Wizkey: the future of the credit market

Wizkey, born in 2018 by an experienced team of structured finance operations, is a decentralised infrastructure that uses the blockchain for credit tokenisation..

The blockchain plays a central role as a technological solution that can reduce the costs and timing of traditional financial processes thanks to its transparency, security and lack of intermediaries.

In fact, there are countless cases of use and experiments already underway, including for example the „Spunta“ project by Abi Lab.

How to transform illiquid assets into tokens

Wizkey allows actors such as banks and companies to value illiquid assets such as credits by turning them into tokens based on the Ethereum blockchain, which guarantees transparency and security.

Thanks to this process, tokens can be traded on the market and thus be monetised, offering a not inconsiderable advantage for investors.

This is why Wizkey has launched the Define platform for the impaired loans market, so-called NPLs (non-performing loans).

Wizkey CEO Marco Pagani said:

„This is a very interesting market, where manual document search operations take a long time and are often a problem when negotiating portfolios. Here blockchain technology can bring interesting benefits in terms of operational and economic efficiency. That’s why we wanted to focus our efforts on creating a simple and highly intuitive dynamic platform that saves a lot of time and money“.

NPL: a growing market in 2021

According to a study by Bain & Co next year there will be an exponential growth in non-performing loans.

Banks will become weaker as during the 2008 crisis and there will be an increasing need for tools to help them manage their investments.

Define is a tool that could do this, allowing access to the credit market, cutting costs and maximising the value of portfolios.

Define was launched in 2019 and some banks have already tested the platform, as explained by its CEO:

„WizKey is already operational on the market and to help banks and operators, at this particular unprecedented time, we have decided to grant until the end of the year, free use of our platform in testing. We are very pleased to be able to accompany those who wish to choose us in this path of innovation which is as necessary as it is indispensable to face 2021 and the years to come in the best possible way“.

What does Wizkey do:

  • Certified digitisation of credit documents;
  • Installation platform;
  • Documentary upload in platform;
  • Credit tokenisation and document storage and tokenisation (ERC721);
  • Invitation from buyer party;
  • Trading on the platform (with exchange of transfer contracts);
  • In return for payment, transfer of the entire document set + credit token in favour of the buyer.