MVL has completed a loan to its Cambodian electric mobility subsidiary ONiON Mobility through its Musubi platform. The financing came from Kaia Investment Partners' tokenized private credit fund Yield8. This marks the first institutional use of Musubi's mobility asset financing structure.
How the loan works
KIP operates Yield8 to connect Asia private credit assets with on-chain capital. The loan repayment will come from lease payments generated by ONiON Mobility. A USDC payment reserve was placed in a smart contract as credit support.
Company context
MVL launched ride-hailing service TADA in Singapore in 2018. It has expanded across Southeast Asia and the United States. ONiON Mobility provides electric three-wheelers, two-wheelers, and battery swapping services in Cambodia.
What Musubi does
Musubi connects investor capital from developed countries with mobility businesses in emerging markets. It records contracts, assets, and repayment records on a blockchain. The structure is designed to improve transparency and reduce human error.
MVL said it will expand Musubi's financial structure to additional regions and mobility businesses. KIP said it will keep connecting cash-flow-backed Asian real assets with on-chain capital. The company plans to support wider electric mobility adoption in Cambodia.