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Laser Digital to serve as risk governor for DeFi lending markets
The deal targets Euler Finance as the first launch venue, where Euler has $368.8 million in total value locked and $555.4 million in outstanding borrows across 17 chains.
Nomura’s digital asset unit, Laser Digital, is moving into DeFi lending by taking on a “risk governor” role for institutional lending markets built using Keyring Network infrastructure, with the first markets prepared for Euler Finance.
According to The Defiant, Keyring will supply the tooling and infrastructure for specific lending and borrowing markets, including access verification, quantitative risk parameterisation, and liquidation framework design, while Laser Digital’s asset management division will provide governance standards, portfolio structuring, and market practice. The companies said responsibilities will be set contract by contract, and they did not disclose committed capital, fee terms, or a launch date.
The announcement also outlines four barriers the companies say have kept institutions out of DeFi lending: permissioning, exploit risk, governance, and settlement. Their proposed approach combines zero-knowledge permissioning, quantitative risk modelling, cyber insurance, and Keyring’s settlement technology, which it calls [un]wind.
The Defiant reported that Euler has $368.8 million in total value locked across 17 chains and $555.4 million in outstanding borrows, with the largest share on Monad at $240.6 million, followed by Ethereum at $88.9 million and Base at $18.9 million. Euler has earned $1.48 million in fees over the past 30 days, and the announcement notes the first markets are ready to go live on Euler Finance first, with expansion to other partners and products in a phased manner.
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