“I was the CEO of a FinTech company that had developed a cloud-based loan origination system for small and mid-size financial institutions. From our customers I learned that periodically these institutions would do an assessment of their loan portfolio and buy or sell loan pools to reduce risk and/or increase profitability.
Much of this trading is done through other financial institutions that act as brokers or market makers. The process is manual with a lot of messaging and documents shared via email.
This was also the time when blockchain technology was gaining visibility…albeit mainly in the cryptocurrency area.
I put two thoughts together – trading of financial assets such as loan pools and the use of blockchain technology – and brainstormed ideas with a small team…and from that was born the idea of Permissioned Networks.
We sold the loan origination system company to a larger FinTech that was growing in the online banking software space.
And we went to many of our previous customers to test the concept of a protected and secure trading platform for loan pools. We found considerable interest especially if it could create a large marketplace that allows price and asset discovery and reduces the cost and time to complete a transaction.
So that is what we set out to build.
Along the way we found that the platform we were building (and have since completed the first version of) can also be used for the secure trading of other financial instruments as well as commodities such as metals, fuels, etc. In fact, we can set up a custom trading platform for any asset that can have a digital representation….including NFTs!
The Permissioned Networks team is comprised of veterans of the startup, technology, and blockchain worlds. We are dedicated to providing platforms that reduce friction in business processes.”
– Tejas Vakil, Founder and CEO
Digital Asset Trading Exchange
Commodity Trading Exchange
© Permissioned Networks, Inc. 2022