BlackOpal(@blackopal_fi):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.

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BlackOpal@blackopal_fi

2026.07.15 03:58

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.