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Galaxy Digital leads $20 million funding for Fence, plans to use blockchain to overhaul the backend system of the $6 trillion credit market
BlockBeats News, April 29 — Galaxy Digital led a $20 million funding round for fintech company Fence, with participation from Parafi Capital and Crane Ventures. Fence plans to leverage blockchain, smart contracts, and tokenization technology to overhaul the backend processes of the $6 trillion asset-backed finance market.
The funds will mainly be used for Fence’s expansion in the U.S. market and product development. Reports indicate that many structured credit transactions still rely on manual processes such as Excel, PDFs, and emails to track loans, verify collateral, and process cash flows, resulting in low efficiency and limited transparency. Fence aims to achieve real-time data updates and automated settlement through a unified system.
According to the company, Fence retrieves loan data via APIs and uses smart contracts to automatically execute payments and cash flow distributions once conditions are met. Additionally, the company can tokenize loan shares within financing vehicles, allowing investors to transfer positions, collateralize financing, or automatically receive payments.
Currently, the Fence platform manages approximately $1.5 billion in assets, with partner institutions including BBVA, BlackRock, and Fortress Investment Group. The company states that compared to traditional processing cycles of several months, their system can onboard new transactions within weeks.