Apollo Crypto to manage tokenized mEVUSD targeting returns on stablecoins

Apollo Crypto is launching management of mEVUSD, a regulatory-compliant, USDC-denominated tokenized strategy developed with Everstake and Midas, designed to generate yield on stablecoin balances by minimizing directional market exposure.

The strategy focuses on earning returns from financing and interest rate spreads through diversified lending and market-neutral basis trading across established decentralized protocols like Aave, Morpho, and Pendle. Apollo Crypto will serve as the risk curator, aiming to provide institutional clients in the EU and select jurisdictions with annual returns between 7% and 12% while adhering to security and regulatory standards.

This launch addresses a perceived "yield gap" where traditional instruments do not satisfy institutional demand for higher onchain returns. The product will be unavailable in the U.S., UK, China, Australia, and sanctioned jurisdictions.

(Source：The Block)