Pencil Finance completes $1M onchain lending cycle for 6.6K students in Southeast Asia
Pencil Finance completed a $1 million fully onchain student loan cycle, using blockchain-based real-world assets to finance students in Southeast Asia. The capital was deployed in July 2025 and repaid to funders with yield. The bundle included a senior tranche with fixed returns and a junior tranche with variable returns and first-loss risk, backed by Animoca Brands, Open Campus, and New Campus. The financing reached about 6,600 students across 118 schools and universities, with roughly 1,050 receiving direct funding. Pencil says the loans targeted students underserved by traditional lenders, with 50% female borrowers and 93% from lower-income households. The company describes this as the first fully onchain student loan lending cycle recorded transparently on the blockchain.
