Private Credit
Data verified 2026-10-27Private credit, receivables and structured debt issued as on-chain shares. Yields are usually above Treasuries, but value depends on borrower credit and the lender underwriting, and delinquency data is often under-disclosed.
365rwa.vip is a Chinese-language verification site for RWA (real-world asset tokenization). It maintains four public databases - issued-project dossiers, a global licensed-institution registry, a regulatory feed and a market tracker - and offers a free authenticity-check tool, five-dimension ratings and a published methodology. No ads, no paid placements, no advertorials.
- Private Credit: 5 rated projects, 6 issuance dossiers and 35 tracked tokens, $26.31B in total size.
- Average yield 8.73%, average score 74/100 (custody 30 / legal 25 / on-chain 20 / liquidity 15 / team 10).
- Size and yield move daily with the market; figures on this page are a snapshot at calculation time. Scores are research opinion, not investment advice.
How big is this class (data verified 2026-10-27)
Representative projects (by size)
Full database →| # | Project | Size | Yield | Score |
|---|---|---|---|---|
| 1 | Figure HELOC (Tokenized Home Equity Lines of Credit) Figure Technologies | $23.97B | — | 82 |
| 2 | Centrifuge Credit Pools Centrifuge | $1.24B | 8.5% | 67 |
| 3 | Maple Credit Maple | $1.00B | 9.2% | 65 |
| 4 | Apollo ACRED (Diversified Private Credit) Apollo × Securitize | $95.3M | 8.5% | 88 |
| 5 | Goldfinch Emerging-Market Credit Goldfinch（Warbler Labs） | $3.8M | — | 68 |
Related issuance dossiers
6 projectsApollo's tokenized feeder into its Diversified Credit Fund, launched with Securitize across six chains (Aptos, Avalanche, Ethereum, Ink, Polygon, Solana) with investment from Coinbase AM and Kraken.
Underlying: Diversified private credit (direct lending / ABF / structured credit)Approval/Regulator: U.S. SEC Reg DPartners: Securitize · Wormhole (six chains at launch)
A private credit marketplace connecting institutional capital with Latin American (mainly Brazilian) fintech lenders, financing receivables and consumer credit portfolios with on-chain dollars.
Underlying: Receivables financing for LatAm fintech lenders
One of the first institutional on-chain credit markets, lending to crypto firms. After a 2022 credit reset it pivoted to the Syrup yield product line, returning to multi-billion TVL.
Underlying: Institutional credit + Treasury yieldSize: $5B+ cumulative loans
An RWA pioneer: in 2021 New Silver drew the first real-world vault financing from MakerDAO via Centrifuge; in 2022 BlockTower launched $200M+ structured credit vaults on the protocol.
Underlying: Real-estate bridge loans / structured credit / TreasuriesSize: BlockTower vaults $220M+Partners: MakerDAO · Aave · Coinbase
A decentralized credit protocol requiring no crypto collateral, channeling on-chain dollars to fintech lenders across Africa, Southeast Asia and Latin America. Backed by a16z and Coinbase Ventures.
Underlying: Credit to emerging-market fintech lendersSize: $100M+ cumulative loans
Figure originates, registers and trades home-equity loans entirely on the Provenance blockchain — the largest traditional-finance credit operation on-chain, with $10B+ originated.
Underlying: Home equity loans / consumer creditSize: $10B+ originated on-chainPartners: Provenance Blockchain
Regulatory points (from the approvals database)
All regulatory updates →Banks participating in the HKMA's Intellectual Property Financing Sandbox have completed credit approvals for the first pilot projects.
Recurring packaging patterns in this class
- States a target yield but discloses nothing about borrower concentration, collateral or delinquency - credit you cannot see is credit you are taking on trust.
- Trades on the "institutional credit" label with no independent custody, audit or workout process.
- Promises a fixed high yield with redemption at any time - credit assets have maturities, and instant redemption implies a pool or an implicit guarantee.
Patterns we see repeatedly during checks. Not an accusation against any specific project.
Copy this line into your report or article for a proper citation.
365rwa.vip, "Private Credit", data verified 2026-10-27, https://365rwa.vip/topics/credit/