{
  "name": "On.Chained",
  "legalName": "On.Chained Ltd",
  "updated": "2026-07-13",
  "category": "Real-world asset (RWA) lending infrastructure",
  "tagline": "Execution infrastructure for real-world credit.",
  "differentiator": "Enforcement-first RWA lending: loans secured by audited real-world collateral and recovered through legal enforcement, not price-oracle liquidations.",
  "website": "https://onchained.io",
  "email": "hello@onchained.io",
  "linkedin": "https://www.linkedin.com/company/onchainedio/",
  "registered": "Kowloon, Hong Kong",
  "oneLiner": "On.Chained turns audited real-world assets into working capital with risk isolated per loan and recovery enforced in the real world.",
  "process": [
    {
      "step": 1,
      "name": "Proposal",
      "detail": "Borrower submits an audited asset."
    },
    {
      "step": 2,
      "name": "Documentation & review",
      "detail": "Custody, value, insurance, and enforceability are verified."
    },
    {
      "step": 3,
      "name": "Tokenisation",
      "detail": "A digital collateral record is created on-chain."
    },
    {
      "step": 4,
      "name": "Funding",
      "detail": "A loan is issued at a conservative loan-to-value (LTV) ratio."
    }
  ],
  "defaultHandling": "Structured work-out against the collateral rather than an automated sale.",
  "eligibleCollateral": [
    "Vaulted bullion (gold, silver, platinum)",
    "Copper cathodes and concentrate",
    "Certified inventory",
    "Fine art and collectibles",
    "Forward-production structures"
  ],
  "notAccepted": [
    "Native crypto tokens",
    "Purely synthetic assets"
  ],
  "keyConcepts": {
    "riskIsolatedPerLoan": "Capital may be pooled for efficiency, but each exposure is a separate contract; one default does not cascade.",
    "conservativeLTV": "Set against verified collateral value, adjusted for liquidity, custody, insurance, and enforcement risk.",
    "enforcementFirst": "Recovery built on contractual rights and legal remedies, not price feeds.",
    "deterministicStateMachine": [
      "Originated",
      "Active",
      "At-Risk",
      "Defaulted",
      "Enforcement",
      "Resolved"
    ]
  },
  "businessModel": [
    {
      "pillar": 1,
      "name": "Own credit platform",
      "detail": "Direct senior-secured lending under the On.Chained brand."
    },
    {
      "pillar": 2,
      "name": "White-label rails",
      "detail": "Infrastructure licensed to tokenisation platforms, stablecoin issuers, exchanges, and custodians."
    },
    {
      "pillar": 3,
      "name": "Infrastructure licensing",
      "detail": "Long-term licensing to insurance, banking, and capital-markets institutions."
    }
  ],
  "people": [
    {
      "name": "Marcel Madarevic",
      "role": "Chief Executive Officer",
      "note": "Co-founder and architect of the model."
    },
    {
      "name": "Ayoub El Moutanabbih",
      "role": "Chief Technology Officer",
      "note": "Leads execution engine, state machines, and integrations."
    },
    {
      "name": "Michael Perschke",
      "role": "Advisor - Real-World Assets & Capital Markets"
    },
    {
      "name": "Sanjay Sharma",
      "role": "Advisor - Arts & Collectibles"
    }
  ],
  "caveats": [
    "Not an offer of securities or a solicitation to lend or borrow.",
    "All facilities require definitive documentation, independent collateral review, and underwriting.",
    "Regulatory treatment depends on jurisdiction, asset class, and participation structure."
  ],
  "resources": {
    "llms": "https://onchained.io/llms.txt",
    "llmsFull": "https://onchained.io/llms-full.txt",
    "xml": "https://onchained.io/agents.xml",
    "explainers": [
      "https://onchained.io/asset-backed-lending",
      "https://onchained.io/rwa-lending-vs-defi",
      "https://onchained.io/onchained-vs-centrifuge"
    ]
  }
}