Summary
Italian startup BlockInvest is aiming to address the distressed loan market by tokenizing non-performing loans (NPLs) through two partnerships. The first project involves a proof-of-concept developed with 130 Servicing, offering on-chain digital note issuance for asset-backed securities. The second project will tokenize distressed real estate credits acquired by Italian firm Davis & Morgan. Both projects are being built on the Polygon network. The tokenization of real-world assets has been growing in popularity in the decentralized finance (DeFi) space. Italy’s NPL market has decreased from €360 billion in 2015 to €63 billion in 2023.
Key Points
1. BlockInvest aims to address the billion-dollar distressed credit market by tokenizing non-performing loans through two projects.
2. The first project involves a proof-of-concept developed with 130 Servicing, a leading securitization firm, to offer on-chain digital note issuance for asset-backed securities.
3. The second project involves tokenizing and fractionalizing distressed real estate credits acquired by Italian firm Davis & Morgan, which has $100M in assets under management.