Vendor ·
Nammu21 and Google Cloud run a proof of concept that turns a credit agreement's transfer terms into executable smart-contract logic for a $1.945bn Term Loan B
Nammu21 and Google Cloud described a proof of concept in which Nammu21's AI-powered platform renders a facility's governing terms (conditions, consents, eligibility criteria and operational mechanics) as a Digital Credit Instrument mapped back to the originating legal provision, then derives contracts that run on Google Cloud Universal Ledger, a permissioned ledger. The modelled facility was a $1.945 billion Term Loan B, one segment of a broader multi-facility transaction. Onboarding needs each participant's approval, the agent bank records a hash of key terms on-ledger, a transfer needs new-lender, borrower and agent-bank consent before it executes, and payments settle in tokenized commercial bank money. Unlock Blockchain notes it is a proof of concept, not a commercial deployment, and cites Loan Market Association data of a 42-day average secondary settlement in Q4 2024.
Why it matters for deal teams: The hard part is not the ledger but reading the credit agreement correctly: if transfer and consent rules can be extracted with clause-level traceability, the same terms data feeds agency ops, assignment checks and covenant monitoring, so ask any vendor how each extracted rule links back to its source clause.
Source: Google Cloud Blog (co-authored by Nammu21); Unlock Blockchain ↗ · more ↗