At the core of the collaboration is the integration of Enzyme’s Onyx solution with Particula’s RWA risk‑intelligence framework. Enzyme Onyx provides a technology stack for issuing and administering tokenized funds and instruments, including ETPs and structured notes. Particula applies its rules-based methodology to deliver independent risk ratings and ongoing monitoring across structural design, counterparty risk, underlying asset quality, and other key risk factors.Together, the integration creates a unified environment enabling issuers to design, launch, and scale tokenized products with embedded risk assessment capabilities from inception.

‍A Product Partnership Designed for the Next Wave of RWA Issuers

This partnership offers RWA issuers a streamlined way to design, launch, manage, and distribute tokenized financial products onchain. Key capabilities include:

• Build products aligned with recognized industry best practices.
  
  
• Embed transparent, real time risk ratings to strengthen investor trust.
  
  
• Leverage modular risk, compliance, and lifecycle tooling natively integrated into the product’s smart contracts.
  
  
• Tap into a growing distribution network of onchain allocators and marketplaces.
  
  
• Position your offerings competitively as true institutional-grade investment instruments.
  
  

“This partnership meaningfully reduces the friction allocators face when evaluating and deploying capital into structured onchain products. With Particula’s ratings integrated, allocators can finally access risk-assessed RWA opportunities with clarity and confidence”, said Luca Mossini, Enzyme.

Independent Risk Assessment as a Market Standard

As the RWA market matures, third-party risk differentiation is becoming increasingly important for capital allocation decisions. Particula's framework generates granular, machine-readable risk scores across credit, commodity-backed, receivable-based, and structured RWA products, which can be integrated into Enzyme Onyx vaults.

This allows issuers to:

• Demonstrate greater transparency and credibility with investors and regulators.
  
  
• Attract capital markets participants who require institutional-grade risk frameworks
  
  
• Compete more effectively in a market where risk premiums and ratings increasingly guide capital flows
  
  

“Enzyme makes it possible for issuers to create tokenized products seamlessly while embedding risk ratings at the very beginning of the design process. This raises the standard for RWA structuring onchain”, said Nadine Wilke, Particula.


*Disclaimer
Particula maintains full independence in its assessment processes. This partnership pertains exclusively to technical infrastructure integration and does not influence Particula's analytical independence, methodologies, assessment criteria, or risk rating determinations. All instruments utilizing Enzyme infrastructure are subject to Particula's standard rules-based assessment criteria and methodologies, applied consistently without modification, preferential treatment, or commercial consideration. Particula maintains internal policies to identify, manage, and disclose actual and potential conflicts of interest in accordance with industry best practices.

About Enzyme

Enzyme is a global leader in Tokenized Finance Infrastructure, providing industry leaders with advanced solutions to issue, manage and scale tokenized products and strategies. Since 2017, Enzyme has evolved from a pioneer in on-chain asset management to a trusted and global infrastructure partner for businesses navigating the tokenized economy. Our solutions include Enzyme Onyx, a core technology stack for issuing and administering tokenized funds and financial instruments, and Enzyme Myso, a leading protocol for creating and managing on-chain options.

About Particula

Particula is the prime rating provider for digital assets, transforming on- and off-chain data into actionable insights. The company delivers next-generation risk ratings and comprehensive analyses, across technical, economic, governance, and compliance dimensions – providing the clarity and confidence needed to navigate the complexities of digital finance.