PlatformD is the infrastructure that turns verified real-world assets into compliant digital securities – originated, issued and settled onchain. The first asset class is trade invoices, where new e-invoicing mandates and agentic treasury systems are turning every transaction into verifiable collateral at scale.
Most onchain issuance infrastructure is an empty venue – it waits for issuers to arrive. PlatformD is built the other way round: it originates its own real-world asset, the verified trade invoice. That matters because invoices are one of the world’s largest financing markets, and the one regulation is reshaping fastest – as e-invoicing mandates spread, every invoice becomes structured, signed and verifiable at source, exactly the clean, authenticated data an issuance system needs. The infrastructure does not wait for demand to find it; it generates supply from a market being standardised into collateral.
PlatformD is a full-stack Financial Market Infrastructure (FMI), not an application sitting on someone else’s rails. It originates, issues and settles in one system – and because it built that infrastructure rather than renting it from intermediaries, it can rebuild the cost structure of a market that was slow and expensive. That control is what makes investment-grade issuance work onchain, and what allows the same machine to extend from invoices to other real-world assets – bonds, asset-backed securities, CLOs and, in time, equity – composable with onchain infrastructure such as vaults.
The old way manufactures trust through intermediaries and opacity: pool the assets, tranche the risk, and ask investors to take the quality on faith. PlatformD does the opposite – it proves each asset is real, owned and creditworthy at the point of origination, and keeps proving it in real time. Verifiable trust, that anyone can price. It is the principle behind everything PlatformD issues – proven first on invoices and built for every asset that follows.
Here is how one invoice moves through PlatformD – from the moment it is issued to the moment it is repaid. The figures are illustrative.
A supplier is owed $500,000 by a large, investment-grade buyer, due in 90 days. Instead of waiting, the supplier is paid today – and an investor holds a single, credit-enhanced security until the buyer pays.
The supplier issues an electronic invoice, cryptographically signed at source under EU digital-signature standards (eIDAS). This creates a verifiable golden source – the invoice can be carried over from an existing e-invoicing provider or created on PlatformD directly – or submitted on the supplier’s behalf by its AP, AR or treasury agent through PlatformD’s agent interface. The signature at source is the same whichever route it takes.
The buyer confirms it owes $500,000, due in 90 days. That confirmation is its only action and it too is cryptographically signed. Only invoices owed by qualifying buyers pass this gate.
Once both parties have confirmed, PlatformD issues a verifiable credential – disclosing only the fields required, for privacy – and notarises the invoice as an asset on Dchain.
PlatformD prices the invoice at a transparent rate, set by an algorithmic yield curve that moves with economic data rather than bid-and-ask. Supplier and investor are price-takers: each accepts the prevailing rate, the way a treasurer takes the day’s money-market rate rather than negotiating it. The investor buys the security at a discount to face value – paying around $493,000 – and is repaid the full $500,000 at maturity. That $7,000 is their return. Figures illustrative.
When the invoice is sold, a bankruptcy-remote Digital SPV issues a digital security representing the receivable – credit-enhanced by a transparent onchain reserve, the Assurance Reserve Trust, which absorbs first loss. The security is issued natively onchain and distributed directly to the investor. Regulated stablecoin moves from the investor to the supplier at the same moment. The supplier is paid. No factoring intermediary sits in between.
At 90 days, the buyer pays the $500,000 as it always would. The security redeems, and the investor receives principal plus yield. Because the buyer paid on time, the financing has cost it nothing.
A supplier is paid today, at their buyer’s capital-market rate rather than their own. An investor holds a single-obligor, credit-enhanced digital security and is repaid at maturity. Originated, issued and settled onchain, end to end.
Because the security is EVM-compatible and IBC-enabled, an investor can hold it, post it as collateral, or move it across chains – yield that lives natively onchain, rather than a claim wrapped on top of legacy infrastructure.
The first asset on the infrastructure is the trade invoice – and it brings three parties together. Each invoice becomes a digital security carrying the credit of a single named obligor: suppliers sell on a 24/7 marketplace and are paid at once, buyers confirm what they already owe, and investors access a new asset class onchain.
Asset managers, treasurers, institutional investors
A new short-duration asset class providing onchain yield, built from verified trade invoices. Each security carries the credit of a single named obligor – not a pool, not a tranche – selected upstream for investment-grade quality, credit-enhanced by a transparent onchain reserve and structured to carry an official credit rating from a major agency.
SME suppliers, manufacturers, service providers
PlatformD turns your confirmed invoices into cash at once – at a rate that reflects your customer’s creditworthiness, not yours. Working capital freed the day you invoice, instead of in 30, 60 or 90 days. No debt. No recourse. No bank in the middle.
Corporate buyers, large enterprises, procurement teams
Traditional supply chain finance reaches only your largest suppliers, and ties up banking capacity to do it. PlatformD extends financing to every supplier in your network – funded by institutional investors, at zero cost to you. Your only action is to confirm an invoice you already owe: no new debt, no change to terms, no balance-sheet impact.
Your agents can do this for you.
A supplier’s AR agent, a buyer’s AP agent or a treasury management system can originate, confirm and track invoices on PlatformD directly – the same workflow, driven by the software you already run.
How agents integratePlatformD originates the asset; it does not need to own the workflow. Whether an invoice is issued through an existing e-invoicing provider, created on the platform, or raised, confirmed and chased by the AI agents inside a finance team’s AP, AR or treasury systems, it is signed at source, confirmed by the buyer and notarised on Dchain the same way. The agent is the customer’s; the rail is ours.
The invoice is carried over from the supplier’s existing e-invoicing channel, already structured and cryptographically signed at source under eIDAS. Nothing changes in how the supplier invoices today.
The supplier creates the invoice on the platform, or uploads the document, and signs it there. The buyer confirms it with a single, signed action.
An AP, AR or treasury agent acting for the supplier or the buyer creates, submits, confirms and tracks the invoice through PlatformD’s agent interface, and signs within a mandate the company’s legal representative has granted. Early access with design partners.
See how agents integrate · and why agents need identity and delegation
PlatformD is being brought to market through the UK’s Digital Securities Sandbox – the supervised path to live production. That means the milestones below are real and sequenced, with the regulator in the room at each stage.
The platform is in testnet, running a non-transactional pilot of the full origination-to-settlement flow with institutional participants – an investment-grade invoice buyer, a public European banking group, a major rating agency and global institutional investors. This proves the mechanism end to end ahead of live issuance. The current testnet is Theodoric-II, Dchain’s second testnet.
Live transacting of digital securities begins once the Bank of England confirms the next sandbox gate, which PlatformD is targeting for early 2027. Until then, all platform data shown is simulated, for demonstration.