END Capital and Intain Partner for Digital Structured Finance Transactions
18 Jul, 2022, 18:23 ET
Partnership brings together END Capital's experience in structuring tokenized asset-backed deals and IntainMARKETS, digital issuance platform for structured finance with blockchain based administration
LAS VEGAS, July 18, 2022 /PRNewswire/ -- At Structured Finance Association's SFVegas 2022 conference, END Capital and Intain announced a partnership for digital issuance and administration of structured finance transactions, for greater efficiency and transparency in the deals.
The collaboration is intended to lower the overall cost of asset-backed financing for issuers by creating viability and feasibility of smaller size offerings to gain access to the term securitization markets.
END Capital, the Capital Markets team within END-Labs, will function as underwriting agent for the transactions under this partnership. As an underwriting agent, END Capital will work with both investors and borrowers to structure these deals based on the underlying risks of the collateral assets; and will monitor the credit risk of the deals on an on-going basis. END Capital is working with issuers across asset classes helping them raise capital at lower costs, with smaller issuances.
As stated by Edward Wu, Managing Director of END Capital, "We have been working on tokenized structured finance transactions for some time. We realize that trust is missing in a digital or tokenized issuance without on-chain administration. Since Intain combines issuance and administration on-chain, our capabilities as a Web 3 focused capital facilitator and the IntainMARKETS platform together address the key gap."
Intain's servicing and administration platform has achieved wider industry adoption through its partnerships with WSFS Institutional Services and UMB Bank, two of the top ten trustees in U.S. ABS and MBS transactions. More than $5 billion in deals across asset classes are currently administered on IntainADMIN. IntainMARKETS will now combine digital issuance with IntainADMIN ensuring an integrated and seamless lifecycle of a structured asset-backed deal.
"We always believed that the real benefit of blockchain in structured finance lies in the transparency and efficiency it brings. That is why we focused first on administration. In contrast, the tokenization-first approach focused on liquidity, but there is no liquidity without trust and transparency, at least not for the institutions," said Eric Mitzel, head of Intain's U.S. business. "Since many of us at Intain and END-Labs come from institutional finance, we have a common understanding of the blockchain-enabled future of the industry. We are really excited about this partnership and are already working with Issuers to onboard our first set of deals."
Intain is building blockchain-enabled digital platforms for transparency and efficiency in capital market transactions, with an initial focus on structured finance. Founded by financial services business and technology veterans, Intain understands the impact - benefits and risk - of technology in financial services. Intain is committed to diversity in fintech and more than 50% of its employees are women.
Intain is backed by JAM FinTop, Blizzard (Avalanche), the Hamon Group and Blockseed Ventures. As of July 2022, IntainADMIN administers in excess of $5 billion in structured finance transactions.
For more information visit www.intainft.com.
END-Labs ("Early, New, Different") is focused on Web3 lending infrastructure with both in-house software development and capital markets teams. Our capital markets team, END Capital, accesses DeFi sources of capital to connect with fiat-native borrowers, driving greater capital efficiencies. We believe that the credit industry will adopt Web3 rails resulting in increased access to capital and lower cost of capital globally.
END-Labs is backed by Polychain, Coinbase Ventures, Circle Ventures, Blocktower, CRV (Charles River Ventures), and ConsenSys among others. END-Labs' unique combination of software engineering expertise and Tradfi credit expertise enables us to serve as a bridge between Tradfi and DeFi due to an ability to solve problems/challenges in both arenas.
SOURCE Intain Inc
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