A Decentralized Solution to Long-Term Capital Markets — Executive Summary Secured Finance is a decentralized finance (DeFi) platform that provides a unique solution to the liquidity problem in the industry. Our protocol enables peer-to-peer lending and derivatives trading for fixed-income investments and hedging, offering a more efficient and cost-effective alternative to traditional financial institutions.

Demystifying Interest Rates Composability for Large-Scale Derivatives’ Applications — Introduction The previous article explained several components of developing capital markets for cryptocurrency and digital assets. The yield curve is briefly introduced as a continuous plot of interest rates. In this article, we’ll dive deeper into connecting interest rates to build the yield curve, discuss composability and scalability, and then explore…

Highlights from the Panel Discussion — On April 21, 2023, CoinDesk Japan hosted the event “DeFi Meets TradFi” (participant introduction and event report). As Web3 has been formally established as a key component of the Japanese government’s growth strategy, it has attracted considerable attention. This event represented the inaugural endeavor with a specific focus on DeFi…

〜 パネルセッションの一部を紹介 〜 — 2023年4月21日、CoinDeskジャパン主催のイベント『DeFi meets TradFi』が開催されました（紹介記事・イベントレポート）。Web3が日本の成長戦略として注目される中、今回のイベントはDeFiに特化した初の試みとなりました。自民党web3PTをリードする政治家、Web3を牽引する創業者、世界を代表するDeFiプロジェクト、大手金融機関、法律家など、各分野のエキスパートが一堂に会し、テクノロジーと規制の両面から意見交換を行いました。本記事では、盛り上がったパネルセッションの後半部分をご紹介いたします。(English transcript here) 登壇者・モデレーター（敬称略） 菊池 将和：Secured Finance AG Founder & CEO 工藤 秀明：野村ホールディングス株式会社 デジタル・アセット推進室 エグゼクティブ・ディレクター 河田 雄次：株式会社 三菱総合研究所 主任研究員 増田 雅史：森・濱田松本法律事務所 パートナー弁護士 金光 碧：株式会社bitFlyer Head of Crypto Strategy Dept.

An Explainer of the First Swap between the World Bank and IBM — Introduction So far, we have explained the importance of the yield curve for building capital markets, which enables loans and swaps. Our goal is to build long-term forward markets for cryptocurrencies and digital assets, which could scale to a trillion-dollar business. …

Discover the Power of Yield Curve and Derivatives Structuring — Introduction We learned that the yield curve provides trading and hedging opportunities in the previous article. In fact, it also enables structured products such as structured loans, bonds, and swaps. This article presents two kinds of structured products to reduce financing costs for corporate capital management. …

Unlock Innovation for Institutional-grade Decentralized Finance — Introduction Cryptocurrency is not cash equity; it is the currency that comes with banking-level businesses, using loans and swaps to enable various trading and hedging strategies. In decentralized finance, the yield curve is the final piece completing full-range financial markets. This article presents three strategies to reveal the yield curve’s power…

A missing piece to complete institutional-grade finance — Introduction In cryptocurrency, most lending service on decentralized finance (DeFi) projects provide pool-based yield farming. In traditional finance classification, this market could be categorized as a money market, however; we haven’t seen a capital market so far. We discuss how to build the capital market for crypto currency to achieve full-scale…

10 Steps to Building a Full Range of Decentralized Finance — Introduction This article will show a long-term trajectory of Decentralized Finance until a wide range of people can access the financial system using distributed ledger technology (DLT). Decentralized finance may reduce or eliminate the need for a middleman, enabling financial services at everyone’s hand; however, it is still in the early…