Tradable North America PoS Lender SSTN pc0000019

Tradable North America PoS Lender SSTN is the on-chain representation of the North America PoS Lender Senior Secured Term Notes, a private-credit, fixed-income instrument issued through the Tradable platform. Its market identifier is PC0000019, and the token is available on ZKsync Era. Security Token Market classifies it as a debt instrument in the Financial Services / Private Credit sector.

The underlying business provides point-of-sale, lease-to-own financing for underserved and sub- and near-prime customers. It finances purchases of durable goods such as furniture, mattresses, and appliances, generally in the $300-$5,000 range. The described customer profile has an average FICO score of about 600 and an average lease size of approximately $1,000.

This is not a general-purpose payment or governance coin. It is a tokenized claim associated with a senior secured term-note deal, with the token priced at $1 per PC0000019 in the Security Token Market listing. The offering is presented as a closed $150 million raise, with an 11% target net return and an 11% cash-interest rate shown in the listing; investors should consult the offering documents and platform terms for the legally operative rights and risks.

Traditional private credit and specialty-finance loans are difficult to distribute and transfer. The underlying lender serves customers who may be underserved by conventional credit, while investors face the usual private-market barriers: high minimums, limited liquidity, restricted eligibility, and cumbersome reporting and settlement.

Tradable addresses the market-infrastructure side of that problem by putting an eligible private-credit position on blockchain rails. Its website describes programmatic AML/KYC, accreditation and transfer restrictions, confidential data sharing, capital calls and distributions, ongoing deal reporting, and liquidity through redemptions and/or a secondary market. The token does not remove borrower-credit, servicing, liquidity, regulatory, or loss-of-principal risks.

The underlying financing is a point-of-sale lease-to-own receivables strategy. The company funds consumer purchases and uses a proprietary underwriting process that verifies FICO and collects additional third-party data to evaluate applicants. Leases are described as generally 12 or 24 months and as having a 1.8x-2.6x rent-to-own multiple.

The note is structured as senior secured private-credit debt. Security Token Market lists a $150 million total deal size, $100,000 minimum investment, floating-rate terms, drawdown capital calls, and on-chain prefunding for capital calls. It lists a 1% management fee, no performance or expense fee, and a 1% origination fee.

Tradable issues and supports the tokenized instrument, with ZKsync Era as the listed blockchain and contract 0x1F179A51Ab46252f469733DFcbD9115090A91f03. Tradable says its infrastructure controls investor eligibility and transfer restrictions, maintains confidentiality, connects service-provider reporting, and supports distributions and liquidity. The listing records a $1 token price and identifies Tradable as both token-issuance platform and secondary marketplace.