Securitize taps Elixir to make Hamilton Lane’s tokenized HLSCOPE fund more liquid via the deUSD synthetic dollar

The Block

Jul 31, 2025 23:17:52

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Elixir has been tapped by Securitize and Hamilton Lane to provide additional yield opportunities for the asset manager's Hamilton Lane Senior Credit Opportunities Securitize Fund (HLSCOPE).

Securitize said HLSCOPE will allocate up to 5% of its real-world asset backings to deUSD, a fully collateralized, yield-bearing synthetic dollar managed by Elixir. deUSD is a synthetic dollar pegged to USD, but not using 1:1 cash reserves. Instead, it's minted using collateral like stETH and sDAI to create a delta-neutral position.

"This strategic allocation will embed deUSD as a stable onchain settlement asset for this institutional-grade fund, demonstrating the growing trust and adoption of stable reserves in regulated private credit strategies," Securitize said in a statement.

As part of the deal, Securitize requested that HLSCOPE be minted and redeemed 24/7, which would enable near-instant swaps between tokenized funds and stablecoins on multiple blockchains. Elixir is integrated with a number of EVM chains, including Avalanche, as well as Sei and Injective — though it is unclear whether Elixir will support this initiative across its stack.

Securitize has also proposed that Elixir will act as a key player in HLSCOPE’s settlement, in part by holding a floating balance of HLSCOPE to provide liquidity for deUSD swaps and holding HLSCOPE as part of deUSD’s collateral backing. "This would enable holders to bypass the traditional T+2 settlement via wire transfer," the company notes.

deUSD is increasingly used as collateral in Elixir-powered exchanges and integrates with major financial institutions like BlackRock and Hamilton Lane for DeFi access. It's also bridged to like Sei as fastUSD. HLSCOPE, a tokenized version of Hamilton Lane's main "senior credit" fund, is backed by investments in senior secured private credit and senior secured loans to companies in North America and Europe. Its total asset value is about $9 million, primarily on Polygon, according to RWA.xyz.

Last November, BlackRock joined as the first institutional user of Securitize's "deUSD RWA Institutional Program" using its BUIDL token. As part of that arrangement, Elixir mints sBUIDL, a more flexible version of the tokenized fund that can be used onchain in the DeFi ecosystem.

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