Economics

Why This Works

Pledged-asset lending transforms how financial institutions serve modern wealth. The economics work because secured lending has fundamentally different risk characteristics than unsecured consumer credit, and because borrowers pledging appreciated assets have behavioral incentives aligned with repayment.

Loss rate on secured lending
<30 bps
Borrower rate advantage
300-600 bps
Lower charge-off rate
13x
LGD improvement
17 pts
The Value Proposition

Better for institutions. Better for members.

Pledged-asset lending creates value for both sides of the transaction. Institutions get secured loans with dramatically lower loss rates than unsecured consumer credit. Members get liquidity without selling appreciated assets, preserving upside exposure and avoiding taxable events. The economics compound: better rates attract better borrowers, better collateral reduces loss severity, lower losses enable better rates.

Default and Liquidation Mechanics

Orderly Resolution Rails

When the worst happens, legal perfection pays off. UCC Article 12's control-based perfection with super-priority means your security interest has clear priority. Our infrastructure provides the rails for orderly liquidation without your institution necessarily taking possession of the asset.

Automated Triggers

Smart contracts monitor collateral value against margin limits in real-time. Breaches trigger automated workflows before situations deteriorate.

Execution Paths

Pre-wired workflows for public securities liquidation via custodian or digital asset liquidation via exchange. Article 12 control enables direct action without borrower cooperation.

Compliance

Automated generation of notices, cure period tracking, and audit trails for the liquidation event. The documentation structure exists because the examiner will ask.

Come see the economics in action