NA Capital-as-a-Service SSTN

NA Capital-as-a-Service SSTN is a tokenized representation of senior secured term notes issued by Victory Park Capital Advisors under the North America Capital-as-a-Service deal, which provides merchant cash advances to small and medium-sized businesses. The asset is facilitated by Tradable.xyz on the ZKsync Era blockchain, giving holders on-chain exposure to the cash flows generated by those underlying lending arrangements. It is aimed at participants who want access to the private credit market through blockchain infrastructure rather than through traditional financial channels.

Each token is priced at 1.00 USD and represents a claim tied to the underlying senior secured note structure, with the token itself living on ZKsync Era, a layer-2 network that uses zero-knowledge proofs to settle transactions at lower cost than Ethereum's base layer. Smart contracts enforce AML and KYC requirements directly on-chain, meaning compliance checks are embedded in the transfer logic rather than handled solely off-chain. No consensus algorithm is recorded for this asset, consistent with its nature as a tokenized debt instrument rather than a native blockchain currency.

The data provided does not include a fee stream, revenue figures, or protocol earnings for this asset, so no fee-based measures are available on this page. The economic return to noteholders would derive from the cash flows of the underlying merchant cash advances, but those figures are not stored here. The circulating supply stands at 50,600,000 tokens at point-in-time, against a maximum supply of 100,000,000, meaning 50.6 percent of the maximum has been issued. The fully diluted valuation equals the current market capitalization of 50,600,000 USD, reflecting that all tokens currently outstanding are counted at the recorded 1.00 USD price.