On June 6, decentralized finance (DeFi) lending platform Defactor Labs said which had tokenized $100 million in Alpha bonds using the ERC-3643 token standard. The bonds, tokenized on the Polygon network (MATIC), will be lent to small and medium-sized businesses using real-world assets, such as accounts receivable, as collateral.
Defactor Labs partnered with the CMS law firm to provide legal guidance and documentation, choosing Luxembourg as the governing jurisdiction for the instrument. For its part, Black Manta Capital Partners provided a brokerage license and a marketplace powered by Tokeny’s ERC-3643 tokenization engine for Alpha Bonds.
We are LIVE! @DefactorLabs CEO and Co-founder of @Defactor_ Alexander Gutierrez (@A_gutierro) officially launches the first ever European Institutional #DeFi investment product, Alpha, live on stage at @money2020!
We were chosen as one of the top ten finalists out of… pic.twitter.com/mPDpbEQFXr
— Defactor Labs (@DefactorLabs) June 6, 2023
We are starting! @DefactorLabs CEO and @Defactor_ Co-Founder Alejandro Gutierrez (@A_gutierro) officially launches Europe’s first #DeFi institutional investment product, Alpha, live on stage at @money2020!
We were chosen as one of the ten finalists of…
Invented in 2021 by Joachim Lebrun, Tony Malghem, Kevin Thizy, Luc Falempin, and Adam Boudjemaa, ERC-3643 sets a standard for identity registration, storage, and token enforcement on regulated exchanges. According to Tokeny, more than $28 billion worth of instruments have been tokenized using the ERC-3643 standard in more than 180 jurisdictions.
The developers at Defactor Labs claim that more than $30 million worth of Alpha bonds have been transacted during their pilot tests, of which $2 million has gone to project funding. Alejandro Gutiérrez, CEO and co-founder of Defactor Labs, commented:
“By leveraging the ERC3643 standard to tokenize $100 million worth of bonds, Defactor Labs aims to not only enable institutional investors to access DeFi in a compliant manner, but also provide them with liquidity options on an open network.”
Cointelegraph previously reported on Feb. 21 that Defactor Labs’ native token, FACTR, up 550% shortly after Chinese telecommunications conglomerate Huawei showcased the project on its social channels. In a 30-second video, Gutierrez said the project tries to bridge the gap between traditional finance and DeFi, exploring the tokenization of real-world assets and building partnerships with startups and large corporations. Defactor is currently part of the Huawei International Scale-Up Program in Ireland.
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