PCP is Standardized post-trade enforcement infrastructure for tokenized collateral.

We enable lending & repo on digital & tokenized assets — without moving collateral out of custody.

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FAQs

1. What does PCP do?

PCP is enforcement infrastructure for tokenized institutional collateral. It deploys within a custodian's existing custody systems and translates trade execution events into cryptographic lock instructions at HSM signing policy level. Collateral never moves out of custody. PCP enforces liens, monitors LTV, and executes default cascades automatically against pre-agreed Control Agreement parameters.

2. Does PCP require changing custody systems?

3. What are PCP's product lines?

4. Why does PCP need to exist?

5. What assets, blockchains, and settlement does PCP support?

Latest insights

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PCP Partners with Digital Asset and the Canton Foundation to Enable Custody-Native Credit on the Network

The collaboration brings integrated lending to Canton-based tokenized and digital assets, enabling institutions to unlock credit directly from custody.

PCP and Libeara Collaborate to Explore Means to Enable Custody-Native Credit Against Tokenized Real-World Assets

The collaboration looks towards making products tokenized by Libeara, such as funds, available on PCP's credit orchestration infrastructure — allowing borrowers to earn yield on locked collateral while maintaining liquidity.

SemiLiquid Unveils Programmable Credit Protocol, Built with Avalanche, Advancing Institutional Credit on Tokenised Collateral

SemiLiquid, a custody-native infrastructure layer for institutional credit, today announced the launch of its Programmable Credit Protocol (PCP) at Abu Dhabi Finance Week 2025. The groundbreaking infrastructure enables institutions to activate credit against digital and tokenized assets held in custody – without transferring collateral, marking a critical advancement in the evolution of digital capital markets. Developed and launched in Abu Dhabi, the protocol is now planned to be rolled out globally, underscoring the emirate’s rise as a leading hub for digital assets and a launchpad for financial innovation.

Plug into the enforcement plumbing for tokenized markets.

For custodian banks, digital asset custodians, and execution venues.

Direct integration or CaaS — your environment, your controls.

For custodian banks, digital asset custodians, and execution venues.

Direct integration or CaaS — your environment, your controls.

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This website is intended for the user's own use in reviewing information available here about PCP, SemiLiquid and any of its affiliates . By accessing this website, you agree to be bound by the terms and conditions that appear herein. These terms and conditions are subject to change. PCP reserves the right to modify these terms and conditions, which it may do by posting changes to the website. If you do not agree with these terms and conditions, please do not access the website.

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SemiLiquid unveils PCP. During a pilot with Franklin Templeton, Zodia Custody, Avalanche and others.

SemiLiquid unveils PCP. During a pilot with Franklin Templeton, Zodia Custody, Avalanche and others.
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