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EDU Pencil Finance incubated by Animoca Brands completes its first million-dollar on-chain student loan cycle
Pencil Finance incubated by Animoca Brands announced that it has completed a $1 million on-chain student loan cycle. This process covers the entire process from raising investors 'funds, recording repayments, and finally returning principal and proceeds.
The loan was issued by education financing company ErudiFi, and the decentralized lending agreement Pencil Finance packaged it into an on-chain private credit investment product. This model allows funders to provide capital and monitor repayments in real time through blockchain records.
Pencil Finance claims this is the first fully on-chain student loan cycle, but this claim cannot be independently verified. In July 2025, Animoca Brands, Open Campus and NewCampus provided financial support for the funding package.
Animoca Brands said on the X platform (formerly Twitter):"The agreement placed a total of US$10 million in loans to the borrower and operated through a repayment service, and then returned the principal together with the proceeds to the funders of the fund package. Every operation is transparently recorded on the blockchain."
This protocol runs on EDU Chain, an educational private network built on Ethereum and built using Arbitrum Orbit technology. Pencil Finance was incubated by Animoca Brands and the developer community HackQuest.
ErudiFi uses most of the funding package for student loans and tuition financing in Southeast Asia, covering countries such as Indonesia and the Philippines. According to the company, the funding supported the loan needs of more than 6,600 students at 118 institutions in 12 months, of which approximately 1,050 students directly benefited from Pencil Finance's financial support.
Investors are divided into two levels: Senior Tranche, which enjoys fixed returns and preferential claims; Junior Tranche, which provides variable returns and bears the primary loss caused by default.
According to ErudiFi, female borrowers account for 50% of its portfolio, 93% of borrowers come from low-income households, and 52% of borrowers are using formal credit services for the first time.
Frank Li, co-founder of Pencil Finance, said in a statement: "Education lenders in emerging markets are credit-qualified but often 'invisible.' Because global capital cannot verify its performance, it is difficult for funds to reach these institutions. Moving the loan cycle up changes this: every repayment is recorded in real time and can be audited by anyone. This package establishes a public credit history, making the next round of fundraising easier."
