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Neuberger's Tokenized High-Yield Fund Now Collateral on Loopscale
The Neuberger Securitize High Income Tokenized Fund, known as HINC, has been integrated as collateral on the Loopscale lending platform, allowing eligible investors to borrow the USDG stablecoin against their shares without needing to redeem their positions. This development introduces sub-investment-grade corporate credit into an on-chain lending market that has primarily relied on Treasuries and investment-grade assets for collateral.
Launched on August 18, 2023, HINC primarily invests in high-yield corporate bonds, with a portion allocated to collateralized loan obligations (CLOs) and bank loans. The fund is managed by Neuberger Berman Investment Advisers, which oversees approximately $613 billion in assets. The minimum investment for HINC is set at $100,000, and it is available exclusively to accredited investors and qualified purchasers.
HINC marks the third product from Securitize to be utilized as collateral on Loopscale, following Apollo's tokenized credit fund ACRED and Securitize's own NYSE-listed stock SECZ. Loopscale currently holds $91.3 million in total value locked and has seen a 7.1% increase in active loans over the past month, ranking it 27th among lending protocols according to DefiLlama.
The integration of HINC into Loopscale's offerings is seen as a significant step in expanding the types of collateral available in decentralized finance (DeFi), moving beyond traditional assets. Securitize aims to enhance the liquidity of tokenized real-world assets, which currently have a limited presence in DeFi markets, with only about 11% of tokenized assets actively utilized.
Source: KLEA News