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Switzerland's licensed crypto-first bank SEBA is partnering with Corda-based Digital Asset Shared Ledger (DASL) to let the bank offer asset securitization services on Corda's public network. It will complement SEBA's Custody, Asset Management and Trading product. SEBA will create a wallet for onboarded custody customers, issue digital securities and distribute them to wealth management and other investor networks.

Through a partnership with Securitize Capital, investors can gain tokenized exposure to investment firm KKR's latest health care focused growth equity fund, with lower investment minimums and greater potential for liquidity. It marks the first time exposure to one of KKR's alternative investment strategies has been offered in a digital format in the United States. The fund is tokenized on the eco-friendly Avalanche public blockchain-based smart contract platform.

A new blockchain startup called Securitize has been recently approved as a transfer agent by the U. S. Securities and Exchange Commission (SEC). This means that the company will now be able to act as an official keeper for records involving ownership changes in securities.

Vanguard completed the first phase of a blockchain pilot to issue digital asset-backed securities (ABS). This pilot was done in collaboration with blockchain startup Symbiont, BNY Mellon, Citi, and State Street. Vanguard's end goal for the pilot is to improve the process of securitization with blockchain.

FAT Brands, the parent company of franchises such as Fatburger, Bonanza Steakhouse and Ponderosa Steakhouse, in cooperation with digital securitization platform Cadence, is tokenizing a bond offering on the ethereum blockchain

"Take out a $2,000 zero-interest, 39-month installment loan from Affirm to buy a Peloton bike this Christmas and it is likely that Cross River is actually making the loan. Cross River holds onto such loans for a few days, then typically transfers them to the fintech, which will sell the debt to hedge funds and bond buyers, or securitize it into bundles of thousands of such loans. "

Germany's Bankhaus von der Heydt (BVDH) has issued a Euro stablecoin (EURB) on the Stellar network with the collaboration of Bitbond, a German tokenisation and digital asset custody technology provider. With the go-live on Stellar, Bitbond also integrates the stable coin into the securitization platform developed for BVDH, including the automatic mining and burning of tokens. The Federal Financial Supervisory Authority (BaFin) has already provided their approval for Bitbond to issue tokenized bonds on Stellar.

Regulatory guidance and oversight are topics that regularly intrude in the stablecoin market and are sure to shape the future of the ecosystem. Last week, the European Council voted in favor of the EU's Markets in Crypto Assets (MiCA) legislation, set to come into force in 2024, to provide greater transparency and accountability to individuals and businesses operating in the crypto industry with stablecoins given special treatment. In particular, the new rules forbid the collection of interest by investors on stablecoins, which could provide motivation for securitization of tokenized retail money-market funds or commercial bank deposits, which do not fall under MiCA and are free to pay interest.

The £259m Lendinvest securitisation is backed by buy-to-let loans. It's worth briefly going into its model, because it illustrates the basic point of fintech: it's not so much about new things, as the absence of old things, plus securitisation.

Vanguard, in partnership with technology provider Symbiont, announced today the completion of the first phase of a blockchain pilot designed to digitize the issuance of asset-backed securities (ABS). In close collaboration with a large US ABS issuer, as well as BNY Mellon, Citi, and State Street, Vanguard successfully modeled the full lifecycle of an ABS settlement on distributed ledger technology (DLT) network by replicating end-to-end transaction flows.

China Zhe­shang Bank, a national commercial bank, used blockchain technology to issue worth about $17 billion of asset-backed commercial paper. It was issued as a part of the Na­tional As­so­ci­a­tion of Fi­nan­cial Mar­ket In­sti­tu­tional In­vestors's (NAFMII) pilot project for ABCPs.

This BIS paper considers the emerging asset-backed security (ABS) market in China and its rapid adoption of blockchain technology. It finds that adopting blockchain has improved the efficiency and transparency of ABS trading in China. In particular, the cost of ABS issuance has fallen by around 25 basis points. This benefit is larger for ABS based on less standardised and more opaque assets, such as consumer loans or accounts receivable, than for residential mortgage-backed securities. Finally, the paper presents evidence that market participants appreciate the benefit of using blockchain for certain types of ABS deal when key players in the deals are familiar with each other.