Notice. Advisory services only. Not a broker-dealer, transfer agent, or custodian. Any offering would occur under applicable exemptions and only via definitive documents. Content is informational and may change without notice.
Receivables Tokenization — Trade Finance Digital Securities
What We Deliver
We structure and place programs that convert eligible trade receivables into digital securities funded by professional investors. Workstreams include issuer architecture, true-sale or risk-participation selection, documentation, investor targeting, and post-closing servicing oversight with optional on-chain settlement and reporting.
Use Cases
- Importer and distributor payables relief with accelerated cash cycles
- Platform and marketplace forward-flow programs
- Cross-border factoring with whitelist KYC and currency rails
- Warehouse financing with receivables take-out
Program Parameters
- Size: 5,000,000 – 50,000,000 USD initial program, expandable
- Geographies: Europe, MENA, GCC, West/East Africa, LATAM, South Asia
- Obligor focus: repeat B2B buyers with verifiable payment history
- Settlement: fiat rails; optional on-chain record with whitelisted wallets
Structure and Mechanics
Issuer Setup
- SPV or trust with paying agent and registrar
- True-sale securitization or risk-participation via funded subordination
- Series/compartment notes to ring-fence asset pools
- Custody for cash and documents; oracles for data feeds
Token & Compliance Layer
- Digital notes recorded on permissioned or public chain with whitelist
- Transfer restrictions, KYC/AML, and sanctions screening on entry
- Automated coupon and principal schedules with paying-agent hooks
- On-chain proof of ownership mirrored to off-chain registries
Eligibility and Required Materials
Asset Eligibility
- B2B receivables with clear invoices and dispute rules
- Concentration caps by obligor, sector, and jurisdiction
- Maximum tenor typically ≤180 days; aging limits enforced
- Historical dilution and dispute rates within agreed bands
Issuer Pack
- Eligibility tape (CSV), aging buckets, and cash collections history
- Contracts, master purchase agreements, and assignment mechanics
- KYC/AML for seller and key obligors; sanctions screening
- Servicing plan, backup servicer, and reporting cadence
A data room index and issues list are provided at intake. Execution begins when the core pack is complete.
Risk Controls and Reporting
Controls
- Eligibility tests, concentration limits, and amortizing advance rates
- Reserve accounts for dilution and charge-offs
- True-sale opinions where applicable; perfected assignments
- Buyer confirmations and dispute management workflows
Transparency
- Periodic pool tapes and covenant compliance snapshots
- On-chain proofs of collateral status and payment events
- Audit trails across servicing actions and exception reports
- Independent trustee or verification agent
Sample Term Sheet (Illustrative)
| Issuer | Receivables SPV (series-based) with paying agent and registrar |
|---|---|
| Asset | Eligible trade receivables originated by the Seller; true-sale assignment or risk-participation |
| Program Size | Up to 50,000,000 USD initial; accordion subject to performance and limits |
| Advance Rate | Up to 85% of eligible receivables, net of reserves and haircuts |
| Tenor | Revolving up to 24 months; individual receivable ≤180 days |
| Notes | Digitally recorded senior notes; optional junior/subordinated tranche for credit enhancement |
| Coupon | SOFR or EURIBOR + margin by risk band; paid monthly |
| Reserves | Dilution reserve, charge-off reserve, and servicer fee reserve |
| Covenants | Concentration caps, max delinquency, min collections, reporting cadence, early-amortization triggers |
| Servicing | Seller as servicer with backup servicer named; account control agreements in place |
| Compliance | Whitelisted investors, KYC/AML, transfer restrictions; securities laws exemptions as applicable |
| Governing Law | England & Wales or New York, as agreed; UCC assignment where relevant |
Indicative only. Final terms are set in definitive documents after underwriting and counterparty approvals.
Open Client Intake
Request a quote or book a consultation. We set the structure, coordinate investors, and drive execution to first closing.
Open Client IntakeFAQs
Is this a securitization or a token sale?
It is a financing program. Notes represent interests in receivables pools and observe transfer restrictions and investor KYC.
Do investors fund in fiat or crypto?
Funding occurs in fiat. On-chain records provide transparency; cash moves through controlled accounts.
What trips early amortization?
Breaches of delinquency caps, collection shortfalls, or covenant failures. Triggers are calibrated to pool quality.
How fast can a first closing occur?
Speed depends on data quality, legal readiness, and investor approvals. Clean tapes and clear contracts shorten timelines.
Disclosures. No assurance on pricing, approvals, or timing. All transactions are subject to credit processes, compliance clearance, and execution of definitive documents.
