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By lend.xyz
Lend brings tokenized real estate bonds on-chain. Each bond is structured through its own SPV under French law and issued with regulated DIS documentation. The return comes from the real estate asset and the operation behind it, not from crypto prices. Investors deploy stablecoins into professionally structured operations and receive weekly yield distributions on-chain.
The protocol covers the full cycle: tokenized asset issuance via the Factory contract, compliant subscriptions gated by KYC verification, on-chain yield distribution, and secondary market composability. Each position is priced through Reflector, Stellar's native oracle, so it stays transparent and verifiable.
What is already built on Stellar
The core protocol is developed and deployed. The Soroban smart contracts (Factory + OpLend token, SEP-41 compliant) are open-source and verifiable on GitHub. The Factory manages the full lifecycle of operations: creation, subscription with backend signature verification, OpLend token claims, cancellation/refunds, and conditional withdrawal of raised funds. A backend event indexer monitors Soroban RPC and Horizon, reconstructs protocol state off-chain, and exposes a REST API consumed by the frontend. The Reflector oracle adapter provides live EUR/USDC conversion. Cross-chain liquidity from EVM chains flows into Stellar-native operations via Allbridge, and crypto-native investors connect through Stellar Wallets Kit.
What this integration builds: Web2.5 onboarding
The barrier that keeps traditional real estate investors off-chain is not the asset. It is the wallet, the KYC and the fiat rails. This integration builds the layer that removes it. A non-crypto investor signs up with email or social login and gets a Stellar wallet created invisibly (Privy), verifies their identity once (SumSub), and deposits euros by bank transfer or card. The fiat conversion is handled by integrated ramps: Bridge for SEPA, Mercuryo for cards, alfredpay for LATAM. EURC is available for a euro-denominated path with no FX risk, settling 1:1 against the operation's EUR share price with no oracle call. The investor never touches a seed phrase, never needs to hold XLM (network fees are sponsored via fee-bump transactions), and can withdraw back to their bank via the off-ramp.
The primary interface is a native mobile app (Flutter, iOS + Android), embedding the Privy and SumSub SDKs natively for a seamless onboarding experience. Push notifications alert investors on yield deposits, investment confirmations and operation events. Biometric signing provides a second factor for transaction approval. Crypto-native investors keep their existing flow through Stellar Wallets Kit.
Why Stellar
Lend targets European and international expansion with the ambition of onboarding investors who are not crypto-native: institutional LPs, family offices, traditional real estate investors. Stellar is the only network where regulated fiat on/off-ramps already exist at the protocol level through its anchor ecosystem (SEP-6/24), with live coverage across Europe and beyond. Bridge, the primary ramp, is a native Stellar integration. EURC (Circle) provides a euro stablecoin that is permissionless and MiCA-compliant, enabling a zero-FX-risk investment path that no other chain offers in such an integrated way. Reflector provides the native oracle for EUR/USDC pricing. Soroban provides the programmability needed for compliant RWA tokenization (SEP-41 tokens, signature verification, multi-token settlement).
Every new investor onboarded through this Web2.5 layer creates a Stellar wallet, opens trustlines, generates investment transactions and yield claims. This translates directly into active wallets, stablecoin volume (USDC and EURC), TVL in the protocol, and smart contract invocations on Soroban, all contributing to the SDF's goal of $1 billion in tokenized assets on the network.
Bringing liquidity and deal flow to Stellar
Lend has partnered with Sate Investment Partners to source and structure institutional-grade real estate opportunities, ensuring a continuous pipeline of high-quality deal flow for the Stellar ecosystem. In parallel, cross-chain infrastructure (Allbridge) and a 1-year 1.25x Lend Points multiplier for Stellar-based investments are designed to position Stellar as the preferred chain for users engaging with Lend RWAs, directing crypto-native capital toward Stellar-native operations. Incentives are limited to points-based rewards; the scope of this grant is strictly focused on development.
$92.9K
On-Chain Operations (Live)
Over $1,8M in fully funded tokenized real estate across 3 completed operations:
Operation 1: $585K data center refinancing (9% APR target), fully subscribed, capital deployed, weekly yield distribution active 100% on-chain
Operation 2: $425K real estate operation, fully funded, with over 50% pre-subscribed by recurring LPs before launch
Operation 3: $858K residential rehabilitation renovation, fully funded, with tradfi & Defi native actors
5,000+ unique wallet addresses across testnet and mainnet
Smart contract infrastructure fully audited
Partnerships & Compliance
Sate Investment Partners, real estate asset manager, €400M+ in structured property transactions, providing a continuous pipeline of institutional-grade opportunities that can be tokenized on Stellar
Fully compliant under French regulation (AMF oversight, formal DIS filed per operation)
International real estate tokenization capability
Funding
$600K in pre-seed equity raised
$1.75M seed round in preparation
Deliverable 1.1: Privy Embedded Wallet & Stellar Transaction Layer
Description: Integrate Privy embedded wallets to onboard non-crypto investors via email / Google / Apple, creating a Stellar wallet (Ed25519) invisibly in the background. Because Privy supports Stellar at Tier 2 (raw signing only), build the LEND Transaction Layer: construct Soroban transactions (trustlines, Factory invocations, yield claims) with the Stellar SDK, submit Privy-signed transactions to Soroban RPC, and sponsor network fees for web2 users via fee-bump transactions. Stellar Wallets Kit is integrated in parallel for crypto-native investors (Freighter / Lobstr / xBull), with the frontend auto-detecting the connection type.
How to measure completion:
A web2 user can sign up (email/Google/Apple) and sign a Soroban transaction without ever seeing a seed phrase
An embedded Stellar wallet is created at signup, with network fees sponsored by LEND (web2 users hold no XLM)
Both connection modes work side by side: Privy (web2) and Stellar Wallets Kit (web3)
Estimated date of completion: September 26, 2026
Budget: $14,700
Deliverable 1.2: KYC (SumSub) & Reliance Orchestration
Description: Integrate SumSub for identity verification (Gov ID + selfie/liveness), performed once per investor. Build the KYC-sharing orchestration so a single KYC covers the on-ramps: the Bridge reliance payload (`verified_govid_at` / verified_selfie_at timestamps under the EEA reliance model) and the Mercuryo SumSub share-token generation. LEND backend stores verification results and retains full AML/CFT responsibility.
How to measure completion:
SumSub KYC flow (Gov ID + selfie) functional, with the result stored by LEND backend
KYC-reuse wired toward the on-ramps where each provider supports it (e.g., SumSub share token for Mercuryo, reliance data for Bridge) to reduce repeat verification, the exact friction depends on each provider's requirements
KYC status drives the on-chain investment gate
Estimated date of completion: October 3, 2026
Budget: $10,100
Deliverable 1.3: Mobile App Foundation (iOS + Android)
Description: Build the LEND mobile app foundation in Flutter (single codebase, iOS + Android), embedding the Privy Flutter SDK (embedded-wallet sign-up + raw Ed25519 signing) and the SumSub Flutter SDK (native Gov ID scan + liveness, no WebView). The app reuses the existing backend REST API and event indexer with no backend change, and implements the onboarding skeleton: social sign-up, in-app KYC, and KYC-gated navigation to the investment screens.
How to measure completion:
The Flutter app builds and runs on iOS and Android (device/simulator); a user signs up via Privy (email/Google/Apple) and an embedded Stellar wallet is created in-app
SumSub KYC (Gov ID + selfie) runs natively in-app and its status gates access to the investment screens
The app consumes the existing backend endpoints (no backend change required)
Estimated date of completion: October 10, 2026
Budget: $12,100
Deliverable 2.1: Bridge On-Ramp (SEPA → USDC & EURC)
Description: Integrate Bridge (Stripe) as the primary fiat on/off-ramp. LEND backend creates a Bridge customer (passing SumSub reliance timestamps), assigns a virtual IBAN; the investor transfers EUR via SEPA. Bridge converts EUR to USDC or EURC on the investor's Stellar wallet. A webhook notifies the LEND backend, which auto-builds and submits the invest() transaction.
How to measure completion:
A EUR on-ramp via Bridge results in USDC/EURC on the user's Stellar wallet (sandbox/testnet)
On-ramp completion triggers the investment flow (e.g., via webhook)
Investor KYC handled via Bridge's accepted method (reliance where available, otherwise Bridge's hosted KYC), onboarding works either way
Estimated date of completion: October 31, 2026
Budget: $8,400
Deliverable 2.2: Card & LATAM On-Ramps (Mercuryo + alfredpay)
Description: Integrate Mercuryo (embedded widget, card / Apple Pay, 150+ countries) with the SumSub share token to skip re-KYC (under 300 EUR only a sanctions check applies). Integrate alfredpay for LATAM local rails (PIX / SPEI / PSE), submitting local KYC documents via its API (no KYC delegation). Both deliver USDC to the Stellar wallet and auto-trigger the investment.
How to measure completion:
A Mercuryo card on-ramp (widget) results in USDC on Stellar and triggers an investment (sandbox); SumSub share token used to reduce repeat KYC where the partnership allows
Alfredpay integrated for at least one LATAM rail (sandbox), with local KYC handled via alfredpay's flow
Estimated date of completion: November 7, 2026
Budget: $7,700
Deliverable 2.3: Factory Multi-Token Settlement (USDC + EURC, zero-FX EUR)
Description: Extend the Factory to settle in two token types: USD-type (USDC) using the Reflector oracle to convert EUR-denominated share prices (staleness 600s, deviation 2%), and EUR-type (**EURC**, Circle) with direct 1:1 pricing and no oracle call (zero FX risk). Add EURC trustline management and multi-token yield distribution (investors receive yield in the same token they subscribed with).
How to measure completion:
invest() with EURC settles 1:1 against the EUR share price with no oracle call
invest() with USDC still uses Reflector (staleness/deviation checks enforced)
Yield distributed in the same token the investor subscribed with, for both paths
Both settlement paths validated end-to-end on testnet, covered by unit/integration tests on the new logic
Estimated date of completion: November 14, 2026
Budget: $9,000
Deliverable 3.1: Mainnet Deployment & Off-Ramp
Description: Deploy the full Web2.5 stack to Stellar mainnet (Privy + on-ramps + multi-token Factory) with production configuration. Implement the off-ramp: the investor sends USDC/EURC to a Bridge liquidation address, and EUR is wired via SEPA to their bank account. Internal security review of all parameters, admin functions, and signature logic (STRIDE threat model).
How to measure completion:
The full cycle is demonstrated on mainnet: EUR on-ramp, invest, yield, then off-ramp back to fiat (via the available provider path)
At least one on-ramp and the off-ramp are live on mainnet
Internal security review (STRIDE) completed
Estimated date of completion: December 1, 2026
Budget: $10,800
Deliverable 3.2: Production Mobile App (Flutter, iOS + Android)
Description: Ship the production LEND mobile app in Flutter for iOS and Android, supporting all onboarding flows on mainnet: Web2 SEPA via Bridge, card payment via Mercuryo, LATAM via alfredpay, crypto-native onboarding with Stellar Wallets Kit, and EUR-native onboarding with EURC. Implement push notifications via FCM/APNs, triggered by the backend event indexer for key events: yield, investment confirmation, and operation close. Implement biometric transaction signing via Privy, as well as in-app DIS display with acknowledgment logging for the AML/CFT audit trail. Distribute the app to testers via TestFlight for iOS and Google Play Internal Testing for Android. Publish the technical documentation: KYC reliance model, multi-token settlement, gas sponsorship, and deployment.
How to measure completion:
The mobile app runs on Stellar mainnet; all supported onboarding flows are executable, including Web2 fiat, crypto-native, and EUR-native flows, and the off-ramp is available.
The app is distributed to testers via TestFlight for iOS and Google Play Internal Testing for Android.
Push notifications and biometric signing are functional; the DIS is displayed in-app and the acknowledgment is logged on the backend.
The technical documentation is published in the public repository.
Estimated completion date: December 12, 2026
Budget: $14,600
Deliverable 3.3: On-Chain Analytics Dashboard & Ramp Redundancy
Description: Public analytics dashboard sourced from the backend indexer (TVL, active/completed operations, capital deployed, web2 vs web3 onboarding ratio, on-ramp volume by provider). Implement ramp redundancy/failover across providers (Bridge, Mercuryo, EURC) so an outage of one provider routes to a backup.
How to measure completion:
Public dashboard live, displaying near-real-time protocol metrics (e.g., TVL, operations, investors, on-ramp volume by provider, web2/web3 split)
On-ramp redundancy in place: if one provider is unavailable, an alternative path can complete an on-ramp
Estimated date of completion: December 21, 2026
Budget: $5,500
The company is led by co-founders Lucas Lareginie and Nathan Zeitoun. The core team consists of 6 members and originates from Staky.io, a staking infrastructure provider active from 2018 to 2023. During that time, the team operated across more than 30 blockchains, secured over $800M in assets under management, and contributed to the development of more than 10 decentralized applications. Through this experience, the team built deep expertise in blockchain infrastructure, DeFi protocols, yield generation strategies, and the operational needs of web3-native investors.
The team's mastery of Rust and WebAssembly from the Cosmos ecosystem accelerates our Stellar development, as Soroban uses the exact same language and execution environment despite differing architectures
Lucas Lareginie - Co-Founder & CEO (Linkedin \\ Github)
An entrepreneur since 2017, Lucas brings a sharp Web3 vision. He specializes in designing complex DeFi architectures tailored to market needs.
Nathan Zeitoun - Co-Founder & COO (Linkedin)
Nathan leads growth, strategy, and partnerships. As the operational pillar, he brings proven expertise in scaling ambitious projects from his success at Staky.io.
Aymeric Moehn - CTO (Linkedin \\ Github)
As the lead architect and full-stack Web3 developer, Aymeric specializes in multi-chain infrastructures and smart contract security to guarantee a robust platform.
Ambroise Filatriau - Lead Designer (Linkedin)
Ambroise leads visual identity and UX. He turns complex financial mechanics into intuitive interfaces, which is essential for building user trust.
Nathan Zeitoun
By lend.xyz
Lend - Tokenized real estate on Stellar
By lend.xyz
Lend - Tokenized real estate on Stellar