The complete technology stack for
pledged-asset lending

The platform provides RESTful APIs designed for integration with major core financial systems. Pre-built connectors exist for widely-used systems, and the API specification enables custom integration with any system that supports modern web services. Integration depth varies by core system, ranging from basic data exchange to bidirectional synchronization of loan status, payment events, and collateral values. Implementation teams work directly with your technical staff to configure appropriate integration patterns.

Aaim supports over 47 asset types including publicly traded securities, cryptocurrency (Bitcoin, Ethereum, and select altcoins), private company equity (startup shares, stock options, RSUs), real estate syndications, private fund LP interests, venture capital positions, hedge fund investments, carbon credits, and renewable energy income streams. Our patent-pending valuation methodology provides institutional-grade precision across both liquid and illiquid assets.

Complete API documentation is provided in OpenAPI (Swagger) format, including endpoint specifications, request/response schemas, authentication requirements, and example payloads. Documentation includes webhook specifications for event-driven integration, rate limiting guidance, and error handling patterns. Interactive API documentation enables testing against sandbox environments. Client libraries are available for common programming languages.

Aaim integrates with major core financial platforms including Fiserv, Jack Henry, FIS, and nCino through standard RESTful APIs and webhooks. Typical integration takes 2-4 weeks depending on complexity. We provide comprehensive API documentation, TypeScript SDKs, and dedicated integration support. Pledged asset loans appear and behave like traditional loans in your existing systems - no special handling required for servicing or reporting.

Most implementations take 4-8 weeks from contract signing to go-live. This includes API integration, staff training, and compliance review. Our dedicated implementation team works alongside your technical and operations staff to ensure a smooth launch.

Valuation methodology varies by asset class, with each approach designed to balance accuracy, timeliness, and regulatory defensibility. For cryptocurrency (Bitcoin, Ethereum, select altcoins), valuation uses volume-weighted average pricing across major exchanges. The platform aggregates data from Coinbase, Kraken, Binance, and other qualified sources. Updates occur every 15 minutes during market hours (24/7 for crypto). Volatility-adjusted haircuts are applied based on 30-day rolling volatility, with more conservative advance rates during high-volatility periods. For publicly traded securities, valuation uses official closing prices from exchange feeds. For options and restricted stock, adjustments are made for exercise costs, blackout periods, and transfer restrictions. Holdings in margin accounts are marked to market at standard intervals. For private equity and venture capital LP interests, valuation combines multiple inputs: the most recent NAV statement from the fund administrator, secondary market transaction data where available, and comparable fund analysis. NAV statements are typically lagged 30-90 days, so the platform applies adjustment factors based on public market movements in relevant sectors. For startup equity (RSUs, options, common shares in private companies), valuation starts with the most recent 409A valuation or financing round price. Adjustments are applied for: company performance signals, sector comparables, time since last mark, and probability-weighted exit scenarios. The methodology distinguishes between preferred and common shares and accounts for preference stacks. For real assets (art, wine, collectibles), valuation uses comparable sales analysis, professional appraisals, and auction result databases. These assets are marked less frequently (quarterly or on significant market events) given the nature of the markets. All valuations include confidence intervals and are fully documented with methodology explanations and factor attribution. This supports OCC 2011-12 model risk management requirements and examination readiness.

A complete sandbox environment mirrors production functionality with synthetic data. The sandbox includes simulated market data, test accounts at supported custodians, and configurable scenarios for margin events and collateral changes. Institutions can test end-to-end workflows from application through funding and monitoring without affecting production systems. Sandbox access is provided during the implementation process and maintained for ongoing testing of new features or integrations.

Valuation frequency varies by asset class. Publicly traded securities update every 15 minutes during market hours using aggregated exchange data. Private fund interests update quarterly, aligned with NAV reporting from fund managers. Private company equity updates at financing events or annually with 409A valuations. Cryptocurrency updates continuously (24/7) from exchange aggregators. For margin monitoring, liquid assets are tracked in near-real-time with automated alerts when values cross thresholds.

During trading halts or exchange outages, the platform continues using the last valid price with appropriate staleness indicators. For securities subject to circuit breakers, the system flags the position for manual review and may apply conservative haircuts to account for uncertainty. Cryptocurrency markets trade continuously across multiple exchanges, so exchange-specific outages are mitigated through aggregation across multiple sources. During extreme market stress, institutions can pause automated margin actions and shift to manual oversight.

Minimum loan amounts are determined by each financial institution based on their program design and operational economics. The platform supports loans of any size, though the operational overhead of pledged-asset lending (collateral documentation, ongoing monitoring, margin management) typically makes very small loans economically impractical. Most institutions set minimums in the $50,000 to $250,000 range, though some programs target higher minimums for specific asset classes.

Security interest perfection varies by asset class and requires coordinated execution across multiple legal frameworks. For publicly traded securities under UCC Article 8, perfection requires control over the securities account. The platform generates tri-party control agreements between your institution, the borrower, and the securities intermediary (broker, custodian). These agreements establish that your institution can issue entitlement orders without further consent from the debtor. The system tracks control agreement execution status and alerts when agreements are pending or expired. For general intangibles under UCC Article 9, including LP interests in private funds, perfection typically requires filing a UCC-1 financing statement. The platform generates appropriate collateral descriptions, identifies the correct filing jurisdiction based on debtor organization, and tracks filing status. Automatic reminders generate 6 months before the 5-year filing lapses, ensuring continuation statements are filed timely. For digital assets under UCC Article 12 (in states that have adopted it), perfection requires control over the controllable electronic record. The platform coordinates with qualified custodians to establish and document control. In states without Article 12 adoption, alternative perfection paths under Article 9 are structured with appropriate belt-and-suspenders documentation. For real assets (art, wine, collectibles), perfection may require physical possession or bailment arrangements with qualified storage facilities. The platform tracks possession status and generates appropriate documentation. All perfection documentation is version-controlled and maintained in an examination-ready format. The system generates perfection status reports showing collateral coverage, control agreement status, and filing positions across your entire alternative asset lending portfolio.

Margin management is essential for alternative asset lending given the volatility characteristics of many collateral types. The platform implements a multi-tier approach designed to protect your institution while minimizing borrower disruption. For liquid assets (cryptocurrency, publicly traded securities), the platform monitors collateral values every 15 minutes against loan balances. LTV thresholds are configurable by asset class and typically include three tiers: a warning threshold (e.g., 70% LTV), a margin call threshold (e.g., 80% LTV), and a liquidation threshold (e.g., 90% LTV). When the warning threshold is reached, the borrower receives an automated notification via email and SMS with current position details. This early warning allows proactive cure before a formal margin call. At the margin call threshold, formal notice is issued requiring the borrower to restore the LTV ratio within a configurable cure period (typically 24-72 hours for liquid collateral). Cure options include depositing additional collateral, making principal payment, or providing cash margin. The borrower portal shows real-time cure requirements and accepts immediate action. If the cure period expires without resolution, or if the liquidation threshold is reached, the platform initiates liquidation procedures according to your institutional policies. For liquid assets, this typically means directing the custodian to sell collateral. For illiquid assets, the platform documents the trigger event and initiates your workout procedures. For illiquid assets (private equity, startup equity, real estate syndications), margin monitoring operates on valuation events rather than continuous pricing. Thresholds are typically more conservative given liquidation complexity. The platform tracks time-since-valuation and alerts when collateral may be stale. All margin events are logged with timestamps, notifications sent, borrower responses, and institutional actions. This audit trail supports regulatory examination and dispute resolution.

The platform integrates with major securities custodians and broker-dealers for public securities, qualified digital asset custodians for cryptocurrency, and transfer agents for private company stock. Integrations enable automated account connection, position verification, and control agreement workflows. The specific custodians available depend on asset class and institutional preferences. New custodian integrations can be added based on program requirements.

Cryptocurrency custody is the most critical risk control in digital asset lending. The platform integrates with qualified custodians and implements multiple security layers. Custodian qualification requires SOC 2 Type II certification, proof of reserves audits, segregated customer accounts, insurance coverage, and regulatory registration where applicable. We maintain integration relationships with Coinbase Custody, BitGo, Anchorage, Fireblocks, and other institutional-grade providers. Control structure follows UCC Article 12 requirements. Tri-party control agreements establish that your institution can direct disposition of pledged assets without further borrower consent. The borrower retains beneficial ownership but you hold perfected security interests. Asset segregation is mandatory. Pledged cryptocurrency is held in separately identified accounts, never commingled with other customer assets or custodian operating funds. Account statements are available in real-time through the platform. Multi-signature requirements can be configured for disposition events. Depending on custodian capabilities and your risk preferences, liquidation may require authorization from multiple parties before execution. Insurance coverage varies by custodian but typically includes crime insurance, E&O coverage, and in some cases specie insurance for digital assets. The platform tracks insurance status and alerts when coverage documentation needs renewal. No rehypothecation is permitted. Pledged assets are never used for any purpose other than securing the specific loan. Unlike the failed crypto lending platforms, there is no yield generation, no lending out, and no leveraged trading with customer collateral. Audit trails document every custody event: deposit, valuation, transfer, and disposition. This supports both operational reconciliation and examination documentation.

Startup equity presents unique valuation challenges because there is no active market and company information may be limited. Our methodology addresses these challenges systematically. Starting point valuation uses the most recent observable data: 409A valuation (for tax-compliant fair market value), last financing round price (with adjustment for share class), or secondary market transactions where available. The data source and date are documented for each position. Company-specific adjustments account for performance signals since the last mark. These include announced financing rounds, reported revenue growth, headcount changes (via LinkedIn data), product launches, and material news. Negative signals (layoffs, down rounds, executive departures) are weighted appropriately. Sector adjustments reflect public market movements in comparable sectors. If public SaaS companies have declined 30% since the startup's last financing, the private company valuation is adjusted accordingly. Sector indices and comparable company baskets inform these adjustments. Share class considerations distinguish between common and preferred shares. Liquidation preferences, participation rights, and conversion terms affect economic outcomes. The methodology models expected value across exit scenarios, accounting for preference stacks that may reduce common share value. Exit probability weighting considers the statistical likelihood of various outcomes: IPO, acquisition, down round, and failure. Stage-appropriate probabilities are applied based on company maturity, sector dynamics, and financing history. RSU-specific factors include vesting schedules, delivery timing, and tax implications. Unvested RSUs are discounted for forfeiture risk. Post-delivery RSUs are valued as common shares subject to transfer restrictions. Option-specific factors include exercise price, expiration date, and exercisability status. In-the-money options are valued at intrinsic value plus time value. Out-of-the-money options receive minimal credit. All startup equity valuations include confidence ranges reflecting uncertainty. Haircuts are typically conservative (30-50% advance rates) to account for valuation uncertainty and liquidation complexity.

LP interests in hedge funds, private equity, and venture capital present specific valuation and perfection challenges that the platform addresses systematically. NAV-based valuation starts with the most recent NAV statement from the fund administrator. For hedge funds, this is typically monthly or quarterly. For PE and VC funds, this may be quarterly with significant lag. The platform tracks statement timing and flags positions where NAV data is stale. NAV adjustments account for market movements since the statement date. For hedge funds with disclosed strategy and exposure, sector-specific indices inform interim adjustments. For PE funds, public market comparable movements provide adjustment factors. These adjustments are clearly documented as estimates pending the next official NAV. Liquidity discounts reflect redemption restrictions. Most hedge funds have lockup periods, notice requirements, and gate provisions. The platform models expected time-to-liquidity and applies appropriate discounts. A fund with a three-year lockup receives a larger discount than one with quarterly liquidity. Fund document review is essential. LP agreements contain transfer restrictions, ROFR provisions, GP consent requirements, and other terms that affect both valuation and perfection. The platform captures these terms during onboarding and incorporates them into collateral analysis. Perfection under UCC Article 9 typically requires filing a financing statement. LP interests are general intangibles, perfected by filing in the debtor's state of organization. The platform generates appropriate collateral descriptions and tracks filing status. GP notification is often required by the LP agreement before transfer. The platform generates notification letters and tracks acknowledgment. Some agreements require GP consent before pledge; the platform manages this workflow. Capital call obligations complicate LP interest collateral. Uncalled commitments represent liabilities that offset asset value. The platform tracks committed versus contributed capital and adjusts net asset value accordingly. Secondary market data, where available, provides additional valuation inputs. Platforms like Nasdaq Private Market, CAIS, and specialized brokers report transaction prices. These data points inform valuation adjustments and provide exit visibility. Typical advance rates for LP interests range from 30-50% depending on fund type, liquidity profile, and manager quality. More liquid hedge fund interests may warrant higher advance rates; illiquid PE or VC interests warrant more conservative treatment.