August 10, 2025
5 min read
Theia Patin
Credefi × Brickken: Permissionless Lending for Real-World Assets
The asset tokenization platform Brickken and the decentralized credit protocol Credefi announced on July 28, 2025, a strategic partnership marking a major step forward in the convergence of regulated tokenization and decentralized finance. From now on, holders of shares or tokenized bonds issued via Brickken can use these assets as collateral to borrow USDC directly on Credefi, through a permissionless, peer-to-peer, and non-custodial mechanism.In brief
- Brickken tokenized securities can now serve as collateral on Credefi.
- 100% decentralized USDC loans, without intermediaries or third-party custody.
- Alliance between regulatory compliance and DeFi liquidity for real-world assets (RWAs). This means no institutional intermediary intervenes in the process: no approval desk, no trusted third party, no centralized arbitration. The loan terms (amount, duration, rate) are freely defined between borrower and lender, and all flows pass through autonomous smart contracts, ensuring the collateral is held until repayment or liquidation. All within a framework compliant with European regulatory requirements (MiCA, MiFID), ensured upstream by Brickken.
- Brickken built a token-as-a-service chain: KYC, securities registry, MiFID/MiCA compliance, a layer that asset holders favor to issue equity tokens or debt tokens without hacking the regulation.
- Credefi specializes in decentralized credit backed by RWAs (invoices, SME loans, private bonds) and already operates rated, controlled, and insured pools in Europe. The alliance thus relies on two complementary expertise: compliance and tokenization (Brickken) on one hand, risk management and loan marketplace (Credefi) on the other. Together, they transform a “compliant” security into liquid collateral usable wherever USDC is accepted.
- Asset valuation depends on the latest available assessments, without real-time oracle.
- P2P matching is based on direct supply and demand, without a pooled pool; a lender still needs to respond to each offer.
- Legal implications may vary by jurisdiction, notably outside the EEA. These are identified limits but expected at this stage of maturity. The whole remains solid, functional, and already represents a significant breakthrough in integrating tokenized assets into decentralized finance.
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From tokenization to liquidity: what really changes
Until now, most tokenized securities were subject to custodial logic or passive speculation. By making these assets mobilizable as collateral, the Brickken–Credefi integration offers a new tangible utility to tokenization: obtaining liquidity without giving up the asset, while retaining control over the loan parameters. On the lender side, this system provides access to returns backed by real assets (equity tokens or bonds), instead of exposure only to volatile tokens or those disconnected from tangible economic value. The solution remains entirely decentralized: no custodians, no centralized decisions, and automated repayment through smart contracts.Why Credefi and Brickken made sense
A step towards an organic secondary market?
The real question is: will investors follow? The first volumes will tell if the model appeals:| Indicator | Why it matters |
| –––––––––––––––- | –––––––––––––––––––––––––––––––––––––––- |
| Amount of collateral deposited | Measures the appetite of issuers to immobilize their equity token. |
| Volume of USDC loans made | Gives the real depth of the market and the efficiency of rate discovery. |
| Secondary spread on tokenized RWAs | The more the loan liquefies liquidity, the narrower the buyer-seller spread. |
Reasonable points of caution
Like any permissionless system, the setup remains exposed to several challenges:Towards a new generation of decentralized loans
By allowing a compliant tokenized share to become DeFi collateral without permission, Brickken and Credefi fill a structural void: the absence of liquidity for tokenized assets. If they manage to attract a steady flow of loans and prove the quality of servicing (repayments, clean liquidations, transparent reporting), the integration could well serve as a reproducible model for other asset classes: fractional real estate, infrastructure debts, or industrial receivables. For now, the market finally has a full-scale testing ground, where DeFi and compliant RWAs can interface freely, without major entry barriers.Frequently Asked Questions (FAQ)
Partnership Details
Q: What is the primary goal of the Credefi and Brickken partnership? A: The partnership aims to enable permissionless lending for real-world assets by allowing tokenized securities issued via Brickken to be used as collateral for USDC loans on Credefi. Q: What types of assets can be used as collateral? A: Holders of shares or tokenized bonds issued through Brickken can use these assets as collateral. Q: What is the mechanism for borrowing on Credefi through this partnership? A: The mechanism is described as permissionless, peer-to-peer, and non-custodial, utilizing autonomous smart contracts.DeFi and Tokenization
Q: How does this partnership bridge the gap between traditional finance and DeFi? A: It merges regulatory compliance in tokenization (Brickken) with DeFi liquidity for real-world assets (Credefi), creating liquid collateral from compliant securities. Q: What new utility does this integration bring to tokenized securities? A: It provides a new tangible utility by making tokenized assets mobilizable as collateral, allowing owners to gain liquidity without relinquishing the asset. Q: What is the benefit for lenders in this system? A: Lenders gain access to returns backed by real assets, rather than solely volatile tokens.Operational Aspects
Q: Are there any intermediaries involved in the loan process? A: No, the process is designed to be entirely decentralized, without institutional intermediaries, approval desks, trusted third parties, or centralized arbitration. Q: How are loan terms determined? A: Loan terms, including amount, duration, and rate, are freely defined between the borrower and the lender. Q: What happens to the collateral during the loan period? A: The collateral is held by autonomous smart contracts until the loan is repaid or liquidation occurs.Challenges and Future Outlook
Q: What are some of the potential challenges of this permissionless system? A: Challenges include asset valuation without real-time oracles, P2P matching relying solely on supply and demand, and varying legal implications across jurisdictions. Q: What potential impact could this partnership have on other asset classes? A: If successful, it could serve as a reproducible model for other asset classes like fractional real estate, infrastructure debts, or industrial receivables. Q: What indicators will show if this model appeals to investors? A: Key indicators include the amount of collateral deposited, the volume of USDC loans made, and the secondary spread on tokenized RWAs.Crypto Market AI's Take
This strategic alliance between Credefi and Brickken signifies a crucial advancement in the tokenization of real-world assets (RWAs) and their integration into decentralized finance (DeFi). By leveraging Brickken's expertise in compliant asset tokenization and Credefi's decentralized credit protocol, this partnership unlocks new liquidity avenues for tokenized securities. This development aligns with the broader trend of bringing traditional financial assets onto the blockchain, making them more accessible and usable within the DeFi ecosystem. Such integrations are vital for the maturation of DeFi, offering tangible utility to tokenized assets beyond simple speculation and providing lenders with yield opportunities backed by real-world value. The success of this model could pave the way for wider adoption of RWAs in DeFi, potentially transforming how credit and lending function in the future. For more on the growing role of RWAs in finance, explore our insights on AI-driven market analysis and the future of DeFi lending protocols.More to Read:
Source: Credefi × Brickken: Permissionless Lending for Real-World Assets