10% APR from 1-5 day payment-financing cycles needs origination more than another wrapper around bills. Fasanara has been playing this fintech-lending lane for years, including the $1B Allianz Trade B2B eCommerce fund, so Nara is trying to source receivable/prefunding premiums where banks pulled back. Midas is the useful counterweight: mTBILL is short-dated T-bills on Ethereum/Base with 50% target atomic redemption, while NaraUSD+ sits second in the loss waterfall after the insurance fund. Price that as junior PayFi credit with RWA liquidity plumbing, not a magically juiced stablecoin.

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