Tradable Singapore Fintech SSL pc0000077

Tradable Singapore Fintech SSL (PC0000077) is a permissioned tokenized private-credit investment associated with Tradable’s Singapore Fintech Senior Secured Loan. The underlying borrower is described as a Singapore-headquartered fintech whose digital-credit platform finances e-commerce purchases, bill payments, and personal loans, including buy-now-pay-later products.

The security represents exposure to a senior secured, delayed-draw loan rather than a general-purpose cryptocurrency. Security Token Market classifies it as fixed income and private credit, with Tradable as both the issuance platform and the intended secondary marketplace. The listing describes a $100 million fundraise, a $1 million minimum investment, and a closed raise.

PC0000077 is represented on zkSync Era at 0x18012CB9e1478EF458C8c996F99b8DcEcA60795c. Tradable’s product documentation says each listed deal creates an ERC-20 deal contract, with compliance controls that restrict transfers to eligible investor types. CoinGecko categorizes the asset under Real World Assets, the zkSync ecosystem, and the Tradable ecosystem.

The financing addresses the capital needs of a fast-growing fintech lending platform. The borrower originates short-duration consumer and e-commerce credit, while the originator provides a long-term credit commitment so the borrower can fund its BNPL products and related loans. The structure is intended to provide institutional financing against a loan portfolio rather than relying solely on unsecured corporate borrowing.

For investors, private credit is traditionally difficult to access, administer, and exit. Tradable’s stated problem is fragmented syndication, compliance, reporting, capital calls, distributions, and limited liquidity. The tokenized structure packages a private-credit position into an on-chain instrument while retaining permissioning, investor eligibility checks, and transfer restrictions.

This is not risk-free or equivalent to a bank deposit: repayment depends on the borrower, collateral performance, guarantees, servicing, and the legal terms of the notes. The public listing is anonymized and does not provide a credit rating; investors should obtain the subscription documents and diligence materials through the permissioned Tradable process.

Tradable’s lifecycle begins when an approved originator lists a deal and an ERC-20 smart contract is created. The originator configures requirements such as country, investor type, and AML-risk thresholds; wallets that do not satisfy those requirements cannot receive or transfer the deal token. Selected anonymized deal metadata can be published to IPFS.

An investor submits an allocation offer, after which the originator may accept, reject, or modify it. Once accepted, the investor finalizes the legal commitment and subscription agreement. Wallet-funded investors pre-fund with USDC; bank-funded investors fund after finalization. After the deal closes and receipt of funds is confirmed, the deal tokens are minted to the investor’s approved address, subject to risk screening such as OFAC checks.

For crypto-native investors, the originator sends USDC to the deal contract and interest is allocated pro rata based on ownership percentage and ownership duration. Principal repayment is also sent through the contract; tokens are burned proportionally as principal is repaid. The listing reports a 14% cash-interest rate for the described deal, a 12.16% target net return, a six-year term, drawdown capital calls, and a June 30, 2026 maturity date; these are offering terms, not guaranteed returns.

Early redemption may be available only with originator approval and sufficient USDC liquidity. Tradable documentation describes a future secondary-market capability and says deal-token transfers are preconfigured for permissioned investors, but it labels the secondary market “coming soon.” The public PC0000077 page identifies Tradable as the secondary marketplace and says the raise is closed, so liquidity should not be assumed.