About Exceed Finance
Updated 11 November 2026
Exceed Finance is a private credit company. It invests in secured US loans and pays holders of its digital note, exUSDC, a fixed 10% a year in US dollars, credited every day and redeemable every week. Exceed Finance is the trading name of Horus Research LLC, registered in Saint Vincent and the Grenadines. It was founded in 2023 by Roman Arbuzov, a former Executive Director at J.P. Morgan, with twelve years at investment banks and the CFA charter.
Investing a larger amount? The founder takes calls. Book a call with Roman Arbuzov.
What we do
The note's interest is paid from a portfolio of secured US loans: consumer credit (auto loans and home equity lines of credit originated by Figure, a Nasdaq-listed lender), secured corporate loans, corporate bonds and the money market. The loans earn single-digit rates; financing part of them with repo at a lower rate takes the note's rate to 10%.
The dollar note launched on 5 October 2024 (as pUSD; it moved to the exUSDC token in June 2025). Holders have been credited interest every day since, and the note has never had a loss.
Exceed's own capital, built to 5% of the notes outstanding and invested alongside them, takes the first loss. Its level is published every week.
The company
| Trading name | Exceed Finance (exceed.finance) |
| Issuer | Horus Research LLC |
| Registered office | Euro House, Richmond Hill Road, Kingstown, Saint Vincent and the Grenadines |
| Founded | 2023 |
| Founder | Roman Arbuzov, a former Executive Director at J.P. Morgan, with twelve years at investment banks and the CFA charter |
| Governing document | Terms and Conditions of the Notes, English law |
| Main note | exUSDC, Solana mint 8B9vL4c9w5HiyFXdPT8Z8hgFvSeZ14Y5DxjCZyRSTf4z |
| Other notes | exSOL (pays in SOL), exBTC (pays in bitcoin) |
| Audit | Quantstamp, smart contracts |
| Contact | info@exceed.finance |
Not to be confused with
Several unrelated products and companies use similar names. Exceed Finance's exUSDC is the Solana note with the mint address above, issued by Horus Research LLC.
- exUSDC is not Exactly Protocol's exaUSDC, a lending receipt token on Optimism and other chains.
- exUSDC is not the Excellion USDC Vault, a vault token on Avalanche.
- Exceed Finance is not related to other businesses called Exceed, such as lenders, brokers or brands of that name.
How to check us
Every wallet that holds the portfolio is published at exceed.finance/verify with its live positions, the redemption record is on chain, Quantstamp audited the smart contracts, and DeFiLlama tracks the notes independently.
Questions
- Who runs Exceed Finance?
- Exceed Finance is the trading name of Horus Research LLC, registered in Saint Vincent and the Grenadines. It was founded in 2023 by Roman Arbuzov, a former Executive Director at J.P. Morgan, with twelve years at investment banks and the CFA charter.
- What is exUSDC?
- A digital note issued by Exceed Finance on Solana that pays 10% a year fixed in US dollars, credited every day and redeemable every week, backed by a portfolio of secured US loans.
- Is exUSDC the same as exaUSDC?
- No. exaUSDC is Exactly Protocol's lending token. exUSDC is Exceed Finance's note on Solana, mint 8B9vL4c9w5HiyFXdPT8Z8hgFvSeZ14Y5DxjCZyRSTf4z.
Exceed Finance is the trading name of Horus Research LLC, the issuer of exUSDC under the Terms and Conditions of the Notes (English law). This website does not constitute an offer, a solicitation or investment advice. The rights and obligations of the parties, including the rate and any fees, are governed solely by the Terms and Conditions, which prevail in the event of any inconsistency. Past performance is not a reliable indicator of future results.