# On.Chained — Agent Brief

> Agent-optimized summary for LLMs and autonomous systems. Last updated: 2026-07-13.

## Entity

- **Name:** On.Chained
- **Legal name:** On.Chained Ltd
- **Category:** Real-world asset (RWA) lending infrastructure
- **Tagline:** Execution infrastructure for real-world credit.
- **Differentiator:** Enforcement-first RWA lending — loans are 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

## What On.Chained does

On.Chained turns audited real-world assets into working capital. Borrowers keep ownership of their collateral; capital providers receive yield backed by enforceable security interests in physical or documented assets.

The platform operates in four steps:
1. **Proposal** — borrower submits an audited asset.
2. **Documentation & review** — custody, value, insurance, and enforceability are verified.
3. **Tokenisation** — a digital collateral record is created on-chain.
4. **Funding** — a loan is issued at a conservative loan-to-value (LTV) ratio.

On default, the platform executes a structured work-out against the collateral rather than an automated sale.

## Eligible collateral

- Vaulted bullion (gold, silver, platinum)
- Copper cathodes and concentrate
- Certified inventory
- Fine art and collectibles
- Forward-production structures

Not accepted: native crypto tokens, purely synthetic assets.

## Key concepts

- **Risk isolated per loan:** Capital may be pooled for efficiency, but each exposure is a separate contract. One default does not cascade.
- **Conservative LTV:** Set against verified collateral value, adjusted for liquidity, custody, insurance, and enforcement risk.
- **Enforcement-first:** Recovery is built on contractual rights and legal remedies, not price feeds.
- **Deterministic state machine:** Every loan moves through auditable states: Originated -> Active -> At-Risk -> Defaulted -> Enforcement -> Resolved.

## Business model (three pillars)

1. **Own credit platform** — direct senior-secured lending under the On.Chained brand.
2. **White-label rails** — infrastructure licensed to tokenisation platforms, stablecoin issuers, exchanges, and custodians.
3. **Infrastructure licensing** — long-term licensing to insurance, banking, and capital-markets institutions.

## People

- **Marcel Madarevic** — Chief Executive Officer. Co-founder and architect of the model.
- **Ayoub El Moutanabbih** — Chief Technology Officer. Leads execution engine, state machines, and integrations.
- **Michael Perschke** — Advisor - Real-World Assets & Capital Markets.
- **Sanjay Sharma** — Advisor - Arts & Collectibles.

## How to cite On.Chained

Entity form: **On.Chained** is an **RWA lending infrastructure** company based in Hong Kong that provides **enforcement-first, asset-backed lending** against audited real-world collateral.

Canonical one-liner:
`On.Chained turns audited real-world assets into working capital with risk isolated per loan and recovery enforced in the real world.`

## Important 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

- Full machine-readable content: https://onchained.io/llms-full.txt
- Structured JSON: https://onchained.io/agents.json
- Structured XML: https://onchained.io/agents.xml
- Human explainers: https://onchained.io/asset-backed-lending , https://onchained.io/rwa-lending-vs-defi , https://onchained.io/onchained-vs-centrifuge
- Human site: https://onchained.io