TagFinancial Infrastructure

RWA#5 – All you need is Bond – Pt2

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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

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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 backbone of cross border transactions: correspondent banking

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A few weeks ago, while preparing my 10k analysis for Adyen, I came across a very interesting McKinsey report on Payments and stumbled into the following table on cross-border transfer flows and revenues:    What really surprised me, even more than the huge revenue chuck of the B2B segment, was the disproportion between consumer and business segments and, at the same time, the...