wellington Management launched mWIN, an actively managed tokenized credit strategy on Ethereum.
- The portfolio includes CLOs, mortgage-backed securities, and corporate bonds managed by Wellington Management.
- mWIN tokens are usable as collateral on the Morpho lending protocol using PYUSD.
- Redemptions are managed via an Open Liquidity Architecture to ensure institutional-grade exit capabilities.
Background
Wellington Management is a global investment firm with over $1.3 trillion in assets under management, specializing in fixed income, equities, and alternative strategies. Midas is a digital asset infrastructure provider founded in 2024 that focuses on bringing institutional-grade financial products onchain through securitized, transparent blockchain frameworks.