Pencil Finance completes $1 million onchain loan cycle for 6,600 students

Pencil Finance completed a $1 million fully onchain student loan cycle in Southeast Asia. Pencil Finance deployed the capital as a lender. Borrowers repaid the loans to the bundle's funders with yield. The cycle offered financing to about 6,600 students across 118 schools and universities. Pencil Finance claimed the cycle was the first-ever fully onchain lending cycle for student loans with transparent blockchain records. About 1,050 students received direct funding. Pencil Finance said the loans targeted students underserved by traditional lenders. Female borrowers represented 50% of the borrowers. Borrowers from lower-income households represented 93% of the borrowers. Animoca Brands, Open Campus and New Campus funded the bundle in July 2025. The bundle included a senior tranche with fixed returns. It also included a junior tranche with variable returns and first-loss risk.