Bricklayer

Bricklayer is a private credit protocol for real estate: an owner does not sell the property but grants a charge over title to a lending special purpose vehicle set up in the local jurisdiction, in exchange for a stablecoin-denominated loan. Capital is pooled from several fixed-term lenders, loans are over-collateralised, and loan-to-value is held near 70%, which keeps the security enforceable on default.

Undrawn capital is not left idle: the protocol allocates the surplus to short-duration strategies, reducing the cash drag typical of traditional private credit while keeping funds immediately available for lending. In July 2025 the protocol secured an option to offer tokenised equity in a logistics facility in Florence, Kentucky, leased by Amazon and valued at about 44 million US dollars, the first asset under its tokenised equity structure.