Space and Time (SXT), a Level 1 data blockchain that secures on-chain financial projects, has launched a virtual vault platform purpose-built for institutional lending.
The Microsoft-backed blockchain announced Tuesday that its new virtual vault can be set up by institutional lenders and borrowers based on specific agreements, and features cryptographically verified and continuously updated visibility of borrowers’ collateral across real-world centralized exchanges and decentralized finance (DeFi) protocols.
Real-time verification of collateral has long plagued the institutional lending sector, with common solvency metrics not meeting real-world needs.
“We built Space and Time to allow both institutions and on-chain protocols to verify the data they act on. Virtual Vaults is the clearest expression to date. Institutional investors need to see the collateral backing their loans, exactly when they need it,” Space and Time co-founder and MakeInfinite Labs CEO Nate Holliday said in a statement shared with Cointelegraph.
SXT chain screenshot description. sauce: YouTube
Each vault is configured to the specific terms of its lending agreement, including which venues are monitored, which assets qualify as eligible collateral, and what thresholds trigger alerts, the statement said.
The virtual vault extends the platform to on-chain credit, providing verifiable controls and reporting for systems that institutional lenders and borrowers actually need to operate at scale, the company said.
Microsoft makes VC investment and integrates SXT with Fabric intelligent data platform
Microsoft’s venture capital arm M12 participated in Space and Time’s Series A funding round and led its 2022 strategic funding round, according to Token Terminal data.
SXT’s latest round in August 2024 raised $20 million from investors including Lightspeed Faction and Arrington Capital, bringing the total to $50 million. A company spokesperson declined to comment on the company’s current financial plans.
Space and Time integrated with Microsoft Fabric a year ago and was recently named a co-sold cloud solution by Microsoft. The software giant touts Fabric as an end-to-end “intelligent data platform” that it deploys across its cloud offerings.
Since then, Space and Time Foundation has partnered with Indomobile in Southeast Asia to welcome 50,000 students into its ecosystem. The program uses space and time to store proof of course completion, and students pay for the course in SXT.
Space and Time (SXT) market capitalization over the past 12 months. sauce: token terminal
The blockchain’s native token, SXT, is deployed on multiple chains including Ethereum and Base. At the time of publication, there were 368,350 token holders, according to CoinMarketCap data. SXT’s market capitalization was $21.92 million.
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