Cross River, the bank, and blockchain developer Offchain have completed a proof of concept for tokenizing loans at the point of origination. They plan to build tokenization into loan funding, ownership transfer, payments and servicing, with production deployment targeted for early 2027.
According to Cross River's Nov. 3 announcement, the bank remains lender of record and keeps its underwriting, risk and compliance standards, and borrowers will see no change to their applications, funding or repayment. Offchain Enterprise Services will supply engineers, the loans can be funded, held and transferred on Arbitrum One, and ZeroDev provides the embedded wallets.
The companies did not disclose loan volumes, principal, investors or contract value. The work is bank-credit infrastructure rather than trade finance, and it remains at the proof-of-concept stage.