Who's Building It

Private Credit · Lesson 6.2

Firms in onchain private credit play different roles. Figure originates loans, such as home equity lines of credit, and records them onchain. Maple underwrites loans and lends to institutional borrowers through its own lending pools. Centrifuge provides infrastructure that asset managers and lenders use to tokenize loans and funds and to run their pools onchain. When a borrower stops paying, these roles decide who manages the recovery and who takes the loss.

Wally’s note: the seller isn't always the underwriter

Examples, not a complete list.

Find out who underwrote the loan and who manages it now. That may not be the firm that sold you the token.

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