According to CoinMeta, the crypto venture capital firm hashed participated in a new digital asset private lending fund initiated by Abu Dhabi investor Mohamed Hamdy and managed by Thoro Capital. The fund aims to break through the financing bottlenecks faced by traditional banks due to capital constraints and the excessive reliance of existing crypto lenders on over-collateralization. It introduces the “contractual underwriting” mechanism that has become widespread in traditional finance since the 2008 crisis. By assessing the true financial situation, cash flow, and operational fundamentals of borrowing institutions, and by setting financial contracts, the fund provides direct loans in US dollars/stablecoins, primarily targeting profitable and audited digital asset infrastructure companies. hashed noted that tokenized private lending has now become the largest category of RWA, with a cumulative lending volume of over $14 billion.