Space and Time introduces virtual vault solution for enterprise-level blockchain lending
The data-focused blockchain platform supporting onchain financial services unveils a customizable collateral management system for institutional lenders and borrowers.
Space and Time (SXT), a layer-1 blockchain focused on data that provides security for onchain finance initiatives, has unveiled a virtual vault solution that the company claims is specifically designed for institutional-grade lending operations.
According to an announcement made Tuesday, the Microsoft-supported blockchain's newly introduced virtual vaults offer customization options for institutional lenders and borrowers based on their unique agreement parameters, delivering cryptographically authenticated and continuously refreshed transparency into borrower collateral across both centralized exchanges and decentralized finance (DeFi) protocols where the assets are actually held.
The institutional lending industry has struggled for years with real-time collateral verification challenges, as broad solvency measurements have proven inadequate for addressing practical operational requirements.
We built Space and Time so both institutions and onchain protocols could verify the data they act on, and Virtual Vaults are the clearest expression of that yet. Institutional lenders need to see exactly what collateral backs a loan, exactly when they need to see it.
Nate Holiday, co-founder of Space and Time and CEO of MakeInfinite Labs
According to the company's statement, every vault can be tailored to match the particular parameters of its corresponding lending agreement, including which platforms to track, which digital assets are accepted as valid collateral, and what threshold levels activate notifications.
The company explained that virtual vaults expand the platform's capabilities into the realm of onchain credit, delivering authenticated oversight and documentation to the infrastructure that institutional lenders and borrowers require for large-scale operations.
Microsoft made VC investment, then integrated SXT with Fabric intelligent data platform
According to data from Token Terminal, M12, the venture capital division of Microsoft, took part in Space and Time's Series A financing round and served as the lead investor in a strategic funding round conducted in 2022.
The most recent funding round for SXT took place in August 2024, securing $20 million from backers such as Lightspeed Faction and Arrington Capital, pushing the cumulative total to $50 million. A representative for the company chose not to provide details regarding current fundraising initiatives.
Integration with Microsoft Fabric occurred for Space and Time approximately one year ago, and the platform recently received designation as a Microsoft co-selling cloud solution. Microsoft promotes Fabric as a comprehensive "intelligent data platform" spanning from end-to-end that has been implemented throughout its cloud service portfolio.
Following that milestone, the Space and Time Foundation established a collaboration with Indomobil, based in Southeast Asia, to bring 50,000 students into the ecosystem. This educational program leverages Space and Time for storing verification of course completion, with students making course payments in SXT.
SXT, the blockchain's native token, has been deployed across several blockchain networks, including Ethereum and Base. According to CoinMarketCap data at the time of publication, the total number of token holders stood at 368,350. The market cap for SXT was recorded at $21.92 million.