PANews reported on April 17 that, according to Bloomberg, Hong Kong-based alternative asset management firm Flow Capital Partners plans to put its $150 million private credit fund on the blockchain through Singapore-based DigiFT, becoming one of the first fund management companies in Asia to utilize stablecoin liquidity.

Launched last June, the fund plans to raise an additional $30 million through tokenized shares by the end of this year, aiming to expand the fund size to $250 million with a target net return of 12%. The private lending market is facing difficulties for borrowers under pressure from high interest rates, rising default rates, and liquidity stress, but Flow states that its investments are primarily focused on mortgage lending and it is not concerned about the risks.