Lend the same dollar more times a year.
Your ceiling is not demand: it is your balance sheet. We finance the book you already placed and return your capital today.
We evaluate portfolios from the loan-level detail up.
- Reference overcollateralization
- 1.3x
- Of collections stay yours
- 100%
- Distribution to investors
- Monthly
The problem
The ceiling is not demand. It is the balance sheet.
Every dollar placed stays frozen until the loan finishes paying itself off.
- Today1 placement01
The capital only comes back when the book matures.
- With DOB3 placements010203
Finance the book you placed and lend the same capital again.
Illustrative. How many turns you get depends on your book's term and the amount financed.
The process
From a frozen book to available capital.
We do not buy your loans. We finance against the book.
- 01
Show us the book
Loan by loan: balance, rate, term, arrears and collateral.
- 02
We assess the originator
We look at your arrears by vintage, not at each borrower.
- 03
We structure and tokenize
The book is pledged, the token is issued, and investors come in.
- 04
You collect, we distribute
You keep servicing. The monthly distribution comes out of that collection.
Auto lending against a pledge, equipment leasing, factoring, and mortgage-backed credit.
The structure
Who touches what.
We finance against the book. Nobody buys your loans.
Your operation
Unchanged- Your borrowersThey never find out
Same contract, same installment, same lender. Nobody is notified.
- YouOriginate and service
You keep origination, servicing and the spread.
The financing
Comes in from outside- InvestorsProvide the capital
They join the raise in USDC and get paid monthly out of what you collect.
Nothing crosses the line but those two things. Your loans are not assigned and your contract with the customer is untouched.
The protection
Why an investor backs your book.
You commit more book than capital, and you absorb arrears first.
- 1
Your spread
The gap between what you charge and what you pay is the first tranche to go.
- 2
The overcollateral
The excess book absorbs arrears beyond that tranche.
- 3
The investor
Only reached if arrears ate through both tranches above.
1.3x is a reference. The final overcollateral is set during structuring, based on your book's historical arrears.
Before we talk
What we need to see.
Meet these four and the assessment is a matter of days.
- Perfected real collateral
- Pledge, mortgage or lease properly constituted.
- Origination track record
- Enough history for closed vintages to exist.
- Arrears by vintage
- The aggregate hides recent deterioration.
- Formal company in good standing
- Financial statements and tax standing in order.
Questions
What originators usually ask.
No. The book is pledged, not assigned. Nobody notifies your clients, you keep servicing the loans, and the original credit agreement is not modified.
Overcollateralization and your first-loss tranche absorb the deviation before the investor does. If delinquency breaches the agreed thresholds, the covenants defined at structuring are triggered, typically substitution of collateral or accelerated amortization.
The raise and the distributions are in USDC. If your book is in local currency, FX hedging is defined during structuring and forms part of the total cost of the financing.
Not on the first financing. The structure starts out amortizing: the pool pays down alongside your borrowers. Revolving structures, where you replace repaid loans with new origination, require eligibility criteria and continuous reporting, and are the next step once there is a track record on the platform.
The loan-level detail of the book, delinquency history by vintage, the company's financial statements, and the documentation evidencing how the collateral is constituted.
It depends on the size of the book you commit, the overcollateralization agreed, and the outcome of the evaluation. It is a conversation with numbers on the table, not a published table.
Next step
Your book is already an asset.
Now make it work twice.
A first technical conversation about your portfolio, no commitment.