CategoryFinancial Infrastructure

RWA#5 – All you need is Bond – Pt2


The microcosm of DeFi has been highly successful in the last few years in creating a set of new financial rails based on a new paradigm.  These financial rails have been extensively used by a niche of power users who played with them in many different ways, with the clear goal of speculating.  So far, a very limited intersection exists between the new DeFi rails and off-chain economic...

RWA#3 – All You need is Bond


Over the last few weeks different DeFi projects have emerged, offering customers the opportunity to get exposure to the most common traditional securities on the market: US Treasury Bills.  The bridging of traditional securities on-chain is the clearest ongoing DeFi trend and this post aims to analyze the main projects and their impact on the evolution of the DeFi space. Convergence of on...

The banking system, a giant settlement infrastructure


A few weeks ago I noticed a tweet from one of the most interesting accounts I follow on Twitter, that of Holger Zschaepitz:  Oops! Italy's Target2 liabilities have hit fresh ATH at €513bn. This increases the threat potential of the Italians. If #Italy were to leave the eurozone, the bulk of its liabilities would be lost.— Holger Zschaepitz...