Mansa

Portfolio of Mansa-originated facilities to international payments and remittance companies

Asset Overview

Overcollateralized SPV containing a portfolio of Mansa-originated facilities to international payments and remittance companies predominantly located in SEA, MENA, and LATAM.

Asset Details

Asset Type	Working Capital Loans
Agency Rating	B-/B3
TRA Rating (1-5)	3.3
Contribution to Credit Risk	0.495
Target Weight in nRWA	15%
Est. APY	20%
Scorecard	View scorecard

Asset Flow

1

Issuance

Mansa creates a line of credit on TrueFi.

2

Custody

Coinbase securely manages the custody of assets and tokens.

3

Administration

Cicada Partners is Administrative Agent under the asset-backed lending agreement to ensure compliance and with multi-sig step-in rights in the event of a covenant breach.

4

Loan Origination

Mansa originates loans to payment companies using stablecoin settlment rails.

5

Yield Generation

Borrowers repay loans with interest, generating yield.

6

Token Value Increase

Yield accrues on the underlying asset tokens, leading to an appreciation of the tokens held in the Nest RWA Vault.

About the Issuer

Mansa is a BVI-domiciled working capital financing provider to international payment and remittance businesses located in SEA, MENA, and LATAM.

Sector	Direct Lending
Industry	WC Financing
Website	https://credbull.io/