Fintech companies RockTop Technologies and Liquidify on Thursday announced a milestone in their business partnership that was formed earlier this year.
RockTop is a solutions-as-a-service company committed to enhancing yields for institutional investors, asset managers and other participants in the fixed income and mortgage markets, and currently has over $60 billion in unpaid principal balances (UPB) on its data management platform.
At the same time, LiquidFi, an asset tokenization platform for mortgage investors, used its patented technology to create digital assets for over $7.7 billion in UPB.
“The two companies are working together to realize the vision of a fixed income market that functions as a transparent and seamless exchange where assets are accurately priced, easy to trade, and investors have easy access to fractional shares,” the joint statement explained.
LiquidFi uses blockchain technology, a secure, immutable digital ledger, to quickly verify data for Rocktop's institutional investors and asset management clients. The companies say this is particularly useful in “the current volatile market” as it shortens deal timelines, streamlines the due diligence process and provides “instant settlement.” Investors can gain further insight into their portfolio performance at a lower cost.
Brett Benson, co-president and chief investment officer at RockTop, said in a statement that the firm’s goal is to ensure that every digital asset is a “known quantity” with an optimized value.
“Our partnership with LiquidFi will advance our value proposition for all fixed income investors, including performing and distressed mortgage portfolios, residential transition loans (RTL), private student loans and unsecured debt portfolios,” Benson said.
“We value RockTop's shared commitment to transparency, efficiency and innovation,” said Ian Ferreira, founder and CEO of LiquidFI. “RockTop's deep understanding of capital markets and loan-level management expertise will enable our technology to further benefit clients through efficiency.”