FalconX Vault on Pareto Crosses $100m in Single-Borrower Onchain Private Credit
Pareto, an onchain private credit infrastructure provider, and FalconX, a $2T+ digital asset prime brokerage, announced that the FalconX Credit Vault on Pareto has surpassed $100 million in total value locked (TVL), highlighting the growing adoption of single-borrower onchain credit vaults.
The milestone comes just few months after Pareto crossed $100 million in TVL across its entire protocol. Today, a single credit vault has reached that scale – reflecting growing institutional adoption of structured, onchain credit markets.
The FalconX Credit Vault provides fixed-rate financing through a legally structured SPV, curated and risk-managed by M11 Credit, and backed by layered protections designed for institutional lenders.
Beyond scale, this facility demonstrates how onchain credit can function as market infrastructure, not just a yield product.
Positions in the FalconX Credit Vault are tokenized as AA_FalconXUSDC, which can be used as collateral on Morpho, allowing depositors to borrow $USDC against their credit exposure without exiting the position.
Building on this, Gauntlet has integrated the FalconX Credit Vault into a levered strategy that combines vault exposure with Morpho borrowing, showcasing how institutional credit positions can serve as programmable building blocks for DeFi strategies.
“Reaching $100 million in a single credit vault shows that onchain private credit can operate reliably at institutional scale” said Matteo Pandolfi, Co-Founder and CEO of Pareto. “More importantly, it shows that structured credit can be composable, liquid, and usable across DeFi without compromising institutional standards.”
As institutional participants seek transparent, programmable alternatives to traditional private credit funds, Pareto’s Credit Vault architecture is increasingly being used as a foundation for onchain credit markets – where credit positions can move, integrate, and scale natively on blockchain rails.
About Pareto
Pareto is a private credit marketplace that connects institutional lenders and borrowers, providing scalable, yield-generating opportunities and bridging institutional capital onchain.
Tailored for asset managers, digital asset funds, and other professional investors, Pareto offers seamless access to regulatory-compliant alternative credit products. Its infrastructure emphasizes transparency, automation, and flexibility. Credit Vaults are the core primitive: they eliminate utilization-based inefficiencies, reduce operational overhead, and improve capital efficiency for both lenders and borrowers.
As the financial landscape evolves, Pareto aims to set a new standard for institutional credit with fully automated, data-driven lending solutions.
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About FalconX
FalconX is a leading digital asset prime brokerage for the world’s top institutions. We provide comprehensive access to global digital asset liquidity and a full range of trading services. Our 24/7 dedicated team for account, operational and trading needs enables investors to navigate markets around the clock. FalconX Bravo, Inc., a FalconX affiliate, was the first CFTC-registered swap dealer focused on cryptocurrency derivatives.
About M11 Credit
Founded in 2021, M11 Credit offers various fixed-income opportunities to capital allocators and provides credit solutions to established (crypto-native) companies and DeFi protocols. Leveraging deep industry relationships, we deliver insights into current pricing and collateralization trends through our existing facilities. Our team excels in both off-chain and onchain deal structuring, implementing comprehensive covenants beyond standard industry documentation.
M11 Credit is part of the M11 Group, a global blockchain and crypto-native investment firm including Maven11, M11 Funds and C11 Labs
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