BSFG-EM-1, issued by the PACT Protocol smart contracts under the governance of PACT DAO tokenholders, is a tokenized private credit position representing a fractional interest in an emerging market credit facility structured as a programmable onchain debt instrument [S1][S2].

The token tracks the Berkeley Square Emerging Markets Portfolio 1, a credit fund providing exposure to emerging market microcredit lending. PACT operates onchain origination, servicing, and repayments, with credit operations settled in stablecoins [S1]. Holders receive economic exposure to the underlying credit facility through this stablecoin-settled lending infrastructure, which supports high-frequency microcredit across emerging markets [S1].

PACT presents itself as the PACT Foundation, a community-governed protocol whose direction is determined by tokenholders rather than a single named corporate entity [S1][S2]. Membership in the PACT DAO is open to anyone who holds and stakes the native $PACT governance asset, which grants rights to propose, vote on, and implement protocol upgrades [S2]. The protocol evolved from the former ImpactMarket project into onchain microcredit infrastructure focused on emerging markets, providing financial support to entrepreneurs and community investment through decentralized technology [S1][S3].

The associated $PACT governance asset was originally issued on the Celo network and has since been made available on the Aptos network through a one-way bridge accessed via the issuer's official bridge application; once migrated from Celo to Aptos, holdings cannot be returned [S4]. The supported networks named on the issuer domain are Celo and Aptos [S4].

<Sources
  retrievedAt="2026-06-21"
  items={[
    { id: "S1", url: "https://forum.pact.foundation/t/the-official-pact-foundation-whitepaper-release/23" },
    { id: "S2", url: "https://forum.pact.foundation/" },
    { id: "S3", url: "https://pact.foundation/about_us" },
    { id: "S4", url: "https://forum.pact.foundation/t/pact-is-bridging-to-aptos/31" },
  ]}
/>


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Berkeley Square Emerging Markets Portfolio 1 (BSFG-EM-1) is a tokenized fund share issued by PACT.

Berkeley Square Emerging Markets Portfolio 1BSFG-EM-1