Credix Finance has announced the launch of a new private credit lending pool on the layer 1 blockchain Solana. The pool is designed to provide near 11% annual yield to lenders investing in insurance-protected private credit to Colombian farmers backed by receivables. According to Credix, the pool could swell to $150 million over the next months due to capital demand in the country.
The tokenization of real-world assets (RWAs) is becoming increasingly intertwined with both decentralized finance (DeFi) and traditional finance, with the potential to disrupt finance by making capital markets more efficient, transparent, and accessible. This has led to a surge in digital asset investor demand for RWAs to capture rising yields in traditional lending markets.
The new pool is backed by Colombia-based fintech firm Clave and its affiliate Liquitech, who underwrite and originate the loans in Colombian pesos via a bankruptcy-remote trust and pledge the receivables as collateral. The underlying private note is settled through the Credix platform in USDC stablecoin, and is insured by CESCE Colombia, a subsidiary of Spanish Export Credit Agency.
This groundbreaking initiative not only brings a unique offering to the market but also holds power to make a significant social and economic impact by providing crucial financial support to farmers in Colombia, said Thomas Bohner, chief executive of Credix.
Accredited investors can deposit USDC stablecoin in the pool and expect an 11% annualized yield (APY). This is significantly higher than the 2.6% APY available for lenders on DeFi protocol Aave, according to DefiLlama. The first investors of the pool include Solana Foundation and digital asset market maker Keyrock.
The size of the blockchain private credit market currently stands at $557 million, according to RWA data service RWA.xyz.