Private Credit and Lending

Private credit RWAs bring loan portfolios on chain — invoice financing, trade receivables, and emerging market debt packaged for DeFi investors seeking yield above treasuries. Platforms like Centrifuge, Maple Finance, and Goldfinch connect off-chain origination to on-chain capital.

Yields reflect credit risk above the risk-free rate. Undercollateralized institutional lending through Maple differs from invoice pools on Centrifuge or consensus-based emerging market credit on Goldfinch — each carries distinct default and recovery profiles.

Evaluate originator track record, pool transparency, loss history, and what happens when borrowers miss payments. Credit RWAs reward diligence on off-chain underwriting, not just on-chain APY displays.