Space and Time (SXT), a Tier 1 data blockchain that powers onchain financial projects, has launched a virtual vault platform it says is purpose-built for institutional lending.
The Microsoft-backed blockchain said on Tuesday that its new virtual vaults can be configured by institutional lenders and borrowers according to their specific contract, with cryptographically verified, continuously updated visibility of borrower collateral across centralized exchanges and decentralized finance (DeFi) protocols where it actually resides.
Real-time collateral verification has long plagued the institutional lending sector, with generic solvency metrics falling short of practical needs.
“We’ve built space and time so that both institutions and onchain protocols can verify the data they operate on, and virtual vaults are the clearest expression of that yet. Institutional lenders need to see exactly what collateral is backing a loan, exactly when they need to see it,” said Nate Holiday, co-founder of Space and Time and CEO of MakeInfinite Labs, in a statement shared with Cointelegraph.
Screenshot of the SXT chain explanation. Source: YouTube
Each vault is configured according to the specific terms of its loan agreement, that is, which locations are monitored, which assets qualify as acceptable collateral and which thresholds trigger alerts, the statement said.
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Virtual vaults extend the platform to onchain credit, bringing the verifiable controls and reporting systems that institutional lenders and borrowers actually need to operate at scale, the company said.
Microsoft invested VC, then integrated SXT with the Fabric intelligent data platform
M12, Microsoft’s venture capital arm, participated in the Space and Time Series A funding round and led the strategic funding round in 2022, 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 spokesman declined to comment on current financing plans.
Space and Time was integrated with Microsoft Fabric a year ago, and recently marked as Microsoft’s shared cloud solution. The software giant touts Fabric as an end-to-end “intelligent data platform” that it has implemented in its cloud offerings.
Since then, the Foundation Space and Time joined together with Indomobil from Southeast Asia to engage 50,000 students in the ecosystem. That program uses space and time to store evidence of course completion, and students pay for courses in SXT.
Space and Time (SXT) market capitalization in the last 12 months. Source: Token terminal
The original blockchain token, SXT, is distributed across multiple chains, including Ethereum and Base. At the time of publication, CoinMarketCap data it showed that there are 368,350 token holders. SXT had a market capitalization of $21.92 million.
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