Securitize's Neuberger Berman High Income Tokenized Fund—ticker HINC—went live as accepted collateral on Loopscale as of Sept. 1, 2026, letting eligible holders borrow USDG, the Paxos-issued stablecoin, against their shares at fixed rates without redeeming the underlying position. HINC is the first sub-investment-grade credit product to enter an on-chain lending market that has until now accepted almost exclusively Treasuries, government money-market funds and investment-grade pa. HINC launched Aug. 18, 2026, sub-advised by Neuberger Berman, which manages more than $230 billion in fixed-income assets. The fund's primary allocation is high-yield corporate bonds supplemented by CLO tranches capped at 30 percent, bank loans and other yield-generating fixed-income instruments. Minimum investment is $100,000, the management fee is 0.50 percent, and participation is limited to accredited investors.
Pricing flows on-chain through RedStone oracles, which deliver daily net asset value updates so Loopscale's protocol and its users can see collateral value in near-real time. Because HINC holds a basket of bonds whose price moves with credit spreads rather than tracking a liquid spot market, the protocol has no liquid reference price to fall back on. RedStone's oracle integration is what makes the collateral legible to the lending engine.
Loopscale's architecture handles the integration through an order-book model that values each collateral asset individually, unlike pool-based lending protocols that use a shared liquidity bucket and price all collateral with a common formula. That design handles idiosyncratic collateral—illiquid bond baskets, tokenized equity, private credit funds—in a way a standard automated market maker lending pool cannot. The protocol currently holds between $91 million and $127 million in total value locked, with active loans outstanding between $48 million and $56 million.
HINC is the third Securitize product Loopscale has integrated. ACRED, the Apollo tokenized credit fund, was first. SECZ, Securitize's NYSE-listed tokenized equity, followed. Adding HINC pushes the collateral set further down the credit-quality curve than either predecessor—Apollo's ACRED holds broadly syndicated leveraged credit, while HINC's explicit focus is high-yield and CLO exposure.
Fund shares are issued as permissioned tokens held in verified wallets, a design that keeps the asset on public blockchain rails while satisfying compliance requirements for accredited investors. Transfers are gated; only wallets that have passed Securitize's verification can hold or pledge HINC tokens. The borrow output, USDG, is a permissionless stablecoin, so borrowers who draw against their HINC position can deploy those proceeds into any part of DeFi that accepts it.
The liquidity problem HINC solves on-chain mirrors one that exists in traditional markets. A portfolio manager holding high-yield bonds who needs short-term liquidity typically faces two options: sell into a thin, wide-spread market or negotiate a repo agreement with a prime broker. On Loopscale, the mechanics collapse to a collateral deposit followed by a fixed-rate draw in USDG—no negotiation, no bilateral exposure to counterparty credit risk, no forced exit from the position.
Securitize reported $14.4 million in revenue for the second quarter of 2026, down 5 percent year-over-year and below the analyst estimate of $20.6 million. Tokenization revenues fell 12 percent year-over-year in the same period. Expanding HINC's utility through lending integrations directly addresses that pressure by making tokenized fund shares more attractive to hold—collateralizability is a form of liquidity that pure redemption-based funds cannot offer.
The fund is available across Avalanche, Ethereum, Solana and Sui, but the Loopscale collateral integration runs on Solana specifically. Solana's transaction throughput and fee structure make frequent collateral adjustments and NAV updates cheaper to execute than on Ethereum mainnet, where gas costs on active loan positions can erode yield-spread advantages.
