Archblock, the core team behind leading DeFi credit protocol TrueFi that just recently issued the first default notice on a $3.4M BUSD loan, announces the onboarding of END-Labs as a portfolio manager on the protocol.
END-Labs connects fiat-native borrowers and institutional DeFi capital, producing greater capital efficiencies. According to END-Labs, Web3 is an Internet evolution, and the credit industry will inevitably adopt Web3 rails, resulting in more access to finance for lower cost capital globally.
END-Labs is building a new financial infrastructure for Web3 by offering DeFi services to lenders, borrowers, and those who support them. END-Labs is comprised of software engineers who are deeply involved in the crypto space as well as traditional finance team members who have more than 40 years of combined experience in originating, structuring, underwriting, and servicing structured financial loans and securitized bonds for credit funds.
This partnership opens access to real-world assets for DeFi investors and lenders, and alternative sources of funding capital for fiat-native fintech asset originators.
Ryan Christensen, CEO of Archblock, said:
“The team has proven its expertise in creating innovative financial products at the intersection of DeFi and real-world lending, and we see GigPool as a unique and valuable offering we’re glad to see offered to TrueFi’s community of lenders.”
Despite market conditions, borrower demand remains high and continues to outpace available capital. TrueFi’s Capital Markets allows nearly any portfolio manager to launch financial products on TrueFi with global reach from day one.
By using its infrastructure, END-Labs gains access to a vast pool of borrowers and lenders, as well as Archblock’s suite of services to help institutions adapt to and participate in DeFi.
“We look forward to the launching of this, the first of numerous expected pools on the TrueFi platform,” states END Capital Managing Director, Edward Wu. “Both END-Labs and Archblock are like-minded with regard to the future of real world asset financing utilizing DeFi protocols and we’re excited to continue that development together.”
While lending has emerged as one of the most lucrative DeFi applications for both retail and institutional clients, decentralized lending protocols still largely rely on over-collateralization to avoid risks, which makes the service capital-inefficient.
TrueFi comes in to fix that, making DeFi actually institutional grade, having already reached more than $1.7 billion in unsecured loans and has successfully collected approximately $1.5 billion in repayments across 136 loans, generating $34.34 million in interest for lenders.