Crypto venture capital firm Hashed has participated in a new $300 million digital asset private credit fund, an initiative led by Abu Dhabi-based investor Mohamed Hamdy and managed by Thoro Capital. This fund aims to overcome the financing challenges faced by traditional banks due to capital constraints and the reliance of existing crypto lenders on excessive collateral. To achieve this, the fund will introduce "covenant-backed underwriting," a mechanism popularized in traditional finance post-2008. This approach involves directly providing USD/stablecoin loans by evaluating borrowing institutions' actual financial health, cash flow, and operational fundamentals, and then establishing financial covenants. The primary target for these loans are profitable and audited digital asset infrastructure firms. Hashed highlighted that tokenized private credit has emerged as the largest Real World Asset (RWA) category, with lending volumes exceeding $14 billion, according to TheBlock.
#crypto #blockchain #news
Blockchain Report
npub1cg…nmysr
2026-09-23 00:14:15 UTC
Author Public Key
npub1cg2ejqexhx88llcve0yxts2exv5q9k0a88l69q0vp7y5n0f2xyfscnmysrPublished at
2026-09-23 00:14:15 UTCEvent JSON
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"content": "Crypto venture capital firm Hashed has participated in a new $300 million digital asset private credit fund, an initiative led by Abu Dhabi-based investor Mohamed Hamdy and managed by Thoro Capital. This fund aims to overcome the financing challenges faced by traditional banks due to capital constraints and the reliance of existing crypto lenders on excessive collateral. To achieve this, the fund will introduce \"covenant-backed underwriting,\" a mechanism popularized in traditional finance post-2008. This approach involves directly providing USD/stablecoin loans by evaluating borrowing institutions' actual financial health, cash flow, and operational fundamentals, and then establishing financial covenants. The primary target for these loans are profitable and audited digital asset infrastructure firms. Hashed highlighted that tokenized private credit has emerged as the largest Real World Asset (RWA) category, with lending volumes exceeding $14 billion, according to TheBlock.\n\n#crypto #blockchain #news ",
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