We are pleased to announce that we crossed $100 million in AUM in our core product, LiquidStone II, delivered onchain through nOPAL. We are proud of this not because of the number itself, but because of the trust placed in us by our partners and investors. We set out to bring the best of emerging market ABF to investors around the world. And we are doing it onchain, with global access through nOPAL on Plume Vaults, composable across DeFi and deployed across multiple chains. Through every cycle, we have tried to do the simple thing, which is deliver what we said we would deliver. Consistent yield, with structurally limited risk. Much gratitude to our partner @plumenetwork, who has been with us from the start and has driven much of the DeFi integration and distribution. We keep listening, learning and growing together. To everyone who believed in us before there was a number to point to, thank you. This is only the beginning. More products. More partnerships. More opportunities to serve investors around the world with the best of emerging market ABF. To learn more, go to

Great to see high quality EM ABF expand its reach. First looping, now tranching of nOPAL, built on our institutional-grade receivables. Clever innovation from @strata_markets. RWA composability keeps stacking.

Good piece on why tranching is the unlock for onchain ABF. Worth pausing on the nOPAL mention: those Brazilian credit card receivables are manufactured by BlackOpal. Regulated settlement rails, true sale, CERC registry, 0.0% defaults. That's what an excellent asset side takes. Strata is right that granularity fixed the first problem and the capital stack comes next. Structures built to investor mandate is exactly where this market is heading.