Goldfinch
A protocol for unsecured stablecoin loans to vetted borrowers — focused on emerging-market credit.
Goldfinch funds borrower pools via a Senior Pool (passive USDC lenders) and Backers (active under-collateralised tranche). Realised credit losses have been larger than originally modelled; mark-to-market book values were re-cut in 2024.
Related terms
- Lending marketA pool-based protocol where suppliers earn interest from borrowers, with rates set algorithmically by utilisation.
- RWA (real-world assets)Tokenised off-chain assets — Treasuries, money-market funds, credit pools, real estate — used as on-chain collateral or yield products.
- MapleAn institutional credit protocol — pool managers underwrite under-collateralised loans to KYC'd borrowers.