Plume and FalconX announced the launch of FALX Structured Credit Facility, a structured credit vault that offers onchain access to overcollateralized prime brokerage loans.
The product was deployed on the Plume network in collaboration with OpenTrade and is also available on Ethereum and Solana. This tool is facilitated through Pareto and administered by M11 Credit, which assumes the role of administrative and collateral agent, monitoring the composition of the loan book and aligning performance metrics with FalconX.
Capital is allocated to a SPV managed by FalconX, offering exposure to a diverse portfolio of loans granted to quant funds, hedge funds and institutional asset managers. The interest rate is set each monthly cycle, with capacity to scale up to approximately one billion dollars.
A key feature of the vault is intra-month subscription support through updated smart contracts, which allows capital to begin generating prorated interest from the entry date, without waiting for the monthly close. Teddy Pornprinya, co-founder and CBO of Plume, noted that the goal is to provide institutional strategies through programmable, compliance-ready vaults, expanding the market for RWA strategies with the capacity to generate yield.
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