NA Capital-as-a-Service SSTN (PC0016245)

Rank #722

NA Capital-as-a-Service SSTN (PC0016245) is a tokenization project that brings real-world credit flows into an on-chain representation. Facilitated by Tradable.xyz on ZkSync Era, the asset focuses on making merchant cash advances available to small businesses through partners with payment facilitators.

How tokenization works

The project tokenizes the partners and structures access to merchant cash advances (mcas) for smaller merchants. The notes issued by Victory Park Capital Advisors are linked to an agreement called “North America Capital-as-a-Service Senior Secured Term Notes”.

As a result, participants receive blockchain exposure to the underlying cash flows, while maintaining the credit logic as the transfer takes place through crypto infrastructure.

Objective in the Real World Assets ecosystem

By connecting traditional financial systems to “blockchain rails,” NA Capital-as-a-Service SSTN seeks to facilitate liquidity and expand investor participation in this private credit segment. The proposal involves simplifying asset management and supporting due diligence processes through a user-focused interface.

The use of smart contracts is also applied to support compliance and traceability in operations.

Technology, compliance, and privacy

The project employs smart contracts for AML/KYC compliance, aiming to meet regulatory standards. In addition, it leverages the scalable and secure infrastructure of ZkSync Era, with a focus on preserving data privacy and reducing settlement costs.

With the on-chain layer, credit exposure can be viewed and operated within the network environment.