🚀 Tokenized Private-Credit Platform Untangled Opens Its First $USDC Lending Pool on Celo

Untangled Finance, a tokenized real-world asset (RWA) platform backed by Fasanara Capital, launched its first private loan pool on the Celo (CELO) network on Thursday with French fintech lender Karmen.

The pool, structured in accordance with Luxembourg securitization rules with a debt ceiling of $6 million at launch, allows accredited investors to deposit USDC stablecoin and will provide capital to Karmen, which specializes in providing instant loans and working capital to small and medium-sized digital enterprises in France, according to a press release.

The new pool is part of a potentially broader €100 million ($107 million) senior loan deal with Karmen that has not yet been finalized, Untangled reports.

Private lending is at the forefront of the asset tokenization trend in the cryptocurrency industry, which brings conventional assets such as bonds, loans, and funds to the blockchain for increased efficiency and transparency, faster settlement, and wider access.

"By bringing fintech lending on-chain with an innovative credit assessment models, Untangled showcases the potential of tokenized real-world assets to improve access to funding and risk management for entrepreneurs and businesses worldwide," Isha Varshney, head of ecosystem at network development organization Celo Foundation, said in a statement.

Some great news for $USDC supporters. Cryptocurrency exchange WhiteBIT has announced the launch of the Bridged USDC on the Whitechain network. And the best part of this is the free withdrawal of this USDC via the Whitechain network.