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

The token tracks an emerging market credit facility within the Berkeley Square Emerging Markets NPA Portfolio 1, a credit fund position. PACT operates onchain microcredit infrastructure covering origination, servicing, and repayments, with lending settled in stablecoins [S1]. The protocol's native governance asset facilitates ecosystem rewards and management of protocol revenue and treasury [S2].

PACT presents itself as the PACT Foundation, a community-governed protocol whose direction is conducted by tokenholders rather than a single named corporate issuer entity [S1][S2]. The PACT Foundation describes its mission as enabling accessible microfinance through decentralized technology, including a Microcredit program supporting entrepreneurs and community investment [S3]. Membership in the PACT DAO is open to anyone who holds and stakes the governance asset, which gives holders rights to propose, vote on, and implement protocol upgrades [S2]. Voting power is gained by locking and staking the governance asset [S2].

The protocol's native governance asset was originally issued on the Celo network and has been bridged one-way to the Aptos network, accessed via the official bridge application [S4]. Protocol-level credit operations are described as onchain origination, servicing, repayments, and stablecoin settlement [S1]. 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 NPA Portfolio 1 (BSFG-EM-NPA-1) is a tokenized fund share issued by PACT.

Berkeley Square Emerging Markets NPA Portfolio 1BSFG-EM-NPA-1