Pendle Finance has introduced a new fixed-yield market for Senior nOPAL (srnOPAL) tokens. The product offers an annual percentage yield of 11.59%, backed by short-term Brazilian credit card receivables.
The nOPAL vault, issued by BlackOpal Finance on the Plume Network, uses a tiered structure. Junior capital provides a first-loss buffer of approximately 15% to protect senior holders from potential defaults.
The market launched on September 15, 2026, and is scheduled to mature on January 7, 2027. The yield is denominated in USD and includes a hedge against foreign exchange fluctuations.
BlackOpal Finance reports over $200 million in institutional backing and claims a zero default rate on its underlying assets over more than 25 years. The receivables are settled via Visa and Mastercard.
Pendle’s total value locked in real-world asset products has surpassed $1 billion. This new offering follows a previous nOPAL market that matured in mid-September 2026.
