On the 13th of September 2023, Maurice Tracey alongside Black Manta Capital Partners, presented Defactor Labs's innovative tokenised products and on-chain securitisation solution to an audience CMS DeBacker.
2. ● Significant background in
investment banking at Goldman
● Extensive experience in institutional
equities and derivatives trading
● Blockchain & DevOps expert.
● Strong TradFi background in investment
banking at Morgan Stanley and
● Entrepreneurial and advisory expertise
successfully translated into DeFi space
● 25+ years senior leadership experience in
international banking at Santander bank
● Deep expertise in building and managing
cashflow finance business units
● Extensive supply chain executive
management & finance expertise
● Early adopter of RWAs in DeFi
● Working partnership with market
leaders - Maker & Centrifuge
Experienced team with a diverse & proven
Chief Operating Officer
Chief Executive Officer
Chief Commercial Officer
Head of Growth
● 23+ years experience in tech and
● Previously CTO of Forbes FinTech 50
listed global supply chain and trade
3. Business Model - Bridging Access to DeFi
Bringing RWAs on chain releasing untapped value and liquidity
Asset represented by NFT
NFT locked in smart contract
secured by blockchain
Invest per risk appetite
Transparency on underlying
Full risk reporting dashboard
Customers of AOs
Pool of Assets
Borrow at X%
4. The growth opportunity in DeFi is huge
*Source: Wharton, University of Penn, Cointelegraph News, DeFi
Global Trade Finance funding gap widens to USD$2.0t*
● Banks archaic IT mainframe systems with
restrictive business models.
● Restrictive and outdated risk appetite.
● Capital Constraints limits funding SME’S .
Digital assets locked in DeFi services only c.$300 USD*
● Opportunity for FinTechs to access new sources
of DeFi liquidity.
● Democratising access to financing.
Funding Business Case | Massive DeFi Potential
● FinTechs leverage new tech / smart tech solutions
● Fintechs with proven track record and internal processes.
● Ability to earn attractive margins through innovation
Total Addressable Market
5. *Source: Trading Economics Cointelegraph News, DeFi
Total market size tokenized U.S. TB’s $650m
● Decreasing DeFi rates due to lower credit demand
● TradFi interest rate cycle
● Conditions continue per 2 year rate forecast
● On chain funds seeking safe, yield earning assets .
Tokenization unlocking access to on-chain capital
● Opportunity for on-chain capital to access U.S.
TB yield without off-ramping.
● Offshore U.S. entities streamlined access.
T-Bill Business Case | Massive DeFi Potential
● DAO Treasuries & On-Chain Capital.
● Institutional capital deployment.
U.S. 3m prevailing Treasury Bill Yield (as a %)
U.S Treasury Bill’s 3 Month Yield
2018 2019 2020 2021 2022 2023
6. Defactor Unique DeFi
Luxembourgish Securitization Solution
Providing Investors with a secure legally compliant entry to DeFi funding
Why a Tokenized Bond?
Soft entry for Investors into DeFi,
retain the benefits of a traditional
Why Luxembourg Model?
Market standard & established
Flexible and robust legal
environment Facilitates secondary trading
Permits fractionalisation for the
Defactor Finance Luxembourg S.a.r.l.
Investment Investment Investment
Tokenised Bond Tokenised Bond Tokenised Bond
Investors per compartment
Defactor Finance Lux. S.a.r.l.
Enhanced 24/7 liquidity without
Transparency and increased
investor confidence with
● Multiple asset classes
● Segregation - no spill over
● Liquidation by compartment
7. Minimum investment of $100K
Deployed to finance receivables & trade finance
12 months committed funding
10% target annual percentage yield
Interest paid half yearly (capital return on maturity)
90 days notice prior to maturity date
$100m Issuance to
12 Month Fixed Income Bond, 10% APY, underlying assets trade finance & receivables
Compartment A : DEFACTOR ALPHA SERIES
8. Compartment B : BILLY Bond
Tokenized Investment Product - meeting On Chain demand for legally compliant investment products
Minimum ticket size $100k USD
Tokenized Treasury Bills
Deployed to purchase 3m T-Bills
3 Month term with rollover option
Linked directly to 3m US TB rate at date of
Full capital and interest payout on maturity
5 day redemption notification required prior to
investment maturity with 3 day redemption process
BILLY uses the same
structure, and BaFin