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March 01, 2019  

Token Program Taking Shape

In a potential precursor to securitization, a New York startup is offering short-term financing to specialty lenders in the form of digital tokens.Cadence currently acts as something of a middleman, arranging funding from investors that buy its tokens online. But it eventually could use a warehouse line to accumulate its own portfolio and bundle the instruments into asset-backed bond pools.Another possibility would be to offer tokens in tranched...

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