Decentralised real-world asset lending protocol NAOS Finance is making progress towards the launch of its platform that’ll allow the permissionless borrowing of cryptocurrencies using tokenised real-world income streams as collateral.

The Singapore-based project recently has begun working with Chainlink Labs to bring more traditional financial data into Chainklink‘s network data feeds, also known as oracles.

The custom-built solution will bring credit agency, bank, insurance, government and telecom network data on-chain, allowing smart contracts to interact with them.

NAOS says that after the integration, borrowers on NAOS will be able to bring their financial data on-chain using Chainlink, and NAOS lenders will be able to access the same financial data that was previously only available to a handful of financial institutions.

“Funding partners will be able to leverage a global, more definitive source of truth in their decision making,” the company said.

NAOS is focused on bridging the gap between centralised finance and decentralised finance, by allowing DeFi lenders and SME borrowers to interact on the blockchain in a permissionless manner (once they have met traditional know-your-customer identity verification).

Right now the platform is working to tokenise debt obligations like corporate loans, accounts receivables, warehouse receipts and invoices so they can serve as collateral. Later it hopes to tokenise hard assets such as real estate, precious metals, equipment and commodities.

“We have a long list of corporate borrowers looking to break away from their geographic constraints for funding, and are eager to work with Chainlink and NAOS to gain global exposure,” said Kevin Tseng, founder of NAOS Finance.

“We’re working with some of the most promising companies in the emerging markets where capital is only available to the privileged few. Our oracle solution with Chainlink is aiming at resolving this issue.”

NAOS plans to launch its platform before the end of this year.