Capital Partners
Banks & Financial Institutions
Basel IV is rewriting the economics of EM trade finance origination. SA-CCR and FRTB raise the regulatory capital cost of exactly the assets that trade finance banks have spent decades originating. The choice is not whether to originate — it is whether to distribute. Caviar is the originate-and-distribute infrastructure for tokenized EM trade finance, with ZK-proven eligibility, settlement rail, and white-label compliance.
Key figures
How it works
Originate using your franchise; distribute using ours.
Repeatable tokenized securitization, monthly
The bank originates using 30 years of relationship investment. Caviar provides the tokenization, ZK-proven eligibility, waterfall execution, and institutional investor access that turns held-to-maturity balance sheet assets into a distributed capital markets product. Versana solves syndicated loans; Caviar solves EM trade finance.
Pool composition, concentration limits, and obligor diligence proven cryptographically — without exposing borrower-level data to the investor base. Borrower confidentiality preserved across distribution.
Tranche economics execute automatically; participation tokens trade on the Private DEX. Investor base widens from hold-to-maturity buyers to liquidity-sensitive credit funds and insurance.
Settlement rail + white-label compliance
Documentary trade finance still runs on SWIFT, courier documents, and multi-day settlement — particularly painful in EM corridors with thin correspondent banking. Caviar Chain provides MLETR-compliant electronic document transfer and DvP settlement. Compliance Vault reduces redundant in-house attestation infrastructure.
Document presentation and payment in one block. Multi-day correspondent settlement compresses to 500ms; document attestation lives in Ledger.
KYB, OECD DDD, FEOC, EU Battery Reg, and OFAC screening as ZK-proven attestations. Cost rationalization on infrastructure that was previously redundant across origination and risk.
Capabilities
Production infrastructure, not another PoC.
Tokenized securitization shelf
Repeatable structuring at 1–2% upfront + 0.25–0.5% annual servicing. The cost and time of conventional securitization are removed; the bank runs distribution monthly against origination flow.
Settlement rail (MLETR + DvP)
MLETR-compliant electronic document transfer + DvP settlement on Caviar Chain. Measured cost reduction vs. SWIFT correspondent settlement, particularly in thin-correspondent EM corridors.
Compliance Vault white-label
API-accessed ZK attestation infrastructure for KYB, OECD DDD, FEOC, EU Battery Reg, and OFAC. Enterprise license $500K–$2M/yr replaces redundant internal compliance build.
Multilateral netting
Net gross bilateral trade finance settlement across counterparties. 2–5bps on netted notional; capital released from gross-exposure RWA.
Project Guardian-compatible
Active regulatory engagement across MAS, DFSA/DIFC, and SFC. Caviar Chain is in the same regulatory conversation as your digital assets team.
ZK borrower confidentiality
Eligibility proofs disclose pool quality without exposing borrower financials to the investor base. The relationship banker keeps the borrower; distribution still happens.
Comparison
Traditional vs. Caviar
| Traditional | Caviar | |
|---|---|---|
| EM trade finance distribution | Hold-to-maturity, hand-syndicated | Tokenized securitization, repeatable |
| Documentary settlement | SWIFT + courier, multi-day | MLETR + DvP, 500ms |
| Compliance infrastructure | In-house build, per-bank duplication | White-label ZK attestations |
| Bilateral exposure | Gross settlement, RWA-heavy | Multilateral net at 2–5bps |
Use cases
Real-world applications
Bulge bracket trade finance desk
Head of Trade Finance at a global bank with a $25B EM book. Basel IV RoRWA compression triggers a distribution program. Originate-and-distribute via tokenized securitization preserves the origination franchise without holding capital-penalized assets.
Regional bank, $3B EM book
Head of Structured Credit at a corridor specialist (CIMB, Mashreq) builds a repeatable securitization program against its trade finance origination flow. Tokenized participation tokens with secondary liquidity widen the placement universe beyond hold-to-maturity buyers.
Bank digital assets innovation
Head of Digital Assets at a Project Guardian participant deploys settlement rail + Compliance Vault. Production deployment with measurable ROI on documentary settlement and compliance cost — not another PoC.
Protect the origination franchise. Distribute the assets.
The infrastructure for tokenized EM trade finance distribution: ZK-proven pool eligibility, MLETR settlement, white-label compliance, and a credentialed institutional investor base.