Untangled Finance, a tokenized real-world asset (RWA) platform backed by Fasanara Capital, opened its first private credit pool on the Celo (CELO) network on Thursday with French fintech lender Karmen.
The pool, structured under Luxembourg's securitization regulations with a debt ceiling of $6 million at the start, lets accredited investors deposit the USDC stablecoin and will provide capital to Karmen, which specializes in providing instantaneous loans and working capital to small and medium-sized digital enterprises in France, according to a press release.
Institutional asset manager Fasanara Capital and The Credit Collective, a Celo community-led ecosystem development organization, were early investors in the facility.
The new pool is part of a potential broader senior facility agreement worth 100 million euros ($107 million) with Karmen, which has not yet been finalized, Untangled said.
Private credit has been at the forefront of the cryptocurrency industry's asset-tokenization trend, which brings conventional assets like bonds, credit and funds to the blockchain for increased efficiency and transparency, faster settlements and broader access.
The on-chain private-credit market stands at over $600 million, according to rwa.xyz data. That's small change for the global private credit industry, which the IMF estimates at just over $2 trillion, according the Financial Times. The newspaper's own research came up with an even larger figure.
"By bringing fintech lending on-chain with an innovative credit assessment models, Untangled showcases the potential of tokenized real-world assets to improve access to funding and risk management for entrepreneurs and businesses worldwide," Isha Varshney, head of ecosystem at network development organization Celo Foundation, said in a statement.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
There is no comment, immediately to comment!