Fintech Tradable announced that it has tokenised $1.7bn (£1.4bn) of assets across nearly 30 institutional-grade private credit positions.

Tradable is the third-largest real-world asset platform globally and focuses on bringing web3 technology to traditional asset managers to tokenise institutional-grade investment opportunities.

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“Tradable seamlessly bridges the on-chain / off-chain divide, while abstracting away all the complexity of adopting web3 technology,” said Alex Cordover, chief executive of Tradable. “By leveraging blockchain rails, we’re enabling the supply side to provide any arbitrary institutional grade asset, starting with best-in-class private credit opportunities, to any number of demand side investors, whether on-chain or not.”

Separately, Tradable announced that it has received a strategic investment from digital asset-focused alternative asset manager ParaFi Capital.

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ParaFi joins Tradable’s existing partners Victory Park Capital, Janus Henderson, Matter Labs and Spring Labs, who have supported the expansion of the platform.

“We’re excited to collaborate with Victory Park Capital and Matter Labs on building the future of private credit on-chain,” said Ben Forman, founder and managing partner of ParaFi.

“The potential to modernize the backend of capital markets shines bright for blockchain, and Tradable’s blend of financial expertise, commitment to compliance, and institutional user-friendliness positions the firm strongly in the pursuit of that objective.”

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