Chateau

What Chateau does

Chateau is a DeFi protocol, founded in 2022 and headquartered in London with operating presence in Panama and the United States, that tokenizes Wall Street private credit instruments and distributes them on-chain through an omnichain synthetic dollar stack. Its core products are chUSD, an omnichain, multi-collateral synthetic dollar backed 1:1 by high-quality collateral including US Treasury bills, stablecoins, and cash equivalents, and schUSD, an ERC-4626 staking vault that grants depositors exposure to a hyperdiversified portfolio of 100+ short-term U.S. SME revenue-based loans originated through Covenant Venture Capital's private $500M syndicate accessing the $30B+ revenue-based lending market. The protocol is built on Plasma, a purpose-built Layer-1 stablecoin blockchain with $8B+ TVL, and uses LayerZero OFT to bridge chUSD across Hyperliquid, Mainnet, Berachain, and other chains. The platform targets two segments: institutional allocators (family offices, hedge funds, banks, issuers of private market assets) seeking on-chain tokenization and immediate secondary liquidity in place of 3-12 month traditional timelines, and DeFi-native users seeking yield exposure above the 4-6% benchmark of stablecoin lending protocols.

Revenue is generated primarily through a yield spread on schUSD (the differential between private credit portfolio gross returns, reported at 23.86% one-year IRR with a 2.96 Sharpe, and the yield paid to depositors), supplemented by tokenization fees for issuers onboarding private market assets via an Airtable launch form, syndication and origination fees on deal flow sourced through Covenant VC, and transaction-based revenue from secondary market making and OTC activity routed through partner Marsbase. Distribution combines a permissionless self-serve interface at app.chateau.capital with channel partnerships: Marsbase provides principal OTC liquidity and AI-driven matching, Fortress Trust and Prime Trust handle custody and compliance for on- and off-ramping traditional assets, and four DeFi protocols (Bunni, Felix, Curve RAAC, Merkle) provide on-chain composability. Chateau completed a pre-seed round led by Hack VC in August 2024 and operates with a 1-10 person founding team led by CEO Hao Jun Tan, Head of Growth DA, and Head of Sales Keith Simons.

Name

Chateau

Legal name

Chateau Capital Corp

Website

https://chateau.capital

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

1–10 employees

Short description

Chateau is a DeFi protocol that issues chUSD, an omnichain synthetic dollar, and schUSD, an ERC-4626 vault delivering exposure to a hyperdiversified portfolio of 100+ U.S. SME private credit loans originated through Covenant Venture Capital's $500M syndicate on Plasma. It serves DeFi yield-seekers and institutional asset issuers.

Ownership category

akta.pro rank

Product category

Decentralized Finance Protocol

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Other Financial Vehicles (52599)

SIC

Finance Services (6199), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Institutional DeFi & On-Chain Liquidity Infrastructure (Permissioned DeFi, Lending) (FSAGAMAG)

akta.pro secondary industries

Yield, Vaults & Asset Management (vault strategies, robo-vaults, structured yield) (FSAPAEAG), Yield Aggregators & Strategy Vaults (FSADAMAF)

Keywords

• Synthetic dollar protocol
• Private credit tokenization
• DeFi yield vault
• Real world assets
• Omnichain stablecoin

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Private Credit Syndication and Deal Flow: Chateau earns fees by structuring and distributing private credit deals through its platform, accessing Covenant VC's $500M syndicate and $30B+ revenue-based lending market. Revenue derived from origination and management fees on tokenized private credit instruments.
2. Asset Tokenization Services: Chateau charges issuers (family offices, hedge funds, private companies) to tokenize assets and access on-chain capital. The platform manages legal diligence, operates legal entities for token issuance, and provides a marketplace for fundraising — generating fees at tokenization and ongoing liquidity events.
3. Yield Spread on schUSD: Yield accrues from private credit portfolio income (Covenant VC's hyperdiversified loan portfolio). The spread between actual credit returns (~23%+ IRR) and the chUSD/schUSD yield paid to users represents platform revenue.
4. Secondary Market and Market Making: Chateau provides secondary market liquidity, market making, and OTC desk services for tokenized assets, generating transaction-based revenue from trading activity and spread.

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Chateau operates a DeFi protocol built around two core products: chUSD, an omnichain, multi-collateral synthetic dollar backed 1:1 by high-quality collateral (US Treasury bills, stablecoins, cash equivalents), and schUSD, an ERC-4626 staking vault that earns yield from a hyperdiversified portfolio of 100+ short-term, secured U.S. SME loans managed by Covenant VC. The protocol also offers asset tokenization services enabling family offices, hedge funds, and private companies to bring real-world private credit and structured products on-chain.

Product overview

Chateau is a DeFi protocol structured as a platform-plus-products architecture centered on bringing Wall Street private credit to on-chain finance. The core products are chUSD (an omnichain, multi-collateral synthetic dollar) and schUSD (an ERC-4626 yield vault staking chUSD into Covenant VC's private credit portfolio of 100+ U.S. SME loans). Together, chUSD functions as the mintable synthetic dollar entry point and DeFi building block, while schUSD converts that liquidity into institutional-grade private credit yield. A companion product, yields.to, provides a public leaderboard tracking stablecoin yields on Plasma.

Differentiator

Problem solved

Functional benefit

Brands

• chUSD: Omnichain multi-collateral synthetic dollar backed 1:1 by high-quality collateral including US Treasury bills, stablecoins, cash equivalents, and other liquid assets. Built for DeFi composability.
• schUSD
• yields.to

Products and services

• chUSD chUSD (Chateau US Dollar) is an omnichain, multi-collateral synthetic dollar backed 1:1 by high-quality collateral including US Treasury bills, stablecoins, and cash equivalents. It is built for DeFi composability and serves as the entry point to access private credit yields via the schUSD vault. Mintable on Plasma mainnet with USDT0.
• schUSD schUSD is an ERC-4626 compliant vault that earns yield from Wall Street Private Credit strategies managed by Covenant VC. Depositors stake chUSD to access a hyperdiversified portfolio of 100+ short-term, revenue-based U.S. SME loans targeting mispriced risk in private credit, delivering monthly returns.
• yields.to yields.to is a live leaderboard tracking the highest-yielding stablecoins on the Plasma blockchain, ranked by base APY from real protocol activity. Displays asset, protocol, base APY, 30-day average, and TVL for stablecoin yield products.
• Asset Tokenization Service Service enabling family offices, hedge funds, and private companies to tokenize assets (private credit portfolios, SPVs, venture debt, structured finance products) and access on-chain capital. Chateau manages legal diligence, operates legal entities for token issuance, and provides a marketplace for fundraising.

Quantifiable outcome

• schUSD delivered 23.86% 1Y IRR with 2.96 Sharpe ratio, outperforming Ethena sUSDe by 4.93X and OUSG by 7.50X since 2025
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered minor and core.

• Pre-TrillionsminorGTM or Marketing Partner · 28 October 2025Pre-Trillions, the first NFT collection on Plasma, partnered with Chateau to offer Pre-Trillions holders a +10% bonus points boost when staking chUSD. This integrates DeFi yield with Plasma's culture-first NFT community, providing exclusive yield benefits to NFT holders.
• Covenant Venture CapitalcoreStrategic or Co-development PartnerCovenant VC is Chateau's first and primary strategic partner. Covenant is an SEC-regulated credit hedge fund with 40 years of experience and $1B AUM of deal flow. Covenant's institutional credit platform manages the schUSD portfolio through a private $500M syndicate accessing the $30B+ revenue-based lending market. Covenant is also listed as a trusted partner on Chateau's homepage.
• MarsbasecoreStrategic or Co-development PartnerMarsbase serves as the principal liquidity venue for Chateau's tokenized assets, providing OTC order book, AI-driven matching algorithms, instant settlement, and higher efficiency for both decentralized and institutional participants. The partnership enables Chateau's tokenized opportunities to benefit from seamless liquidity even at institutional scale.
• Fortress TrustcoreImplementation/ SI/ Consulting PartnerFortress Trust handles custody and compliance for on/off-ramping traditional financial assets in partnership with Chateau and Marsbase, enabling tokenization of VC funds, private credit tranches, and convertible notes.
• Prime TrustcoreImplementation/ SI/ Consulting PartnerPrime Trust handles custody and compliance for on/off-ramping traditional financial assets in partnership with Chateau and Marsbase, enabling tokenization of VC funds, private credit tranches, and convertible notes.
• Hacker NoonminorGTM or Marketing PartnerHacker Noon is listed as a trusted partner on Chateau's homepage. As a premier tech publication, Hacker Noon amplifies Chateau's DeFi innovations and provided coverage for Chateau's pre-seed round announcement.
• PlasmacoreTechnology or IntegrationPlasma is the L1 blockchain Chateau is built on. Plasma is purpose-built for stablecoin infrastructure with zero-fee USDT transfers, sub-second finality, Bitcoin security anchoring, EVM compatibility, and $8B+ TVL. Chateau leverages Plasma's ecosystem including Plasma One distribution for end-users.
• LayerZerocoreTechnology or IntegrationChateau uses LayerZero's Omnichain Fungible Token (OFT) standard to bridge chUSD from Plasma mainnet to Hyperliquid, Mainnet, Berachain, and other chains, enabling cross-chain liquidity and ecosystem distribution.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Maple Finance: Institutional on-chain credit marketplace that underwrites and originates loans to institutions, with tokenized credit pools (syrupUSDC, syrupUSDT). Directly comparable to Chateau's schUSD model of intermediating TradFi credit on-chain with institutional underwriting standards.
• Centrifuge: RWA tokenization protocol that brings off-chain assets (including private credit) on-chain via Tinlake/Tinlake pools and is listed as an integrated protocol on Plasma. Direct peer in tokenizing institutional credit for DeFi liquidity.
• Ondo Finance: Issuer of tokenized U.S. Treasuries (OUSG, OUSY) and synthetic dollar products explicitly benchmarked against Chateau's schUSD (OUSG). Direct peer in on-chain yield-bearing dollar products targeting both DeFi and TradFi allocators.
• Ethena: Issuer of synthetic dollar USDe and staking product sUSDe, explicitly benchmarked in Chateau's outperformance narrative. Direct peer in DeFi-native synthetic dollar space with overlapping customer base and similar infrastructure integrations on Plasma.
• Goldfinch: Decentralized credit protocol originating loans to real-world businesses in emerging markets with on-chain senior/junior tranches. Comparable to Chateau in bringing real-world private credit to DeFi, though with different geographic and underwriting focus.
• Clearpool: On-chain credit marketplace for institutional borrowers with permissioned pools and dynamic risk-adjusted yields. Direct competitor in institutional private credit tokenization for DeFi liquidity providers.
• TrueFi: Decentralized credit protocol offering uncollateralized and undercollateralized business loans with on-chain tranches. Comparable to Chateau in originating and tokenizing private credit exposure, with similar institutional borrower underwriting.

Broad incumbents

• MakerDAO (Sky): Largest incumbent issuer of synthetic dollars (DAI/USDS) via overcollateralized CDPs with deep DeFi liquidity and broad chain deployment. Indirectly comparable as a multi-collateral synthetic dollar with RWA components, but operates at much broader scale.

Emerging players

• Morpho: Optimized lending primitive enabling efficient lending markets and increasingly RWA credit vaults (via MetaMorpho). Comparable in deploying institutional credit strategies on-chain with risk-managed vaults, though Morpho is more of a lending primitive layer than a direct issuer.
• Securitize: Regulated RWA tokenization platform providing issuance, custody, and compliance rails for on-chain securities. Comparable to Chateau's tokenization services arm for issuers, though Securitize focuses on compliance/issuance infrastructure while Chateau focuses on credit products.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights6 records

Customer concentration

• Xx.com/chateau_capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Chateau