Goldfinch

Some of the largest private credit managers in the world have spent the last few years figuring out how to put their funds onchain

Lesson in there

Trading stocks and bonds used to be done in person on paper

Then it was brought online

Next it will be brought onchain

DeFi spent years trying to build trust from scratch

Private credit brings trust onchain that already exists

The tokenization of traditional financial products onchain is the biggest thing to happen to crypto since the invention of the smart contract

Funds like Blackstone and Apollo manage over a trillion dollars in loans

Now thanks to crypto, more people get to be on the right side of them

Tokenization is like better plumbing for finance

Private credit might not be the most trendy topic on social media

But it will quietly becomes one of the largest categories in tokenized RWAs

Imagine explaining to someone in 2019 that BlackRock's corporate lending fund would be accessible via USDC on a public blockchain

They would never believe you

But here we are

It’s a great day for more RWAs onchain

Not all of us are meant to watch candles all day

Some of us just want 10% from real loans and a good night's sleep

Finance doesn't move onchain just because we asked them nicely

It moves because the infrastructure finally works

The next trillion dollars in DeFi won't come from crypto natives

It'll come from assets that already exist in the real world

Stablecoins made onchain payments real

RWAs are making onchain investment real

Crazy how you can just deposit USDC and get exposure to Apollo now

People debate whether crypto will replace traditional finance

The more likely outcome is that traditional finance gradually moves to better infrastructure

The same way trading moved from floors to terminals

Not replacement

Migration

The RWA conversation used to be theoretical

What if you could tokenize a bond?
What if a treasury fund lived onchain?
What if private credit was accessible onchain?

Now these questions are becoming a reality

The most interesting thing happening in crypto right now is RWAs

Every generation builds new financial infrastructure

Bonds moved to exchanges

Exchanges moved to screens

Now the loans, funds, and credit markets are moving to blockchains

Same pattern, different rails

Credit markets: $10 trillion+

Equity markets: $100 trillion+

Big opportunity there

There's a reason private credit has outperformed public credit for most of the last decade

Less liquidity, more yield

Investors gave up the ability to exit quickly in exchange for better returns

Onchain doesn't change that tradeoff

It just makes the entry point more accessible