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The global financial landscape is currently witnessing a shift from theoretical blockchain applications to tangible implementation in the real economy. Project Dewu, a strategic collaboration between Dewu Capital and EVIDENT, represents a material step in this evolution.
By establishing one of the market's first Tokenized Qualified Foreign Limited Partner (QFLP) vehicles, we are introducing a new mechanism for cross-border capital formation. This initiative is designed to solve a specific market friction: the disconnect between offshore capital seeking attractive decorrelated yield and the substantial working capital demands of Mainland China’s high-technology supply chain.
China’s industrial ecosystem, particularly in the high-tech and advanced manufacturing sectors, holds a dominant global position. However, the financing mechanisms for the upstream suppliers in these industries have historically been fragmented.
While "Core Enterprises" (large conglomerates) enjoy abundant liquidity, their upstream suppliers (SMEs) often face long payment cycles. This creates a structural USD 2 trillion financing gap.
The QFLP (Qualified Foreign Limited Partner) program was established by state regulators to channel foreign capital into these onshore private markets. However, traditional QFLP structures are operationally heavy, typically requiring significant minimum capital outlays and complex "feeder" funds in jurisdictions like the Cayman Islands, creating a barrier to entry for all but the largest institutional and sovereign wealth investors.
The core innovation of this partnership is the digitization of the QFLP structure, executed under the fully licensed tokenization framework of the EVIDENT platform for asset issuance, broker-dealer distribution, custody, and secondary market operations. We utilize a model that EVIDENT termed Direct Depository Tokenization (DDT).
Eliminating the Feeder Layer: In a conventional structure, capital flows through multiple Special Purpose Vehicles (SPVs) before reaching the onshore entity. The DDT model streamlines this, allocating capital directly into the onshore QFLP following or proprietary approach.
The Participant Benefit:
The portfolio is composed of short-duration receivables and commercial factoring assets. These are not speculative loans; they are "self-liquidating" assets backed by genuine trade transactions.
Allocation Strategy:
The assets are characterized by short duration (typically 30–90 days). This rapid turnover minimizes interest rate risk and allows for continuous re-underwriting, a crucial feature in managing portfolio volatility.
A critical differentiator in this partnership is the ability to build upon China's highly efficient digital payments and commerce infrastructure.
Unlike traditional factoring, where lenders rely on historical financial statements, this structure leverages the massive scale of the QQT (SRM) and Flyway (Fintech Payments) ecosystems to achieve a "God’s Eye View" of the supply chain.
This integration transforms risk management from a subjective assessment of borrower character to an objective verification of transaction data at an industrial scale.
To meet the requirements of institutional capital, the project has established a robust governance framework:
Project Dewu stands as yet another example of EVIDENT’s distinct position in institutional-grade asset origination for alternative investments.
By successfully structuring complex and high-value private market opportunities for institutional investors, we continue to demonstrate that digital infrastructure is best utilized not just for the straightforward wrapping of liquid cash equivalents like money market funds, but to engineer entirely new access to the real economy. By financing established high-growth technology enterprises many of which are global champions—we are engineering entirely new, data-backed pathways for global capital deployment.
Disclaimer: This document is for informational purposes only. It is not an offer to sell or a solicitation of an offer to buy any security. Capital allocation involves risk, including the potential for loss of principal. For Professional Investors Only.
