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Florence Finance

RWA · Private Credit · FF

NetworkRWAPrivate CreditInstitutional-Gated0 coinsAudited

SME invoice financing on-chain.

SME invoice financing on-chain.

Assets under management

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Risks identified

  • Counterparty

    Credit / borrower-default risk is the primary risk: repayment depends on European SMEs and the lending partners (Caple, SwishFund, Avellinia) that originate and manage the loans. Current rollout vaults intentionally target the riskier junior/subordinated/2nd-lien end of the credit spectrum.

  • Reserve / Depeg

    flrEUR is intended to redeem 1:1 for EUR via the Treasury, but if the Treasury is empty redemption depends on secondary-market DEX liquidity, which can cause the flrEUR market price to deviate from its EUR peg.

  • Governance

    Due diligence, collateral approval and lending-term decisions are currently centralized with the Florence team, with decentralization to FFM governance stated only as a future goal, creating key-person and centralization risk.

  • Smart Contract

    Vaults, tokens and Treasury are governed by smart contracts; despite audits and a multi-year live track record, contract bugs or exploits could impair funds. The protocol depends on cross-chain deployments across Arbitrum, Base and Ethereum.

  • Regulatory

    Providing euro-denominated private credit to European SMEs and issuing a EUR-pegged instrument exposes the protocol to evolving EU financial-services, lending, securities and MiCA-style regulation across multiple jurisdictions.

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