Rekord Vaults. Capital at work.

Stablecoin deposits and pledged crypto earn USD returns from a curated mix of real-world credit, uncorrelated to digital asset volatility.

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Trusted to verify what matters

RCM vaults on Ethereum.

Live and upcoming vaults operated by Rekord Capital Markets.

RCM · Rekord Capital Markets

Live on Ethereum Fully Allocated · View Only

9Summits Short Duration Institutional Credit

USDC

A USDC private credit strategy operated by RCM, with its NAV and positions verifiable on Ethereum.

Net APR 12.58% 15% fixed gross APR

On-Chain TVL $303,072 USDC 1.0080 USDC / share Snapshot Oct 23, 2026

Asset: USDC
Fees: 0% mgmt / 20% perf
Redemptions: Periodic NAV settlement

Short-duration institutional private credit curated by 9Summits
Multi-signature custody with segregated institutional settlement
Continuously verified on-chain NAV and portfolio records

View Vault on Lagoon Inquire for next tranche

On-chain verification

RCM · Rekord Capital Markets

Institutional Onboarding

RCM Insured Trade Receivables

USDC

Short-duration, credit-insured trade receivables, held in USDC.

Strategy Mandate

Short-Duration Trade Finance

Underlying / Currency: USDC
Credit Protection: Credit-insured commercial invoices
Target Tenor: 30–90 day revolving receivables
Allocation Status: Onboarding qualified counterparties

Short-duration commercial receivables backed by trade credit insurance
Diversified obligor exposure across verified corporate buyers
Continuous invoice-level underwriting and proof anchoring

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Terms confirmed at launch · Qualified counterparties

RCM · Rekord Capital Markets

Institutional Onboarding

RCM Digital Asset Credit Line

BTC / ETH Collateral

A USDC credit line against segregated, non-rehypothecated BTC or ETH collateral, deployed into RCM credit strategies.

Strategy Mandate

Non-Rehypothecated Credit Line

Pledged Collateral: BTC / ETH (segregated custody)
Credit Line Currency: USDC deployed into RCM vaults
Custody Guarantee: Zero rehypothecation · Segregated wallet
Allocation Status: Bespoke institutional mandates

Borrow USDC against BTC or ETH without moving or rehypothecating custody
Staked and locked validator positions remain active while pledged
Proceeds deploy directly into verified RCM private credit strategies

For Digital Asset Holders

Terms confirmed at launch · Qualified counterparties

For qualified counterparties only.

Who does what. Two entities, one stack.

Rekord Capital Markets (RCM) operates the vaults and credit strategies. Rekord AG, Zug, provides the underwriting and cryptographic proof technology: Rekord AI and Rekord Kloud.

Rekord Capital MarketsVault & capital strategy operator→ Rekord AGUnderwriting & proof technology provider→

Two ways in. One product.

Deposit stablecoins.

Bring USDC or USDT directly into a Vault for immediate exposure to the curated credit mix.

For Stablecoin Holders→

Pledge crypto.

Pledge BTC, ETH, or most other crypto without moving custody. A dollar credit line deploys into the same Vault.

For Digital Asset Holders→

What's inside a Vault.

Insured receivables

Short-duration receivables financing with credit insurance on the underlying.

Real-asset lending

Lending secured against tangible, income-producing assets.

Structured private credit

Diversified private credit, structured for institutional portfolios.

How a Vault compares to onchain yield.

Dimension	RCM real-world private credit vault (9SicUSDC)	Variable DeFi lending pools (Aave / Morpho)	Tokenized T-bills (SGOV / BUIDL)
Yield source	Real-world private credit: insured receivables, real-asset lending, and structured private credit.	Interest paid by onchain borrowers, priced by how much of the pool is borrowed.	Short-term US Treasury bills held by the fund.
Market correlation	Driven by real-world credit performance, uncorrelated to digital asset volatility.	Moves with onchain borrowing demand and the crypto cycle.	Tracks short-term US Treasury rates.
Custody / governance	Vault roles held by a 3/6 Safe with a Zodiac Roles policy; settlement through a Fordefi whitelisted wallet.	Protocol smart contracts, steered by protocol governance.	Fund administrator and transfer agent, under the issuer's fund structure.
Redemption mechanism	ERC-7540 asynchronous requests, settled at valuation updates.	Instant pool liquidity, subject to utilization.	T+0 / T+1 fund redemption, per the issuer's terms.
Verification surface	Rekord Kloud anchors collateral, cashflow, and strategy records, readable in the Proof Console.	Onchain pool state, readable by anyone.	Issuer attestations and fund reports.

How ERC-4626 and ERC-7540 vaults are built and curated: the institutional vault architecture guide.

From deposit to verified yield.

01 Deposit

Capital arrives

Stablecoins land in the Vault, or a pledged-crypto credit line opens against custody that never moves.

02 Underwrite

Every position is scored

Rekord AI underwrites each credit position and emits a cryptographic audit trail on every score.

03 Deploy

Capital goes to work

Funds flow into the curated mix of insured receivables, real-asset lending, and structured private credit.

04 Earn

Returns come back in dollars

USD-denominated returns, uncorrelated to digital asset volatility.

05 Verify

Proof at every step

Collateral, cashflow, and strategy records are anchored continuously, on the same surface auditors see.

See the full architecture behind each step: how Rekord works.

Legal protection. Cryptographic proof.

Dimension	Legal protection layer	Cryptographic verification layer
Who operates	Rekord Capital Markets (RCM), the vault and credit-strategy operator.	Rekord AG, the underwriting and proof technology provider.
What protects / proves it	Bankruptcy-remote SPVs with institutional-grade legal protections, perfected security interests, and qualified custody arrangements.	A Rekord AI score trail on every position, Rekord Kloud anchoring, and the read-only Proof Console.
Who can check	Qualified counterparties, through the capital markets desk.	Depositors, auditors, and regulators, through the Proof Console.
When	Set when each position is structured, and in force for its life.	Continuously, from deposit through redemption.

Built to be verified.

Every position is underwritten by Rekord AI and anchored by Rekord Kloud, so depositors, auditors, and regulators verify the same records as operators. Anyone authorized can check a position the moment they need to.

Rekord AIThe underwriting layer→ Rekord Kloud + Proof ConsoleThe proof layer→

Learn the fundamentals.

Plain-English guides from the Rekord Education Hub on the concepts behind this page.

All guides

MetaMorpho V2, ERC-4626 & ERC-7540 VaultsGuide What is a vault in DeFi, and its closest TradFi cousinCrypto and DeFi The Capital Cycle: from stablecoin deposit to RWA returnBig picture What is private credit? The $1.7T asset class explainedPrivate credit and RWA

Frequently asked questions

What is Rekord Vaults?

Rekord Vaults is the yield product, operated by Rekord Capital Markets (RCM). Stablecoin deposits and pledged crypto earn USD returns from a curated mix of insured receivables, real-asset lending, and structured private credit, uncorrelated to digital-asset volatility.

Who operates Rekord Vaults?

Rekord Capital Markets (RCM) operates the vaults and their credit strategies. Rekord AG, Zug, provides the technology underneath: Rekord AI underwrites each position and Rekord Kloud anchors the proof.

What's inside a Vault?

Three kinds of real-world credit: short-duration insured receivables, lending secured against tangible income-producing assets, and diversified structured private credit.

How do I get in?

Two ways: deposit USDC or USDT directly, or pledge BTC, ETH, or most other crypto without moving custody so a dollar credit line deploys into the same Vault.

Are returns tied to crypto markets?

No. Returns are USD-denominated and come from real-world credit, uncorrelated to digital-asset volatility.

How is a position verified?

Every position is underwritten by Rekord AI and anchored by Rekord Kloud, so collateral, cashflow, and strategy records are verifiable on the same surface auditors and regulators see.

Who can deposit?

Rekord is offered to qualified counterparties. Talk to the desk to confirm eligibility.

Put capital to work.

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