Coming soon. PSP Prefunding is in design as a product of the Shared Collateral Network. The structure below is the planned shape; parameters, limits and partners publish at launch.
Float Is the Real Cost of a Corridor
A remittance that lands in seconds is funded by money that is still travelling. The sender’s bank transfer can take a day or a week to clear, and the payout cannot wait for it. So every PSP keeps a float on the far side of each corridor - with each payout partner, in each currency - sized for its busiest day and idle the rest of the time. Corridor growth turns into a capital problem before it is a demand problem.Advance Against the Inbound Transfer
PSP Prefunding turns that float into a draw: opened when a payout is due, closed by the transfer that funds it.- One advance, one inbound transfer - each advance references a transfer the customer has already initiated, or a payout partner’s approved funding request, and is settled out of that transfer when it clears - usually within days.
- Proof first, then capital - the transfer is checked against the bank’s own status before anything is released: it exists, it fits the corridor’s rules, it matches the advance, and nobody has financed it already. The proof travels with the draw.
- The collections are the collateral - advances go to a ring-fenced vehicle per originator, and the vault holds security over that vehicle’s incoming collections - not an unsecured claim on a payments company.
- Native when the payout trades on TetraFi - when the fiat-to-stablecoin conversion runs through TetraFi’s RFQ, the transfer, the trade and the advance share one settlement record.
A Network of Originators, Sized by Track Record
Payment demand is lumpy: one originator’s corridors are busy this month and quiet the next. Pooling many originators in one vault keeps capital moving to wherever transfers are waiting, and the corridors, currencies and payout partners behind them spread the risk.- Lines grow with performance - a new originator starts with a small line that widens only after advances come back on time and reconcile cleanly, and no originator can take more than a capped slice of the vault.
- Waiting transfers come first - when demand outruns capital, originators with verified transfers ready and acceptable pricing are served before the rest, and returned capital goes back to the pool to be allocated again.
- A return floor above cash - an advance goes out only when its expected return, net of losses and costs, sits clearly above what the reserve already earns; otherwise the capital stays liquid.
- Stops on its own - a missed repayment, a gap in reporting or a reconciliation mismatch halts new advances to that originator at once.
Exits Come First
- The reserve is set aside before advances - capital needed for near-term withdrawals stays liquid; only the rest can be advanced.
- Short paper repays fast - beyond the reserve, withdrawals are met from advances that mature within days, and repayments serve withdrawals before they fund anything new.
- Strict order - withdrawal requests are served first in, first out, so no large holder steps ahead of a small one.
An Open Record
Every advance and every repayment is a transaction against allowlisted contracts, the vault’s holdings are readable at any moment, and its NAV updates daily. The vault share is a standard tokenized-vault position that lending markets can choose to accept as collateral.How It Differs From Venue Prefunding
Venue Prefunding answers another question: how a desk trades across many CEX and OTC venues without leaving a balance idle at each one. Those draws are secured by the venue balance they fund and by custodial enforcement - there is no customer transfer behind them. PSP Prefunding is the tighter case: every advance is matched to a specific payment already on its way.The Network
One capital base under all five products.
Register Interest
Running corridor floats today, or financing PSPs? Tell us where your transfers come from.