Space and Time (SXT), a layer-1 data blockchain focused on securing onchain finance, has rolled out Virtual Vaults, a configurable platform for institutional lending. Backed by Microsoft, the offering is designed to give lenders and borrowers cryptographically verified, continuously updated visibility into collateral held across centralized exchanges and DeFi protocols.
Real-time collateral verification has been a persistent pain point for institutional lenders, who say generic solvency metrics do not meet operational needs. Nate Holiday, cofounder of Space and Time and CEO of MakeInfinite Labs, frames Virtual Vaults as a direct response to that demand: institutions and onchain protocols need verifiable data they can act on and precise, timely views of what backs a loan.
Each Virtual Vault is tailored to the loan agreement. Lenders and borrowers can specify which trading venues to monitor, which assets qualify as collateral, and the thresholds that trigger alerts or automated actions. Space and Time says these controls extend its platform into onchain credit, offering verifiable controls and reporting aimed at the compliance, auditability, and scale institutions require.
Space and Time has close ties to Microsoft. M12, Microsofts venture arm, participated in the company’s Series A and led a strategic funding round in 2022, according to Token Terminal. In August 2024 SXT raised $20 million from investors including Lightspeed Faction and Arrington Capital, bringing total reported funding to about $50 million. A company spokesperson declined to comment on future financing plans.
The project was integrated with Microsoft Fabric about a year ago and is designated a Microsoft co-selling cloud solution. Microsoft promotes Fabric as an end-to-end intelligent data platform that can be used to combine and analyze enterprise data. Separately, the Space and Time Foundation has partnered with Indonesia’s Indomobil to onboard 50,000 students onchain, using SXT to record proof of course completion and to accept payments in SXT.
The native token SXT is deployed across multiple chains, including Ethereum and Base. At the time of publication, CoinMarketCap data showed roughly 368,350 token holders and a market capitalization near $21.92 million.
By packaging cryptographic verification, continuous monitoring, and configurable governance into a lender-facing product, Virtual Vaults aims to lower the operational friction for institutions seeking to provide or use onchain credit while meeting the reporting and control needs of enterprise counterparties.