RWA Protocol Polytrade issues its first on-chain bond via Obligate platform

Obligate
3 min readFeb 1, 2024
The move marks Obligate’s continued expansion as the first Swiss eNote backed by trade receivables for the platform in Asia

Obligate has successfully facilitated a bond issuance for Polytrade, the global tokenized real-world asset marketplace. The funding was secured through an electronic, blockchain-based bond (eNote™) on the Obligate platform using the Polygon PoS Network, with all proceeds disbursed in Circle’s USDC stablecoin. With this bond issuance, Polytrade achieves a milestone in innovative fundraising, closely following the recent soft launch of its new RWA marketplace.

“This eNote marks the start of a long-lasting relationship with Obligate. It also showcases our resolve in continuing to grow our tokenization business while we go from a single asset to a multi-asset RWA aggregator,” said Piyush Gupta, CEO of Polytrade.

Tobias Wohlfarth, Head of Origination at Obligate, shared: “As the select partner of Polytrade’s inaugural and forthcoming digital bond issuances, we are signifying a strategic advancement into the Asian market. This alliance reaffirms our steadfast dedication to transforming on-chain capital markets without geographical limitations.”

“As the tokenization landscape evolves, greater global market access and broader infrastructure offerings are going to be critical to widespread adoption. Obligate and Polytrade are swiftly addressing both of these core competencies and we are excited to see this growth of the tokenization space being facilitated on Polygon,” said Colin Butler, Global Head of Institutional Capital at Polygon Labs.

The high concentration of bank lending in the APAC region combined with banks being more conservative in the context of regulatory requirements when it comes to lending to SMEs, highlights the importance of diverse funding sources, which are particularly beneficial for SMEs. This is where the significance of alternative funding sources, like those offered by Polytrade, becomes evident. Platforms such as Obligate, by providing such non-bank lenders access to new forms of capital, play a crucial role in filling this gap.

“Liquidity is one of the key bottlenecks for RWAs and this partnership with Obligate marks a big step towards easing liquidity for the sector,” concluded Milind Bansia, Head of Strategy at Polytrade.

This latest bond issuance facilitated by Obligate builds on the platform’s recent invitation to join the Tokenized Asset Coalition alongside industry giants Circle and Coinbase. As a member, Obligate actively leverages its expertise in arbitration, regulation, and tokenization, playing a pivotal role in advancing research initiatives focused on the development of Tokenization Laws, DLT-based Dispute Resolution & Arbitration Schemes, and RWA Regulation on a global scale.

About Polytrade

Polytrade is a real-world asset company building applications to bring assets on-chain including ERC-6960 and the first global RWA Marketplace. Polytrade operates these platforms as well as deploys custom implementations with financial institutions and banks.

About Obligate

Standing at the forefront of institutional adoption in on-chain capital markets, Obligate is providing a secure, transparent, and regulatory compliant platform for the issuance, trading, and lifecycle management of debt instruments natively issued on the blockchain. The platform’s unique architecture caters to the complex needs of institutional investors whilst lowering the barriers of entry for issuers by providing efficient access to multilateral financing. Featuring their proprietary eNotes®, ledger-based securities based on the most advanced DLT-legislation, a comprehensive dispute resolution framework, and global enforceability of the debt securities, Obligate demonstrates its commitment to meeting institutional standards. Obligate AG is a member of VQF, a Swiss FINMA regulated AML SRO, and a financial intermediary.

Media Contact:
Amy O’Connor
Wachsman
Amy.oconnor@wachsman.com

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Obligate

Obligate is an investment platform that enables investors to explore and invest in on-chain bonds in a regulated environment.