About O2O Capital Partners.

O2O Capital is the infrastructure layer connecting onchain native capital to real world, non-crypto correlated private credit yields delivered through regulated, DeFi composable vaults. It is built for DAO treasuries, vault curators, digital asset treasuries and Earn teams at neobanks and fintechs. Vaults will be open only to eligible non-U.S. institutional investors, each KYC'd. Its vaults will hold assets such as trade receivables, royalties and aircraft leases, originated, underwritten and serviced by private credit lenders. Every depositor will be KYC'd before making a deposit. O2O Research publishes the firm's analysis of onchain vaults, stablecoin treasury yield and niche private credit.

Why O2O

O2O stands for onchain to offchain (on-chain to off-chain): onchain capital to offchain yield.

The name describes the route capital will take: stablecoins held onchain will go into a vault, the vault will place them in short-duration private credit offchain, and the yield will return onchain as NAV accrual on the vault token.

The name has no link to online-to-offline (O2O) commerce.

What O2O Capital does

O2O Capital is the infrastructure layer connecting onchain native capital to real world, non-crypto correlated private credit yields delivered through regulated, DeFi composable vaults.

This page describes a planned fund offering by O2O Capital Partners. It is open only to eligible non-U.S. institutional investors and is not available to U.S. persons. It is not an offer to sell, or a solicitation of an offer to buy, any security; any offer will be made only through the offering documents.

Three vault lines will work like a fund, a fund of funds and a separately managed account: asset class vaults for a single exposure, curated vaults blended to an objective, and personalized vaults built to one allocator's mandate.

How the structure works

  • The regulated vaults will operate through vehicles domiciled in Cayman, Delaware and Luxembourg.
  • An independent administrator will price vault tokens at NAV, and NAV and attestations will be published onchain.
  • The vaults are built on the ERC-7540 and ERC-7575 vault standards, so deposits and redemptions can follow the settlement cycles of the underlying loans.
  • Stablecoins will convert to US dollars through a qualified custodian before a vault buys credit assets.
  • Every depositor will clear KYC/AML checks and be whitelisted before depositing.

Who it serves

  • Onchain allocators: DAO treasuries, vault curators, Earn teams at neobanks and fintechs, digital asset treasuries and stablecoin issuers.
  • Private credit originators: O2O Capital Partners is building origination relationships with private credit lenders, who will originate, underwrite and service the loans the vaults buy.

Open to eligible non-U.S. institutional investors only.

Founders

Portrait of Stephen McConville

Stephen McConville

Co-Founder

Stephen McConville is a co-founder of O2O Capital Partners. He previously worked in Partners Group's Structuring, Private Wealth Distribution and Fund Finance divisions, was Head of Fund Operations at 2Xideas and was Head of Product Structuring at Hedgehog Invest. He is an attorney admitted in New York State.

Portrait of Peter Gaffney

Peter Gaffney

Co-Founder

Peter Gaffney is a co-founder of O2O Capital Partners. He was previously Head of Research at Security Token Advisors, where he advised more than 40 clients on tokenization, and he is the author of Blockchain Explained.

Portrait of Drew Orsinger

Drew Orsinger

Co-Founder

Drew Orsinger is a co-founder of O2O Capital Partners. He was previously Chief Security Officer of SpaceX, CME Group and Honeywell, and he founded Tractiv, an immutable data tracking software company.

O2O Research

O2O Research is the firm's research desk. It publishes the Vault Brief series and reports on onchain vaults, stablecoin treasury yield and niche private credit.

Read the research

Status

As of 15 October 2026, O2O Capital Partners is pre-launch: no vault or vault token is live.

O2O Capital Partners is the asset manager. Its vaults will operate through vehicles domiciled in Cayman, Delaware and Luxembourg, which are separate from the company. Investing in a vault and investing in O2O Capital Partners are separate, and this site offers securities of neither.

Official channels

O2O Capital Partners will never ask you to send stablecoins or other funds through social media or direct messages, and no O2O vault or vault token is live. Treat any such request as fraud and report it through the contact form.

Last updated .