Fintech firms Sygnum and Float have joined forces with credit fund Fasanara Capital to offer tokenised access to private debt markets. Float, a capital-as-a-service company based in Stockholm, has introduced the Float Token in collaboration with Sygnum bank on the Polygon blockchain. This move allows Sygnum’s clients to invest alongside Fasanara Capital, a UK-based fintech-focused credit fund manager.
The Float Token has a maturity of 18 months and offers a fixed annual interest rate of 14 per cent, with quarterly interest payments. It provides investors with exposure to a portfolio of loans to small-and-medium enterprise technology businesses in Europe. Investors can also utilise Sygnum’s secondary market, SygnEx, for liquidity. The tokenisation process facilitates ease of transferability and lower ticket sizes for investors.
Fatmire Bekiri, Sygnum’s head of tokenisation, stated that the Float Token represents the first instance of a high-yielding private market instrument being made widely available to investors through tokenisation. She emphasised that this project underscores Sygnum’s strategic focus on making private market assets more accessible and investable, and it is only the first issuance with more to follow.
Fasanara Capital, which manages over $4bn in assets in fintech strategies, was founded in 2011. The group employs more than 200 people and operates liquid alternative credit funds. Francesco Filia, chief executive and co-founder of Fasanara Capital, commented on the partnership, stating that tokenised debt markets are on the verge of becoming mainstream. He expects this asset class to reach USD 3.5 trillion by 2030. Filia expressed pride in supporting the integration of Float’s high-performing debt portfolio into Sygnum’s market-leading environment and dedication to bringing even more debt on-chain.
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| Information | Details |
|---|---|
| Geography | Europe |
| Countries | 🇬🇧 🇸🇪 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Fatmire Bekiri, Francesco Filia |
| Companies | Float, Sygnum, Fasanara Capital, Untangled Finance, SygnEx |
| Currencies | Polygon |
| Securities | None |
