Tenka
Liquidity engine for asset-based finance
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Tenka 소개
Tenka targets asset-backed private credit, putting loan origination, allocation and secondary transfer into one market structure so investors can exit before maturity. It addresses private credit's persistent liquidity problem: capital is locked until repayment and originators cannot recycle it.
The mechanism standardizes each facility across structure, data and valuation, with net asset value published weekly by an independent valuer and collateral and repayment data recorded onchain through a third party. Products split into a diversified senior vault (tkUSD) and single-deal Deal Vaults, with transfers matched around the latest NAV and settled in fifteen-minute batches. The platform is not yet generally open, redemptions can be gated under stress, and liquidity still depends on buy-side capital.
2026년 9월 11일, Tenka는 관리자 승인 주간 NAV, Deal Vaults, tkUSD가 포함된 Senior Vault, 사전 거래 할당 및 허가된 2차 거래를 포함하는 5개 구성 요소 프레임워크에 대한 작업 문서를 발표했습니다.
2026년 9월 17일, Tenka는 Gami Capital 및 엔젤 투자자들의 참여로 Maven 11이 주도하는 프리 시드 라운드를 마감하여 자산 담보 금융을 위한 시장 인프라를 구축했습니다.
2026년 10월 21일, Tenka는 Senior Vault 및 선택된 Deal Vaults에서 구독 및 상환을 위해 AUSD를 통합하기 위한 Agora와의 파트너십을 발표했습니다.
2026년 10월 28일, Tenka는 매칭 엔진, 오라클, KYC 계약, Deal Vaults 및 메인넷 배포 스크립트를 포함하는 yAudit 스마트 계약 감사를 완료했으며, 심각하거나 높은 문제는 없었고 모든 중간 및 낮은 문제는 해결되었습니다.
Tenka is a liquidity engine for asset-backed finance, founded in 2025, building a shared market layer that connects originators, investors and dedicated liquidity providers in a single institutional marketplace. The pain point is specific: financing assets such as invoices, trade receivables and equipment leases depends on manual processes and siloed banking systems, while on-chain RWA investments are typically locked until maturity. Tenka standardises each facility across structure, data and valuation so that capital can enter at origination and exit before maturity through on-chain infrastructure.
On product, investors have two routes. The tkUSD Senior Vault offers diversified senior-secured private credit exposure for passive capital that does not want to underwrite deals one by one. Deal Vaults let investors pick individual transactions. In other words Tenka is neither the lender nor a stablecoin issuer; it is a market infrastructure layer that makes asset-backed credit priceable and transferable. On team, Emile Dubie is co-founder, Charlie Milsom serves as COO and CLO, and Antoine Vales leads BD, product and integration. On funding, it announced a $2 million pre-seed on September 17, 2026, led by Maven 11 with participation from Gami Capital and a group of strategic angels.
Future strategy and roadmap: near term is completing the core protocol, onboarding the first institutional credit originators and launching initial liquidity pools; medium term is building an off-chain data verification, or oracle, framework to guarantee collateral integrity, and bringing multiple originators and asset classes into the standardised structure. The risk is that this is very early: a pre-seed-sized round implies thin team and compliance capacity, while the hardest part of asset-backed finance is precisely off-chain legal enforceability and default recovery, which on-chain standardisation cannot replace. The RWA track also already has incumbents such as Maple and Centrifuge holding institutional relationships, and Tenka's position as a liquidity layer depends on upstream originators accepting its standardisation constraints.
CEO Emile Dubie previously co-founded and led the self-custody wallet XDEFI, ran the GemFair project at De Beers, co-founded treehouse, and worked as a market specialist at Thomson Reuters and a product manager at Bloomberg, so he knows both trading workflow and compliance.
The team spans structured credit, securitisation and onchain settlement.
Tenka charges a liquidity fee on every secondary-market trade equal to the greater of 0.10% of notional or 10% of the spread to NAV, with the remaining spread accruing to the liquidity provider, and matches orders against the latest published NAV with settlement in 15-minute batches.