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Olá pessoal!
Today’s episode is with David Taylor, CEO and co-founder of Etherfuse, where we explore what might be the most overlooked infrastructure gap in crypto: tokenized sovereign debt.
Taylor’s thesis is compelling: while crypto has created an explosion of speculative assets, it lacks the foundational building block that underpins all traditional finance: the risk-free rate. In TradFi, everything is measured against government bonds. But onchain? That benchmark simply doesn’t exist, creating a critical missing link between the blockchain and traditional finance worlds.
His mission is to bring nations “onchain” by tokenizing their sovereign debt, starting with Mexico and now expanding into Brazilian Tesouro bonds.
Key Takeaways:
Infrastructure for onchain sovereign debt: Etherfuse positions itself as the AWS-like infrastructure layer for tokenized government bonds, handling regulatory compliance, security, and collateralization so builders can simply integrate and create financial products without recreating this complex foundation
The non-USD opportunity: While most attention focuses on dollar-denominated assets, emerging markets like Brazil, Mexico, and Argentina offer clearer regulatory pathways and stronger incentives for innovation with local currency stablebonds
Solving the liquidity problem: By combining yield-bearing sovereign debt with blockchain rails, stablebonds create natural incentives for liquidity in non-USD stablecoins - something the market has desperately needed
Democratizing access to sovereign yields: By tokenizing government bonds as interest-bearing stablecoins, Etherfuse removes the traditional barriers that limited sovereign debt access to institutions and high-net-worth investors, allowing anyone with a crypto wallet to earn these yields
Historical precedent matters: Taylor points out that successful economies historically started with bonds (Venice, Amsterdam, France), not just currency. Crypto needs to follow the same playbook
I really enjoyed this conversation with David and I hope you do as well. You can connect with him on Linkedin.
Have a great week everyone,
-AWS
Brazil Crypto Report is presented by
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