Structured Finance Is Officially Evolving from Spreadsheets and Email to Integrated and Automated Blockchain-Enabled Platform with Adoption by Traditional Financial Institutions
NEW YORK, March 11, 2022 /PRNewswire/ — Intain Inc., a leading provider of blockchain-enabled structured finance platform for issuers and investors to connect in an efficient, secure and trusted way, announced today that more than $4 billion of deals are now being administered on its platform. Intain’s recent momentum demonstrates that the industry is evolving away from spreadsheets and emails to more efficient and transparent structured financial transactions. Such large-scale adoption of a blockchain platform by traditional financial institutions legitimizes the industry at a crucial stage in the evolution of enterprise blockchains.
At the close of 2021 Intain reviewed its business growth; witnessing more than 20 new clients were on-boarded across many financial asset classes including consumer loans, student loans and mortgages, with more than $3.8 billion in assets being administered, rated and unrated deals.
“The accelerating pace of assets being on-boarded through new deals is really exciting. It took two years to reach the first billion, two quarters for the second billion, and just two months to reach our third billion dollars in assets on the platform,” said Siddhartha, Founder and CEO of Intain. “Blockchain in financial services has reached an inflection point where more traditional financial institutions see the benefits and are beginning to consider and adopt the technology. With our conservative approach, while still maintaining a pioneering attitude, inside the financial regulations, we are perfectly positioned to perform as the de facto administrative platform for structured finance. We’re not interested in being disruptive; we are simply dependable and results-driven.”
“The industry has matured, and blockchain is becoming routine. The blockchain platform has evolved to become the crucial and secure trust layer. There is an incredible amount of investment in decentralized finance in the blockchain, and we have chosen to steer down the path of adoption at the moment, as building credibility through delivering results is crucial,” said Eric Mitzel, Vice President of North America Sales and Client Solutions, Intain. “We have taken careful strides to implement a pragmatic use of blockchain that acts as a bridge into the existing world of structured finance, served by agents and trustees within the industry.”
Intain is on course to become the default industry platform for structured finance in partnership with trustees for public deals and traditional institutional transactions. An established blockchain-based platform will become the ‘trust’ layer in alternative transactions where agreements may not involve trustees or rating agencies.
Published here: https://www.prnewswire.com/news-releases/intain-on-boards-more-than-4-billion-in-new-client-transactions-during-pandemic-cements-its-position-as-driver-of-blockchain-growth-in-structured-finance-301500642.html?tc=eml_cleartime
