The issuer and the product
LynxCap is a Swiss investment firm based in Zug. It buys and manages loans secured on real estate across Europe, and has done so for more than 15 years. At April 2025 it managed more than €295m of collateral by market value, and had invested more than €138m since 2019 across Spain, Slovenia, Croatia, Serbia and other European markets. Its own system, LISA, links more than 30,000 active claims with legal and collections partners, giving it data on each asset.
The bond is issued by LCL Opportunities SCS under a programme on the Luxembourg Stock Exchange. It is backed by portfolios of non-performing loans (where the borrower has stopped paying), sub-performing loans (where payments are behind) and real estate owned, meaning property lenders have taken back. A separate Luxembourg company, LCL Opportunities 3 S.à r.l., issues an ERC-20 token that references the bond, and passes the money raised through to the bond issuer.
The token pays a fixed coupon quarterly. It runs for four years, with an issuer call and investor put in 2028 and a further put in 2029.
Why distribute in the UAE
Distressed real estate credit has mostly been open only to private equity funds and large institutions, because of high minimums, long lock-ups and complex structures. LynxCap wanted to reach a wider range of qualified investors without changing how the assets are bought and managed.
A token brings the ticket down to EUR 10,000. Selling in the UAE needs a locally licensed firm to onboard investors, run identity and anti-money-laundering checks and keep the investor record. We do that under our VARA licence, so LynxCap can reach UAE investors without building its own local operation.
What we did
We announced the partnership with LynxCap in April 2025, and distribute the token under our VARA licence. Tokinvest is the holder of record on the token issuer’s register, and we keep the register of individual investors behind that holding. Investors hold their exposure through Tokinvest rather than directly with the token issuer or the bond issuer.
Tokens are held by Hex Trust MENA in segregated wallets, reconciled daily. The token contract is built on Defactor’s ERC-20 contract and was audited by Zokyo in March 2025. The token whitepaper, dated 11 May 2026, is filed with VARA.
Every investor goes through our onboarding and eligibility checks before they can subscribe, and transfers are restricted to verified, eligible wallets. Coupons are paid quarterly through the platform. The product is governed by English law, with disputes heard in the DIFC courts.
Where it stands
The token went live on Tokinvest in July 2026 and is open to eligible investors now.
We’re tokenising more than real estate, we’re tokenising complexity. This is about giving investors access to real, hard assets that have historically been restricted to specialised funds and institutions. Together with Tokinvest, we’re delivering a smart and transparent way to engage with European credit.
