AltaX, Phillip Securities and Hamilton Lane to introduce world’s first tokenised Shariah-compliant private credit fund

The firms aim to serve the underserved and rapidly growing global Islamic funds market.

Private market digital securities exchange Alta Exchange (AltaX), Phillip Securities and investment management firm Hamilton Lane have announced a collaboration under the Monetary Authority of Singapore’s (MAS) Project Guardian.

Alongside joining Project Guardian, the three firms are collaborating on a use case aiming to broaden access to the tokenised version of Hamilton Lane’s Senior Credit Opportunities (SCOPE) Fund listed on AltaX, which launched in March 2023.

SCOPE is an all-weather senior private credit evergreen vehicle intended for investors seeking potential safety and yield. Tokenising and listing SCOPE on AltaX marked the completion of the first of two strategic phases for the partnership. 

The second phase aims to look at other ways to broaden access to private credit, including by exploring the potential to introduce the world’s first Shariah-compliant tokenised private credit fund, with the aim of serving the underserved and rapidly growing global Islamic funds market.