RWA Credit Line

Holders of tokenized treasuries, money-market funds, and private credit need cash without exiting the asset. Selling the position drops the yield and can create a taxable event or a bad price.

A credit protocol where users borrow USDC against tokenized real-world assets. BENJI or another treasury RWA is deposited as collateral, valued by an oracle, and locked in a Soroban vault that opens a USDC credit line.

Stellar’s RWA set has grown quickly. Centrifuge is bringing tokenized Treasury and private-credit assets into Stellar DeFi, including use with Blend and DeFindex.

A treasurer holds tokenized T-bills and needs operating cash for two weeks. They deposit the RWA, borrow USDC up to a collateral ratio, and repay to unlock the position. The asset can keep accruing yield while it secures the loan.

1. 01

   Deposit an RWA / SAC asset

2. 02

   Oracle prices the collateral

3. 03

   Soroban vault locks the position

4. 04

   Borrow USDC against a collateral ratio

5. 05

   Interest accrues

6. 06

   Repay and withdraw, or liquidate if unhealthy

• Accept one allowlisted RWA or SAC as collateral.
• Read a price and compute collateral value plus a max borrow.
• Mint or transfer a USDC credit line to the borrower.
• Accrue interest and accept repayment.
• Release collateral after the debt is cleared.
• Liquidate under-collateralized positions.
• Show health factor, LTV, and debt on a simple risk dashboard.

• Vault

  Holds collateral, tracks debt, and gates withdraw.

• Oracle adapter

  Normalizes the RWA price into collateral value.

• Credit line

  Sets collateral ratios, interest, and borrow limits.

• Liquidation

  Seizes unhealthy collateral and repays the debt.

• SAC tokens for the RWA and USDC
• Soroban authorization for deposit, borrow, and repay
• Onchain collateral ratios
• Composable calls into Blend

• Centrifuge RWA tokens
• Blend
• DeFindex
• A Stellar price oracle
• USDC

1. 01

   Asset + vault

   Allowlist one SAC collateral token and a vault that can lock and return it.

2. 02

   Value + borrow

   Oracle read, LTV check, and a USDC borrow against the locked balance.

3. 03

   Interest + repay

   Accrue interest and clear debt before collateral can leave.

4. 04

   Liquidation

   A keeper path that closes positions below the health threshold.

5. 05

   Risk dashboard

   Health factor, debt, and collateral value in a demo UI.

• Let the collateral keep earning RWA yield while it secures the loan.
• Route surplus collateral into Blend or DeFindex instead of sitting idle.

• Stellar Asset Contract
• Soroban docs
• Blend
• DeFindex