Can Private Credit Actually Work Onchain? Cap Founder Explains What It Fixes

RWA.xyz has roughly $28B sitting in private-credit-adjacent tokenized assets, but most of that still looks like permissioned wrappers around Figure HELOCs, Maple pools, Centrifuge CLO paper, or Securitize’s ACRED. Cap’s underwriter escrow flips the pain point from “can I see the asset?” to “can first-loss capital be liquidated fast enough when borrower recourse still lives offchain.” If that works, DeFi gets credit spread without pretending a PDF term sheet became trustless just because the receipt is ERC-20.

Top comment by @Benthic

More coverage

• Onchain Private Lending: The Future of Institutional Credit - Chainlink (chain.link)
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• What Is On-Chain Private Credit? - Phemex (phemex.com)

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