VEND makes the asset legible.
Connect machine activity, payments and operating history to a persistent financial record.
Docs / PublicVEND DOCUMENTATION
Credit infrastructure
for the machine economy.
VEND turns live machine activity into standardized financial profiles, continuous monitoring and servicing infrastructure for productive-asset credit.Enter the docs
Public documentation · Product and infrastructure overviewPUBLIC EDITION
[ 01 ]
Why VEND
Machines produce cash flow continuously. Credit still sees fragments.
VEND makes productive assets legible to credit without replacing the institutions that own the credit decision.
Credit partners make the decision.
External partners set policy, structure terms, approve credit and provide capital.
VEND is not the lender, underwriting decision-maker, balance-sheet lender or fund manager.
[ 02 ]
The VEND layer
One operating and financial layer between machines and capital.
The systems and financing wrapper can vary. The VEND infrastructure remains persistent.
INPUTMachine systems
INPUTPayment systems
INPUTOperator systems
Unified operating + financial recordNormalized machine-level data · Financial profiles · Monitoring · Servicing
DECISIONCredit partners
PRINCIPALCapital providers
POTENTIAL CAPITAL WRAPPERSAlternative structures—not mandatory sequential phases.
Direct facility
SPV / notes
Fund
Tokenized structure
The financing wrapper can change. VEND does not.The wrapper follows the buyer.
[ 03 ]
Standardized data / credit layer
Different systems become the same reusable credit objects.
VEND normalizes heterogeneous machine, payment and operator records into a consistent layer for financial profiles, monitoring, servicing and reporting.
Usage, uptime, activity and asset-condition context.
Financial activity, revenue and reconciliation evidence.
Broader borrower and location context.
NORMALIZATION RECONCILIATION STANDARDIZATION
01Machine identity
02Operator + location mapping
03Revenue history
04Payment + settlement activity
05Utilization + uptime
06Asset-condition signals
07Repayment status
08Servicing record
[ 04 ]
Underwriting support
Better evidence for the institution that owns the decision.
VEND provides the standardized evidence and workflow. The relevant credit partner defines policy and decides whether capital moves.
- Normalized machine + operator data
- Financial profiles
- Monitoring signals
- Servicing + reporting support
- Underwriting policy
- Advance rate + pricing
- Approval or rejection
- Credit decision + workout rights
Cash-flow test
Can stressed operating cash flow support debt service?
Asset test
What equipment value may be recoverable?
Operator test
Who operates the asset, and what does the operating history show?
Settlement test
How can payment visibility support servicing and repayment discipline?
VEND supports underwriting. It does not make the underwriting decision.
[ 05 ]
Continuous monitoring + servicing
The value does not stop at origination.
Traditional equipment finance periodically asks, “How did the borrower perform?” VEND continuously asks, “How is the financed asset performing now?”
01Machine + payment activity
02Normalized operating record
03Financial profile
04Monitoring signal
05Lender review
06Servicing action
Strong debt-service capacity and stable operating performance.
Adequate coverage and normal operating performance.
Coverage or operating trends require closer monitoring.
Credit-partner review may be required.
Signal thresholds and actions are calibrated with the relevant credit partner. Public documentation does not expose internal numerical working bands.
[ 06 ]
Operating proof
Distribution scale and live VEND data are different forms of evidence.
The CoinUp network provides an anchor distribution environment. The live VEND data layer shows what VEND has actually indexed and standardized today.
ANCHOR NETWORKCoinUp distribution context
Partner footprint780+
CoinUp locations
Network users500K+
Partner-network users
Monthly cycles1M+
Partner-machine activity
LIVE VEND DATA LAYERCurrent scanner source of truth
Connected assets118
Active asset nodes
Indexed records24,459
Current VEND POC index
Operating identities2,929
Indexed identities
Proof coverage100%
Records with transaction proof
LIVE PRODUCT / MACHINE FINANCIAL RECORDMachine activity is now readable as a 30-day financial and operating profile.
Inspect live machine records The product separates earned machine revenue from kiosk top-ups, then connects the operating history to normalized fields and traceable evidence.
Actual observed 30-day machine-use records, with comparison logic separated from the headline revenue total.
One compact 30-day view makes the productive machine readable without turning it into a retail investment product.
Source-native operating events become a consistent VEND machine financial record.
Transaction-linked references remain available as the verification layer behind the financial profile.
ECONOMIC CLASSIFICATIONMachine use = earned operating revenueKiosk = top-ups tracked separately
Partner-network figures are not VEND assets, revenue, assets under management or funded loans. Live VEND figures are loaded from the same current scanner index used by the POC.
[ 07 ]
Credit evidence / operating economics
Operating evidence should reveal both strength and constraint.
The public edition shows the decision logic while withholding store-level economics and working financing assumptions.
Observed Korea cases show meaningful modeled coverage under the current working structure.
Multiple Mongolia locations demonstrate performance beyond a single pilot asset.
Early Kazakhstan locations remain visible because not every asset should qualify on the same terms.
PRIVATE DETAIL WITHHELD
Store-level CAPEX, monthly cash flow, modeled debt service, DSCR bands and the detailed campus economics are available in qualified private diligence.
[ 08 ]
First real credit execution
Start with a small number of real facilities. Prove the full loop.
CoinUp, VEND and Honors are progressing toward the first live Korea machine-credit execution, beginning with a small number of real facilities.
Machine deployment · operator network · operating context
Data · financial profiles · monitoring · servicing
Credit structuring · underwriting · credit policy
Funding subject to approval and agreed structure
CURRENT WORKSTREAMStart with 1–2 real facilities.
Prove underwriting, deployment, repayment and monitoring end to end. No facility is presented as closed or committed.
[ 09 ]
Capital paths / origination pools
Capital scales only when both sides can scale.
Large deployment claims are not useful without qualified assets and validated buyer demand. Deployable capital is constrained by both.
DEPLOYABLE CAPITAL=MIN(
QUALIFIED ORIGINATION CAPACITY
,VALIDATED CAPITAL DEMAND
)Run the first real machine-credit execution from selection through repayment and monitoring.
Reuse the same credit objects across more locations, operators and facilities.
Add repeatable origination and independent institutional capital sources.
Extend the infrastructure across machine categories and capital networks.
Potential origination pools include new locations, repeat operators, university infrastructure, equipment replacement and overseas rollout. Capacity follows qualification and execution—not a top-down TAM.
[ 10 ]
Business model
Capital providers earn the credit return. VEND earns infrastructure revenue.
VEND monetizes the infrastructure around qualified machine credit without presenting unvalidated pricing as a universal commercial term.
Facility setup & activation
Data onboarding, financial-profile preparation, servicing configuration and lender-reporting setup when a qualified facility enters production.
Servicing & Data
Machine-performance monitoring, repayment tracking, standardized credit records, portfolio signals and lender reporting for outstanding financed portfolios.
Network integration
Dedicated onboarding for a new operator, OEM, payment system, controller stack or machine network.
Enterprise platform
Enterprise access to VEND infrastructure, data products, APIs and portfolio monitoring as the network matures.
VEND REVENUE=
Facility activations × activation fee
+Average serviced balance × servicing fee
+New networks × integration fee
+Enterprise contracts × subscription
Pricing, fee basis and payer allocation remain subject to commercial validation through live facilities and partner discussions.
[ 11 ]
Compounding / aligned economics
Operating history compounds into infrastructure advantage.
The moat is not token emissions. It is the accumulated operating, integration and financing history that makes the next asset easier to understand and service.
01More financed machines
02More operating history
03Better data
04Richer operator profiles
05More useful monitoring
06More capital confidence
07More deployment
Operating historyMachine integrationsNormalized dataFinancing lifecycle dataServicing integrationDistribution
[ 12 ]
Product roadmap
A persistent layer from connected machines to scaled credit networks.
Finance is no longer a distant theoretical phase. The immediate work is the first live credit execution while the data, intelligence and servicing layers continue to mature.
- 01LiveConnect
Machine identity, payment events, operator mapping and persistent operating records.
- 02Live / BuildingIntelligence
Normalized revenue, utilization, uptime and machine-level financial profiles.
- 03In ProgressUnderwriting support
Credit-test inputs, debt-capacity analysis and credit-partner-defined reporting.
- 04First facility in progressFinance
Connect qualified operators and assets to external underwriting and capital.
- 05Buyer-led / expandingAsset / capital wrappers
Support direct facilities, SPVs, funds or tokenized structures where the buyer requires them.
- 06Long-term scaleNetwork
A persistent data, monitoring and servicing layer across operators, assets and capital providers.
VEND becomes the persistent data, monitoring and servicing layer connecting machine operators to credit partners and capital.