Syndicated loans · Use cases
Loan assignments in seconds, not T+20.
A loan trade still takes ~20 days to settle — every assignment runs by hand through the agent bank, behind ClearPar paperwork, borrower consents and re-run KYC. As a bearer token, a loan commitment settles in seconds, carries its own eligibility and consent rules, and keeps every position private.
The settlement lag
T+20, or two seconds.
The problem
One intermediary. Every trade, by hand.
In a syndicated loan, a single intermediary — the agent bank — is the settlement layer, the register, the gatekeeper and the paying agent all at once, and reconciles every assignment manually against its own book. That's why a trade takes ~T+20 instead of T+1, why the market runs on "delayed compensation" to cover the gap, and why every assignment drags a ClearPar workflow of PDFs, consents and re-run KYC behind it.
Settle in seconds
Assignments finalise the moment they're made — no manual reconciliation, no delayed compensation, no twenty-day wait.
Rules ride with the loan
Eligible-assignee checks, the DQ list, borrower consent and KYC travel inside the token and enforce themselves at transfer.
Positions stay private
Holdings and identities are never exposed — yet anyone can still prove every holder was an eligible, KYC'd lender.
Cash flows on one rail
Interest and principal pay out pro-rata to whoever holds the tokens at record time, automatically.
How it works
One intermediary, decomposed.
Use case 01· settlement
No double-assignment. Settled in seconds.
Today the agent bank confirms by hand that a loan piece hasn't been double-assigned, checking each trade against its own register — the manual step that turns settlement into a ~T+20 process. A bearer loan token proves it can only be assigned once, so a trade finalises in seconds instead of weeks — and the delayed-compensation regime that exists only to cover the lag simply isn't needed.
For — agent banks, lenders, trading desks
Manual register checks
The agent hand-checks every assignment against its own book — the reconciliation that produces ~T+20 and delayed compensation.
With Unicity
The token can only be assigned once, provably. Settlement collapses from weeks to seconds.
Use case 02· ownership
Your position, self-proving.
The record of who owns which piece lives on the agent bank's books today — to confirm a position, you ask the agent and trust its copy. Hold a bearer loan token and ownership is self-proving: the register is distributed into the tokens themselves, so holding the token is the proof you own the commitment. Nothing to query, nothing to reconcile.
For — lenders, custodians, agent banks
Ask the agent, trust its book
The lender-of-record register sits on the agent bank's ledger. Confirming a position means querying the intermediary.
With Unicity
The register lives in the tokens. Holding the token is proof of ownership — nothing to query.
Use case 03· eligibility & consent
Eligible-assignee, DQ list and KYC — enforced at transfer.
A bearer loan token carries the borrower's transfer restrictions inside it. It won't move to a wallet without an approved-lender credential, or one on the disqualified-lender (DQ) list. Borrower and agent consent is a required attestation for the transfer to complete, and the incoming lender's KYC rides as a reusable credential — verified once, presented on every trade instead of re-run by hand. Minimum assignment sizes and minimum-hold periods are enforced the same way. An ineligible assignment simply can't be formed.
For — agent banks, borrowers, compliance
Vetted by hand, every trade
The agent manually vets each buyer, re-runs KYC on every assignment, and chases borrower consent through the ClearPar paperwork.
With Unicity
Eligibility, the DQ list, consent and KYC enforce themselves at transfer. A non-compliant assignment can't be built.
Use case 04· confidentiality
Provably compliant, without exposing who holds what.
Lender identities and positions are commercially sensitive — a transparent chain that broadcasts every holding is a non-starter. A bearer loan token keeps positions confidential by default, yet a buyer or the agent can still prove that every prior holder was an eligible, KYC'd assignee — that the DQ list was never breached — without revealing who any of them were. Confidentiality and compliance at the same time.
For — lenders, agent banks, regulators
Trust the checks, or expose everyone
Compliance today rests on the agent's manual vetting; proving it on a transparent ledger would leak every lender's position.
With Unicity
Cryptographic provenance proves every holder was eligible and KYC'd — without revealing a single identity.
Use case 05· distributions
Interest and principal, paid on the same rail.
Because the token settles the trade and the token is the register, a distribution is simply a pro-rata payment to whoever holds the tokens at record time — paid automatically in a compliant stablecoin, peer-to-peer, with no manual paying-agent run and no correspondent-banking delay. The same rail that settles the trade pays the cash flows.
For — paying agents, lenders, borrowers
Manual paying-agent runs
The agent calculates pro-rata shares and pushes payments through correspondent banking — another manual leg, another delay.
With Unicity
Distributions pay out pro-rata to token holders at record time, automatically, in a compliant stablecoin.
Use case 06· legal effect
Built to be a legally effective assignment.
A token transfer only helps if it counts as a real assignment — so it's designed for the legal wrapper, not just the cryptography: an assignment mechanism that fits LSTA/LMA documentation (or bespoke drafting per deal), so possession is recognised as ownership if a dispute arises. And because loans aren't static — drawdowns, paydowns, PIK, amendments, restructurings — the token's state model is built to carry mutable terms, not just a fixed face value.
For — credit counsel, LSTA/LMA, agent banks
Does the paperwork recognise it?
A token transfer is only useful if the credit agreement treats it as an assignment and a court treats possession as ownership.
With Unicity
An LSTA/LMA-fit assignment mechanism plus a state model built for drawdowns, PIK and amendments — legal effectiveness by design.
Confidential & compliant
Private, but provable.
Ownership & cash flows
The register, in every hand.
Your loan market, without the lag.
Keep your credit agreements, your paperwork and your agent bank — the agent stays the credential issuer and paying agent. What changes: assignments settle in seconds, eligibility and KYC enforce themselves, cash flows pay automatically, and every position stays private.