Credbull’s first licensed on-chain private credit fund will be tokenized on Centrifuge, and distributed via the Plume ecosystem – which will provide $10M in liquidity to the fund.
In a pivotal advance for the evolution of the real-world asset industry, recently reported to have reached $8b in TVL by Messari, the trio will offer high-quality and differentiated RWA access to institutional asset managers, crypto platforms, and DAO treasuries, leading the movement towards the maturity of DeFi markets.
With DeFi Llama illustrating exponential growth for the RWA market in 2023 – rising from $763 million to $5.5 billion – the partnership is set to further propel the momentum already galvanized by the likes of BlackRock during Q1.
In offering a 12-month 10% fixed yield on USDC and USDT, coupled with a 30% upside of fund performance, the on-chain solution will serve a wider pool of investors in comparison to traditional private credit funds that tend to reserve exclusivity to institutions and high-net-worth individuals in an opaque ecosystem. Credbull’s fully decentralized on-chain structure will instead provide investors with real-time transparency of strategy, risk management, off-chain capital allocation, and fund performance.
Jason Dehni, co-founder & CEO of Credbull, said:
“We’re incredibly excited to collaborate with Plume and Centrifuge to realize our collective vision of advancing the evolution of real-world assets. By providing investors with a broader set of non-correlated and diversified DeFi solutions, this collaboration will drive greater access to private credit high fixed yield products, real-time transparency, and broader market liquidity. In uniting in common values, we aim to create exceptionally high-quality standards for the RWA space in Web3, simultaneously attracting new on-chain capital.”
Credbull’s recent introduction of the industry’s first licensed on-chain private credit fund, an institutional-grade product with clear investor protections and top-quality infrastructure, quickly caught the attention of Plume Network. Having this year announced a road map to foster expansion in RWA by integrating over 45 of the industry’s leading projects on its L2 network, Plume will allocate $10M to Credbull’s private fund. Formed predominantly from Web2 capital, this will aim to address ever-present concerns over fragmented liquidity.
“Plume was purpose-built to support institutional adoption of the real-world asset industry. We’re focused on creating a seamless onboarding process for users to onramp into the ecosystem and boost liquidity for all RWAs. Centrifuge streamlines the process of launching on-chain funds and Credbull brings a high-quality, high-demand new asset class to the ecosystem,” said Chris Yin, CEO of Plume Network.
Centrifuge, an on-chain fund management platform that facilitates pools of tokenized real-world assets, will tokenize Credbull’s fund – providing impunity against the traditionally obfuscated nature of private credit investment.
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