Under active development. We're continuously fixing and improving the metrics and parameters, so scores and ratings may change. See changelog

RWABeat

FalconX Credit Vault

Senior tranche of the FalconX credit vault on Pareto. USDC is lent to one FalconX borrower wallet, which funds prime-brokerage credit lines. Collateral sits offchain. The junior tranche has no tokens outstanding, so there is no onchain first-loss buffer. This is the vault FalconX announced and that rwa.xyz lists as AA_FalconXUSDC, not Plume's NFALCON or Sygnum's Desygnate. A deprecated Pareto deployment on Optimism is not tracked.

Private creditNon-US professional investors onlyTransfer-restrictedOnchain dataIssued by M11 Credit · Platform Pareto
JSON
Value
$131.5M
Stage
None
Below Stage 0: key facts not disclosed
Single-key powers
7
Single key holds critical power
Oracle age
6d 18h
On schedule
Used as DeFi collateral
$12.5M· 5 markets

Underlying Asset

What backs the token, and how likely is it to lose value?

Red

The largest borrower is 100% of the pool, so one default is a large loss.

  1. The largest borrower is 100% of the pool, so one default is a large loss.

  2. Credit quality and seniority aren't published.

  3. 100% is private credit or other risk assets, so losses depend on borrowers paying back.

  4. No losses passed to holders since 2025.

  • Holdings on 2026-10-14: Credit line to FalconX, collateral held offchain 100%.

What backs the token

Holdings report as of 14 Oct 2026.

HoldingTypeShare
Credit line to FalconX, collateral held offchainSecured loans
100%

Source

Maturity and credit

Weighted average maturity
Not public · searched 25 Oct 2026 Help us find it
Credit quality
Not public · searched 25 Oct 2026 Help us find it
Senior and secured
Not public · searched 25 Oct 2026 · 'Transaction-level collateral' is described, but its size isn't. Help us find it
Largest borrower
100% of the pool
Borrowers
1

Track record

History since
10 Jul 2025
Losses to holders
None found