Real world assets · for business

Our solutions

What we tokenize, how an issuance works and the legal framework the platform operates in.

asset classes

Asset classes

Each type of asset gets its own valuation model and its own collateral structure. Below are the directions we work with.

Compute infrastructure

Working GPUs and compute capacity together with the contracts that rent them out. The oracle reads utilisation and equipment status directly from the site.

Collateral: equipment and rights under lease contracts

  • dual collateral
  • debt

Subscription revenue

Rights to the future cash flow of subscription-model companies. Contracted revenue is confirmed at the source.

Collateral: future cash flow

  • DFA
  • cash-flow

Contract receivables

Receivables and signed long-term agreements turned into a tradable instrument.

Collateral: contractual obligations

  • factoring
  • DFA

Equity stakes and success fees

Portfolios of stakes held by accelerators, funds and technology parks; rights to future success-fee payments.

Collateral: a portfolio of rights

  • equity-linked

Code and intellectual property

Licensing flows and rights to software products as a source of collateral.

Collateral: licence payments

  • IP
  • royalties

Physical assets in other industries

The same architecture moves beyond IT: energy, industrial equipment, sites with telemetry.

Collateral: equipment and telemetry

  • IoT
  • soon

every asset class gets its own valuation model and its own risk profile

issuer → investor

From issuer to investor

The path of an instrument takes six steps.

  1. 01

    Application and screening

    The company applies and discloses the composition of its assets. We determine what can be digitised and verified, and select the matching class of instrument.

  2. 02

    Connecting the data

    We connect the feeds that carry information on-chain from the company systems and from independent sources: banks, counterparties, site operators, registries.

  3. 03

    Valuation and structuring

    The valuation model matching the asset is applied. An issuer rating, a risk profile and the terms of the issue are formed: pool size, term, collateral structure.

  4. 04

    Issue

    The instrument is issued within the legal perimeter of the Republic of Kazakhstan, and later in other jurisdictions. All key terms and verified indicators are recorded on-chain.

  5. 05

    Placement and servicing

    Investors acquire fractions of the instrument. Payments and reporting follow a schedule, and the asset status is refreshed by the oracle close to real time.

  6. 06

    Secondary market

    A holder can exit the instrument before maturity through the secondary market implemented on our platform.

Example of an instrument card

demonstration data

Issuer · verifieddemo

Issuer 01

Compute infrastructure operator

Kazakhstan · operating since 2021

AM_IT_GPU_1.0 · methodology · on request

Verified profile
  • Average capacity utilisation · 92% over 12 months Site telemetry · direct integrationT1
  • Lease contracts · 6 active, 28 months average term Issuer contract registry · signed by both partiesT1
  • Account turnover · confirmed over 24 months Partner bankT1
  • Equipment on the balance sheet · independent valuation Valuation firm · reportT1
  • No outstanding tax liabilities State registryT1
  • Encumbrances on equipment Movable property pledge registryT1
  • Audited statements for two years AuditorT2

T1 — official data operator · T2 — organisation with a verifiable public registry · T3 — unconfirmed, excluded from the calculation

ISSUER · profile verified · metrics refreshed daily

Holdmark Rating

A−

issuer rating · AAA…C scale · assigned 08.2026

Data reliability
98%
Collateral coverage
1.8×
Payment coverage
1.6×
Collateral
  • Equipment → valued by an independent appraiser, encumbrance registered
  • Claims under the lease contracts → assigned in favour of the holders
  • Operating metrics → streamed by the oracle continuously; utilisation below the threshold triggers the issue

Instrument

Type
DFA · secured debt
Pool size
₸ 500 000 000
Term
36 months
Yield
19% per annum
Payments
quarterly, amortising
Minimum lot
₸ 100 000
Raised
₸ 312 400 000 · 62%
Status
Raising

Demo terms · not a public offer

Data flow
  • capacity utilisation
  • contracts
  • revenue
  • equipment condition
Utilisation and revenue
Capacity utilisation and revenue over 12 months; the dashed line marks the utilisation threshold below which the issue triggers.
091011120102030405060708
Utilisation88 %90 %89 %91 %93 %94 %92 %95 %93 %92 %94 %93 %
Revenue38 ₸ m39 ₸ m40 ₸ m41 ₸ m43 ₸ m44 ₸ m44 ₸ m46 ₸ m46 ₸ m47 ₸ m48 ₸ m49 ₸ m
Verification
  • source signatures
  • collateral valuation
  • last reconciliation: 6 hours ago

0x4a8e…f271 · issue contract

Organisations in the “source” field are named as typical issuers of records of that kind. A mention does not imply an existing partnership or integration.

sandbox

Regulation

Tokenisation only makes sense when the instrument is recognised as a right, not as a record in someone else’s database. For tokenised assets to trade freely they must be inseparably tied to the law in force where the asset is registered.

Perimeter

We work within the jurisdiction of the Republic of Kazakhstan. Instruments are structured as digital financial assets and secured corporate debt, within the applicable law and the regulatory sandbox regime of the National Bank.

Methodology

Asset valuation models are developed and agreed together with the regulator. Every issue is supervised within the sandbox: the investor gets a clear status for the instrument, the issuer a legitimate financing channel.

Compliance infrastructure

Investor identification is carried out by a licensed KYC provider, settlement runs through a licensed partner bank, custody and distribution through organised-market infrastructure. The platform does not hold client funds.

What Holdmark is not

not a bank and not a credit institution

does not guarantee returns and does not give investment advice

does not issue or promote cryptocurrencies

the contents of this site are not a public offer

Learn more about our business solutions

Our team is ready to walk you through our tokenization products in detail and discuss which of them best fits your needs.

Contact us