Luxembourg-based digital securities platform DEFYCA will release its tokenized private credit protocol on the Avalanche blockchain’s testnet this month, aiming for a mainnet launch in late July, the firm told CoinDesk.

DEFYCA says that it is the first company to offer digital securities to professional investors under the European Union’s upcoming, comprehensive crypto regulation called MiCA proposal and the current blockchain laws of Luxembourg.

The announcement comes as crypto and traditional capital markets are increasingly getting commingled in decentralized finance (DeFi) with protocols offering tokenized versions of real-world assets (RWA) such as bonds and credit on the blockchain for investors. Private debt funds, which DEFYCA is aiming to bring to Avalanche, manage $1.6 trillion of assets, according to a report by Broadridge.