TL;DR:
- Everstake, Midas, and Apollo Crypto launched mEVUSD, a USDC-denominated tokenized strategy targeting institutional clients in the EU.
- The product aims to deliver annual returns of between 7% and 12% through lending and basis trading operations on DeFi protocols.
- Apollo Crypto will act as risk curator, conducting real-time monitoring of LTV ratios and automatic deleveraging parameters.
Everstake, a non-custodial staking infrastructure provider, announced the launch of mEVUSD alongside Midas, an onchain investment products platform, and Apollo Crypto, a firm specializing in digital asset management. The product is a USDC-denominated tokenized strategy, designed to deliver returns above those of traditional money market funds and aimed exclusively at institutional clients in the European Union and selected jurisdictions.
The design of mEVUSD aims to transform idle stablecoin balances into productive positions without directional market exposure. Returns are generated from funding differentials and interest rates, not from cryptocurrency price movements. The strategy operates on blue-chip protocols such as Aave, Morpho, and Pendle, combining overcollateralized lending with market-neutral basis trading operations.
The product’s architecture is structured across three layers. Everstake contributes a proprietary SDK, integrated with Midas’ audited smart contracts, which allows wallets and custodians to access the tokenized strategies through a simple API. Midas provides the regulatory environment and the issuance platform, ensuring full transparency and instant redemptions. Apollo Crypto operates as risk curator, monitoring loan-to-value ratios in real time and executing automatic deleveraging mechanisms in volatility scenarios.
Everstake: Passive Yield Is No Longer Enough
David Kinitsky, Chief Corporate Development Officer of Everstake, noted in the press release that “passive yield is no longer sufficient” for institutional treasury teams, which seek controlled and regulated frameworks to optimize their returns. The product aims to generate between 7% and 12% annually, although indicative results are subject to market conditions.
Henrik Andersson, of Apollo Crypto, highlighted that the firm’s role is to “curate the most efficient yield strategies while maintaining a rigorous risk framework“. Dennis Dinkelmeyer, CEO of Midas, described the initiative as a system that “aligns decentralized efficiency with institutional standards“.
According to EY data cited by the firms, 84% of institutions already use or have interest in stablecoins, and 76% plan to invest in tokenized assets before the end of 2026. RWA.xyz estimates that the tokenized Treasuries market reaches $11.09 billion, a market that Everstake seeks to complement with higher risk-adjusted yield strategies. The product excludes clients and entities from the United States, United Kingdom, Canada, China, Australia, and Iran.
