🔎 RESEARCH: Bringing private credit onchain is not just a distribution problem.

The bigger challenge is aligning three layers: retail access, disciplined underwriting and enforceable claims.

Structured-access hybrid models keep funding and ownership onchain, while borrower checks, physical collateral and default recovery remain within regulated legal frameworks.

That matters for SMEs, whose loans are often backed by equipment, vehicles, real estate or inventory rather than crypto assets.

8lends illustrates this structure: it operates as the retail-facing distribution and settlement layer, while Maclear AG, a FINMA-supervised financial intermediary, underwrites the loans, registers collateral and manages enforcement.

Read the full report:

https://s3.cointelegraph.com/repo...
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