Change Lending, LLC (“Change Lending”), the wholly owned subsidiary of The Change Company CDFI LLC (“Change”), and Profitr Holdings, Inc. (“Profitr”) today announced a long-term strategic partnership to launch a blockchain-native marketplace for tokenized residential mortgage loans.
In furtherance of this partnership, Profitr acquired Change subsidiary xChange Hub, Inc. (“xChange”). xChange is an online marketplace for residential mortgage loan purchases that connects institutional investors – including banks, insurance companies, asset managers, REITs, and other qualified purchasers – with qualified residential mortgage originators. Profitr will enhance the xChange platform to list and trade on-chain, tokenized mortgage loans utilizing Profitr’s industry leading smart contracts, tokenization, AI analytics, and blockchain technology. The long-term strategic partnership brings together Change Lending’s existing institutional buyer network and wholesale origination channel with Profitr’s tokenization, custody, and trading infrastructure.
Under the terms of the partnership, Change Lending has named Profitr its exclusive tokenization partner for the listing and sale of its mortgage loans. Profitr will use its technology to offer investors a multi-originator, single-issuer marketplace. Profitr will continue to build its independent, originator-agnostic platform for the tokenization and sale of investable private credit assets. Through its acquisition of xChange and partnership with Change Lending, Profitr is entering the market for tokenized residential mortgage loans – building on its existing tokenization marketplace for private credit assets.
Change Lending’s existing network of qualified purchasers will gain access to Profitr’s blockchain rails, tokenization capabilities, AI analytics, and smart contracts. Change Lending’s origination partners will benefit from improved execution and the ability to originate loans tailored to the needs of investors on the Profitr platform.
Change Lending is a leading originator of prime mortgage loans for institutional investors, including banks, insurance companies, asset managers, REITs, and other aggregators. Its originations are primarily first-lien residential mortgage loans, with average FICO scores exceeding 740, and average LTVs below 75%. Change is approved as a seller-servicer by Fannie Mae, Freddie Mac, and Ginnie Mae, and an approved originator for FHA, VA, and USDA. It is licensed in 48 states, a member of the Federal Home Loan Bank of San Francisco and certified as a Community Development Financial Institution by the U.S. Department of the Treasury’s CDFI Fund.
“Change Lending is excited to partner with Profitr for the tokenization, asset management, and distribution of high-quality residential mortgages,” said Steven Sugarman, Founder of Change. “As one of the industry’s most innovative lending platforms, Change Lending is again breaking new ground in the mortgage market. Change’s partnership with Profitr positions us to deliver greater liquidity and more flexible capital solutions for originators and borrowers while giving investors a transparent path to high-quality, tokenized U.S. residential credit.”
“Completing this transaction and partnering with Change is a major milestone for Profitr,” said Harlan Peltz and Ian Epstein, Co-CEOs of Profitr. “Change’s team and products accelerate our position with respect to the tokenization of residential mortgage loans for institutional investors. Our partnership with Change also deepens our relationships with buyer counterparties and reinforces Profitr’s leadership in the tokenized ecosystem. We look forward to a seamless integration that will expand our marketplace and deliver a more efficient, best-in-class experience for every originator and investor on the platform.”
Platform Capabilities
Profitr enables compliant secondary purchases and sales of institutional-grade, real estate-backed loans, tokenized using Profitr’s industry leading smart contract technology on the Avalanche blockchain, to bring liquidity, efficiency, and transparency to real estate loans. This allows lenders to move on-chain for operational efficiency and improved distribution. The partnership with Change Lending provides access to billions of dollars of prime originations secured by first liens on U.S. real estate. Profitr’s partnership with Change Lending is committed to building the definitive independent multi-originator marketplace for the purchase, sale, and trading of residential mortgages.
Profitr’s technology enables instantaneous settlement, real time interest accruals, interest paid on demand, and the ability to own participating interests in loans, with or without leverage. It reduces the need for intermediaries, provides full transparency, and simplifies the ownership and transfer of investments. The platform uses a familiar web interface on blockchain rails providing institutional users the experience of a conventional platform with the transparency and settlement speed of on-chain infrastructure.
Market Opportunity
The U.S. private real estate credit market is estimated at roughly $4.8 trillion. Tokenized real-world assets, excluding stablecoins, currently stand in the $30 to $40 billion range, with major forecasts projecting multi-trillion-dollar scale by 2030. Regulatory clarity for payment stablecoins, including the recent guidance from the Office of the Comptroller of the Currency, is expected to support further growth in tokenization.
The digital-asset investor base offers substantial incremental demand for residential mortgages in tokenized form. The stablecoin market totals approximately $300 billion as of mid-October 2026, led by Tether’s USDT at over $180 billion and Circle’s USDC at over $70 billion. These pools, particularly stablecoin balances seeking yield, represent a meaningful source of capital for high-quality, real estate secured credit.
Profitr’s acquisition of xChange and long-term partnership with Change Lending will deliver:
- Asset Quality: Loans are fully funded, performing, and diligenced prior to tokenization. Change Lending is a rated originator and servicer and its portfolio has demonstrated strong credit metrics, proven underwriting, and the ability to scale.
- Nationwide Originations: Change Lending’s wholesale channel, serving over 10,000 loan officers, brings loans from across the country onto the platform. Originators can partner with Profitr directly as part of its independent, multi-originator, single-issuer marketplace.
- Tokenization and Trading: Profitr’s technology provides investors with real-time access to the underlying asset yields. Audited smart contracts support real-time interest accrual and transferability, reduce costs, and increase transparency. Blockchain records provide immutability and faster settlement than traditional whole-loan sales.
- Institutional Custody and Stablecoin Access: Integration with Anchorage Digital Bank, a federally chartered digital asset bank, to support stablecoin-agnostic, institutional custody.
- Liquidity Benefits: Expanding buyer pools to include institutional holders of stablecoins is expected to improve liquidity and execution certainty, reducing the long-term cost of capital.
- Product Focus: Tokenization of whole-loan interests in residential mortgages and bridge loans, with multi-originator inventory and direct loan-level exposure.
Profitr combines proprietary systems for loan digitization with blockchain rails and a straightforward user experience designed to meet institutional demand with reduced intermediary friction.
About Change Lending
Change Lending, LLC is the wholly owned subsidiary of The Change Company CDFI LLC. Licensed in 48 states, it is a leading mortgage originator, generating more than $5 billion in annual originations and approximately 10,000 loans per year. The company is profitable, maintains strong credit quality, operates as a rated servicer, and has issued more than $3 billion in securitizations rated by S&P and Kroll. It is a member of the Federal Home Loan Bank of San Francisco and approved by Fannie Mae, Freddie Mac, and Ginnie Mae as well as FHA, VA, and USDA.
About Profitr
Profitr Holdings, Inc. is a blockchain-native platform that partners with institutional-quality lenders and asset managers to tokenize and enable compliant secondary trading of fully funded, performing loans collateralized by U.S. real estate. It provides investors with fractional exposure, real-time interest accrual, transferability, and integrated custodial solutions via Anchorage Digital. Strategic partners include Republic, the global investment platform; iBorrow, the Los Angeles-based commercial real estate bridge lender; and Mercury Fund, a venture capital firm and seed investor in Profitr. The platform serves traditional and digital-asset investors seeking yield from high-quality private credit with blockchain efficiencies. In October 2026, Profitr acquired xChange Hub, Inc., an online marketplace connecting institutional investors with residential mortgage originators.
This press release contains forward-looking statements regarding the acquisition of xChange and the partnership with Change as well as Change and Profitr’s capabilities, market strategy, and expected opportunities and benefits. Actual results may differ based on market conditions, regulatory developments, technology implementation, and other factors. Market figures are approximate and based on publicly reported estimates as of mid-to-late 2026, including Polygon Research analysis of HMDA data for Non-QM originations and widely cited stablecoin and cryptocurrency ownership trackers. This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, including any interests in tokenized loans. Any such offer will be made only to eligible investors in accordance with applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20261104306734/en/
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