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Gyld brings USD-denominated investment-grade and high-yield corporate bonds to blockchain rails. Freely transferable, collateralizable, and built natively for on-chain capital markets.
$300 billion in stablecoins sits on the blockchain, hunting for yield. Traditional assets have followed, debt, credit, equity, all tokenizing at pace. The tokenized asset market has expanded 28x in three years. Yet one category remains structurally absent: genuine single-name investment-grade corporate bonds.
Tokenized, composable USD corporate bonds. Each Gyld token is 1:1 backed by a real investment-grade bond held in a bankruptcy-remote structure, and freely transferable and composable across Ethereum and Solana DeFi.
Designed natively for on-chain composability. Transferable, collateralizable, and integrable across DeFi protocols.
Tokens move freely on-chain. Enable trading, collateral posting, vault construction and leveraged strategies without bank intermediaries.
Returns driven by issuer fundamentals and credit cycles, not by crypto market volatility or on-chain leverage dynamics.
No allowlist gate after issuance. Trade, lend against, or compose the token in DeFi without routing through Gyld.
Backed by bonds that trade in the world's most liquid credit markets. Five days a week. Both sides of the book.
US Treasuries set the risk-free floor. Investment-grade corporates trade at modest spread. High-yield rewards credit risk. Each Gyld bond plotted against the curve it lives on.
On-chain issuance changes the shape of the market for everyone, issuers gain distribution and speed, investors gain flexibility and access.
Tap $300B+ in on-chain stablecoin capital via DeFi, reaching allocators traditional syndication desks never touch.
No clearing layers, no nominees, near-instant settlement. Lifecycle costs compress materially.
Any clip size. Open to mass-affluent and emerging-HNW segments previously locked out by $200K minimums.
Coupons, redemptions and corporate actions automated on-chain. The bond becomes a piece of composable infrastructure.
Straightforward and cheap borrowing on DeFi venues, without bilateral ISDAs or tri-party friction.
Transfer or exit any hour, any day, outside bank settlement windows and market operating hours.
Daily NAV on-chain, independently verifiable. No NAV fax on Monday morning.
No minimums vs. the $200K+ clip required at private banks. Real access to investment-grade credit for the first time.
Issuers access on-chain capital in a fully arms-length manner, retaining legal and compliance control throughout. Gyld handles investor onboarding, AML screening, transaction monitoring, token issuance and redemption.
Annual independent verification and audited reserves back every token in issuance, not just self-attestation.
Gyld manages onboarding, AML screening, transaction monitoring and the full token lifecycle.
Standardised tokens, compatible with most exchanges and financing/repo markets.
Investor verification and AML screening happen once, at primary issuance. From that point on, a Gyld bond token is a standard on-chain asset, not a wrapped security with a gatekeeper. It carries the full composability of DeFi: free to trade, post as collateral, or build into any protocol, permissionlessly.
Trade peer-to-peer or on any DEX, any hour, without routing through Gyld or a centralized venue.
Post as collateral in lending and money markets like any other on-chain asset, no special integration required.
Vaults, structured products, perpetuals and yield strategies can build on Gyld bonds without special-casing the asset.
Issued as standard ERC-20 and SPL tokens. Standard rails, standard tooling, compatible out of the box.
The token moves whenever the chain does, weekends and holidays included, to any wallet, anywhere DeFi reaches.
"Permissionless" refers to on-chain transfer and composability once a token is issued to a verified holder. It does not describe who may become a primary investor, that remains subject to Gyld's onboarding and applicable law.
Gyld bond tokens are building blocks, not vaults. The two constructs below are hypothetical illustrations of what a DeFi curator or asset manager could build on top of Gyld bond tokens, combining traditional credit with on-chain yield. Gyld does not build, operate, manage or offer these vaults; they do not exist today.
Hypothetical construct: senior unsecured debt, the five largest US G-SIBs.
Investment-grade senior unsecured debt from the five largest US G-SIBs. 1.1-year average duration, CET1 ratios of 13–15%, meaningful credit spread over Treasuries with near-money-market rate risk.
Hypothetical construct: high-yield real-world credit meets on-chain basis yield.
The best of both worlds. High-yield bonds from mission-critical financial infrastructure companies, blended with fixed-rate on-chain yield from PT tokens and sUSDS. Real-world credit spread and on-chain basis in one portfolio.
These vault constructs are hypothetical and for illustration only. They are not products of Gyld, are not built, operated, managed or offered by Gyld, and no such vaults currently exist. They illustrate the kinds of strategies that partners, DeFi curators and asset managers could construct using Gyld bond tokens as a building block. Composition, allocations and yields shown are illustrative and not indicative of any actual or future offering.
Gyld On-Chain Bonds are available to institutional investors. Request access to the offering documents, term sheets, and current bond universe.