Real-world credit, issued and traded onchain.
GBx issues tokenized notes backed by asset-backed securities, mortgage-backed securities, emerging market debt and commercial paper, then gives them a live market.
Treasuries are crowded. Private credit is illiquid. The bond-by-bond gap is the $130 trillion opportunity.
Less than 0.1% of the global bond market is tokenized. No dominant exchange exists for bond-by-bond fractional trading. Until now.
Issued by us. Traded by you.
Selected credit
We source credit pools from established issuers and assess each one against defined criteria before it reaches our shelf.
Tokenized notes
Each pool is issued as a tokenized note with clear terms: coupon, maturity, rating and the assets behind it.
A live secondary market
Buy and sell notes on the GBx order book, with designated market makers quoting prices.
Stablecoin settlement
Subscribe, trade, receive coupons and redeem in USDC, USDT or EURC.
Four ways to access real-world credit.
Each strategy is issued as a separate tokenized note, backed by a defined pool of assets with its own terms, rating and risk profile.
- Asset-backed securities
- Mortgage-backed securities
- Emerging market credit
- Commercial paper
Know what you're buying
Our shelf spans credit rated AAA to CCC. Lower-rated notes pay more because their risk of default is higher. We disclose every note's rating, pool data, research and risks up front, so you can decide with the full picture.
Every pool is earned, not listed.
- 1
Issuer due diligence
We assess each issuer's track record, underwriting standards and servicing capability.
- 2
Loan-level data review
We analyse the underlying pool asset by asset, not from summary figures.
- 3
Structural protection
Where appropriate, notes include protections such as subordination, overcollateralisation or reserve accounts.
- 4
Independent assessment
Each note carries an external rating or independent credit assessment within an AAA to CCC range.
- 5
Research and monitoring
Each note comes with credit research, and pool performance is tracked and reported for the life of the note.
Live notes, indicative yields, research and full documentation are available to verified investors.
Launch exchangeFrom real-world credit to a note you can trade.
A clear structure, with every party's role defined.
How the assets move
How the money moves
How trading works
Matched trades settle onchain: notes to the buyer, stablecoins to the seller.
Credit exposure that fits how you already manage capital.
Hold to maturity or trade when you choose.
DAO and protocol treasuries
Diversify reserves with governance-ready credit. Note summaries are written for forum proposals and risk-council review, and allocations scale from $1,000 to treasury-sized positions.
Treasury and asset managers
Plug real-world credit into your allocation models, with standardised note data and live order book pricing for marking positions.
Funds and asset managers
Diversify beyond crypto-native yield with assets tied to real-world cash flows, and adjust positions on the order book instead of waiting for maturity.
Family offices and institutions
Access four credit strategies from a single counterparty, with documentation and credit research built for investment committee review.
Eligible individual investors
Own the exact note, not a blended fund, from $1,000. See the rating, pool data and risks before you invest.
What every investor gets
- Documentation
- Term sheet, offering document, pool data and credit research for each note
- Reporting
- Monthly portfolio reports and reserve attestations every 24 hours
- Trading
- 24/7 order book with designated market makers
- Settlement
- USDC, USDT or EURC, directly to your verified wallet
A new buyer base for your credit.
GBx connects lenders, asset owners and bondholders with institutional and onchain capital looking for real-world yield.
Reach new capital
Access treasuries, funds and eligible individual investors actively looking for credit exposure.
Fund faster
Tokenized notes settle in stablecoins, shortening the time between origination and funding.
A market for your paper
Your notes trade on the GBx order book with designated market makers, which makes them easier to buy and more attractive to hold.
Build a recurring channel
Repeat issuance programmes, not one-off deals.
See what backs every note.
What we publish
- Live market data
- Prices, trades and order book depth
- Portfolio reports
- Monthly
- Reserve attestations
- Every 24 hours
- Note documentation
- Available to verified investors
- Onchain supply
- Verifiable at any time on Arbitrum and Robinhood Chain
Full risk disclosures are included in each note's offering documents.