09.24.2018

GDR Expands Structured Credit Blockchain Offering

Global Debt Registry (“GDR”), a leading blockchain solution provider for the structured credit market, has extended itscurrent blockchain platform offering into additional ABS asset classes. This announcement follows the company’s June 2018 launch, which focused on supporting the efficiency of lending to the $15 billion marketplace loan sector. To date the company had concentrated on marketplace loans to demonstrate value and a working model and is now scaling to support banks needs across other asset classes.

GDR completed a 30-day comment period in August, during which time the company invited feedback from the top banks on the current distributed ledger platform and the capabilities needed to accommodate additional asset classes. Bringing these markets onto the blockchain allow banks to leverage the benefits of ePledge for the majority of their ABS credit facilities, and ensures a single, aggerate and immutable pledge position is recorded across the industry.

“GDR is demonstrating the scalability of blockchain platforms for the credit market and corresponding opportunity for leading banks to see greater transaction volume across the ABS market,” said Patrick Dietz, Product Director for GDR. “We have seen great support from banks with marketplace lending assets, and the platform only grows in value as we bring additional loan data onboard and provide ever increasing data-certainty for the market.”

GDR is now targeting growth into over $250 billion of loans in the asset-backed securities market, led by asset classes such as Auto, Credit Card, Student and Equipment amongst others.

“GDR is working with several banks to get new asset class pledge positions live on the platform in Q4” added Dietz. “Immutable single pledge records provide a foundation for registering each asset, on which we are building additional loan characteristics to represent the entire asset. With enhanced asset integrity through the blockchain comes improved efficiency and lower cost of transactions.”

Along with top banks and loan issuers, GDR is also working with auditors, custodians, and regulators to immutably record loan attributes at each point in the asset lifecycle for a higher level of data integrity across the ecosystem.

“Inclusivity is a very important pillar of our plans for GDR’s growth, and by establishing a credit industry blockchain platform for the sharing and distribution of loan data with high integrity, all parties can experience a more efficient and cost-effective market,” adds Charlie Moore, CEO and President of GDR. “Conducting our comment period was hugely helpful towards these ends, and we plan to continue to keep an open dialogue with all players, from origin to securitization, as we expand into billions of dollars of additional lending sectors.”

Related articles

  1. One investor likens digital currencies to gold.

  2. DataArt assesses the future of blockchain, AI and cloud.

  3. A network of more than 1,700 financial firms will be migrated in May 2019.

  4. Blockchain for IDs?

    CLSNet is the first global FX market enterprise application running on blockchain in production.

  5. The country introduced a DLT regulatory framework in January this year.