The only collateral that repays part of your credit for you
Gold, silver and ETH generate a real yield, automatically reinjected into your credit, up to 60% repaid without lifting a finger.
The only collateral that repays part of your credit for you
Gold, silver and ETH generate a real yield, automatically reinjected into your credit.
1. You deposit gold, silver or ETH
These assets are pledged exactly like a stablecoin, at the same credit ratio.
2. Their price moves, the appreciation works for you
Every real rise observed since the deposit automatically reduces the credit used.
3. Up to 60% of the credit repaid without lifting a finger
The rest (40% minimum) is repaid through personal contribution, as with any other asset.
All eligible assets
Eight assets benefit from the same real automatic repayment-by-appreciation mechanism, not just the gold, silver and ETH highlighted above.
| Category | Assets | Additional indicative target |
|---|---|---|
| Precious metals | XAUT, PAXG (or), KAG (argent) | None |
| Native cryptocurrency | ETH | None |
| Industrial metals & commodities | XPT, XPD, XCU, WTI | 8 to 14% APY (detail on RWA Strategy) |
| Stablecoins | DAI, USDT, USDC, dEURO, SHIB* | Not eligible (fixed value or too volatile*) |
* SHIB is not a stablecoin but remains excluded from the mechanism: its volatility is judged too high to support reliable recurring repayment.
Industrial metals and commodities therefore combine two distinct mechanisms: the real automatic repayment described on this page (identical to gold, silver and ETH), and an indicative yield target specific to the bank's treasury strategy on these assets, presented separately and never guaranteed.
12-month performance
The real prices of yield-generating assets, over the last 365 days (the maximum available via our market data provider, with no commitment as to their future performance).
A concrete example
You deposit $2,000 of tokenized gold (XAUT), at a price of $2,400 per ounce: your collateral represents around 0.833 ounces. At the 350% ratio, a credit of $7,000 is granted to you, and the automatic yield repayment cap is therefore $4,200 (60% of $7,000).
The price of gold rises to $2,500 per ounce: the observed appreciation ($100 × 0.833 ounces ≈ $83) is automatically applied to your used credit, on the very day it's observed. This mechanism repeats with every subsequent price rise, until the $4,200 cap is reached.
If the price then falls, nothing is taken back from you: the appreciation already applied remains locked in to your credit (a "ratchet" that only ever moves upward). However, no new automatic repayment occurs until the price exceeds the level already reached.
Once the 60% cap is exhausted, the remaining credit balance (at least 40%, here $2,800) must be repaid by an explicit contribution from you (deposit or transfer), just like with any other credit.
Timeline over several months
The same example, extended: the price of gold keeps rising over several months, until the 60% cap is reached.
| Month | Gold price | Repaid this month | Cumulative repaid |
|---|---|---|---|
| 0 (lock-in) | 2 400 $ | — | 0 $ |
| 1 | 2 500 $ | 83 $ | 83 $ |
| 2 | $2,470 (drop) | 0 $ | 83 $ |
| 6 | 3 200 $ | 583 $ | 666 $ |
| 11 | 7 448 $ | 3 534 $ | $4,200 (cap reached) |
In month 2, the price drops: no repayment occurs that month, but the $83 already applied in month 1 remains locked in (ratchet). Once the $4,200 cap is reached in month 11, no further automatic repayment occurs on this position, even if the price keeps rising.
The opposite risk: liquidation
The mechanism above benefits from a rise in price. A drop is handled separately, by a distinct mechanism: the value of your collateral is compared daily to its entry value (the one observed at the time of lock-in), not to the last price that triggered a repayment.
In the event of a depreciation of at least 30% from the entry value, an alert appears on your account, with no other effect. At 50% depreciation, your collateral is automatically removed from the account (liquidated) at its entry value. The credit you had already used is not erased as a result: it remains fully due, now with no collateral backing it. Liquidated collateral cannot be returned, even if the price recovers afterwards.
The contractual detail of this mechanism is in our terms and conditions, section 7.
Worked example
Let's take the same $2,000 deposit of gold at $2,400 per ounce ($7,000 of credit granted), but this time the price of gold falls instead of rising:
- at $1,680 per ounce (-30%): an alert appears on the account, with no other effect;
- at $1,200 per ounce (-50%): the collateral is liquidated. The $2,000 of collateral and the $7,000 of credit granted are removed from the account. If you had already used $1,500 of this credit (card, internal spending), that $1,500 remains due, with no collateral behind it anymore.
Frequently asked questions
Is the yield guaranteed?
No. It depends entirely on the actual price movement of your collateral. If the price never rises above your entry price, no automatic repayment occurs: you then repay the full amount through personal contribution, exactly as with a stablecoin.
Why don't stablecoins (USDT, USDC, DAI…) generate any?
A stablecoin is by design pegged 1:1 to the dollar: by definition, it has no appreciation to realise. Repaying it remains just as simple, though, through personal contribution.
How often is automatic repayment calculated?
Daily, based on the live spot price of your asset, with no action on your part, and visible in your transaction history under the label "Repayment via collateral yield".
Does the "ratchet" protect me if the price drops?
It only protects repayments already applied: they remain locked in, whatever happens next. It does not protect against liquidation, which is triggered relative to your collateral's entry value, not relative to the ratchet (see "The opposite risk" above).
If I deposit several different assets, how does it work?
Each credit request commits to a single collateral asset, fixed at the time the deposit address is generated. To deposit a second asset, you submit a new request: each position then follows its own appreciation, its own 60% cap, and its own liquidation risk, independently of the others.
Can I see the history of my automatic repayments?
Yes, in your account's transaction history, under the label "Repayment via collateral yield" (a distinct movement from a manual repayment, to remain separately auditable).