Babel Finance used collateralized eNote on FQX’s Solana dApp via Fireblocks

“Digitization has been transforming traditional asset classes for over twenty years, with tokenization being the next phase of the evolution,” said Richard Astle, Head of Switzerland and the Middle East at Fireblocks. “Prolonged manual processes, limited secondary market liquidity, and mostly bilateral settlements offer a number of areas in debt markets which can be improved by blockchain and smart contracts.

Through tokenization, investors are able to participate with smaller transaction sizes than traditional debt issuance, making it much more accessible to the broader market. We’re proud to support new innovations like FQX’s eNotes with Fireblocks’ technology so that more traditional assets can benefit from blockchain’s transparency, security, and speed”, Astle added.

This transaction marks the beginning of eNotes on Solana. This will help Babel Finance widen its funding sources. For traditional financial institutions that intend to invest in crypto assets, this innovative fixed-income crypto-financial product is an investment channel with returns and risks. “We are very excited about the launch of this innovative product and very optimistic about the market prospects for crypto note and bond products using FQX’s eNotes,” said Yulong Liu,

Partner of Babel Finance. “Babel Finance will continue to leverage our strengths in product innovation and work with our partners to expand this market, ” Liu added.
Benedikt Schuppli Co-CEO of FQX stated: “With eNotes on Solana, accessible via Fireblocks, we drastically reduce the economic distance between borrowers and lenders in a cross-border setting and make financing overall radically easier”.