Space and Time (SXT), a Level 1 data blockchain that secures onchain financial projects, has launched a virtual treasury platform that it says is built specifically for institutional lending.
The Microsoft-backed blockchain said Tuesday that its up-to-date virtual vaults can be configured by institutional lenders and borrowers according to their specific contract, with cryptographically verified, constantly updated visibility of borrowers’ security across the centralized exchanges and decentralized finance (DeFi) protocols where they actually reside.
Real-time collateral verification has long vexed the institutional lending industry, with overall solvency rates falling brief of practical needs.
“We have created the space and time for both institutions and onchain protocols to verify the data they operate on, and virtual vaults are the clearest expression of this yet. Institutional lenders need to know exactly what security is backing a loan, exactly when they need it,” said Nate Holiday, co-founder of Space and Time and CEO of MakeInfinite Labs, in a statement shared with Cointelegraph.
SXT chain screenshot explanation. Source: YouTube
According to the statement, each vault is configured for specific terms of the loan agreement, including which locations should be monitored, which assets qualify as eligible collateral and what thresholds trigger alerts.
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Virtual vaults extend the platform to onchain lending, providing verifiable control and reporting to the systems that institutional lenders and borrowers actually need to operate at scale, the company says.
Microsoft made a VC investment and then integrated SXT with its Fabric clever data platform
M12, Microsoft’s venture capital arm, participated in Space and Time’s Series A funding round and led its 2022 strategic funding round, according to Token Terminal. data.
SXT’s last round in August 2024 raised $20 million from investors including Lightspeed Faction and Arrington Capital, bringing the total to $50 million. A company spokesman declined to comment on current financial plans.
Space and Time was integrated with Microsoft Fabric a year ago and was recently designated to co-sell Microsoft cloud solutions. The software giant touts Fabric as an end-to-end “intelligent data platform” that has been rolled out across its cloud offering.
The Space and Time Foundation has been operating since then cooperated together with Southeast Asian company Indomobil to onboard 50,000 students to the ecosystem. This program uses space and time to store proof of course completion and students pay for their courses in SXT.
Space and Time (SXT) market capitalization over the last 12 months. Source: Token terminal
The blockchain’s native token, SXT, is deployed on multiple chains, including Ethereum and Base. At the time of publication CoinMarketCap data showed that there were 368,350 token holders. SXT had a market capitalization of $21.92 million.
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