Pendle Settles $69.8 Billion in Yield Bridging the $140T Fixed Income Market to Crypto

[PRESS RELEASE – Singapore, Singapore, October 21st, 2025]

Pendle is advancing the tokenization of yield in the decentralized finance (DeFi) sector, introducing mechanisms that align with established monetary rules. With the international fixed-income market projected to attain $198.58 trillion by 2030, Pendle’s strategy highlights a possible hyperlink between conventional monetary devices and decentralized methods.

This week, Pendle revealed a serious milestone: the protocol has settled $69.8 billion in fastened yield and facilitated over $6 billion in Total Value Locked (TVL), making it one among the most impactful real-world asset (RWA) purposes in DeFi to date. This announcement comes as Pendle expands its capabilities by integrating USDe yield markets in collaboration with Ethena, enabling tokenized entry to fastened yields in a crypto-native, clear surroundings.

“We’re constructing a world the place fastened revenue is programmable and permissionless,” Pendle acknowledged in a latest publish. “By integrating USDe yield markets and constructing the fixed-rate layer for RWAs, we’re laying the basis for establishments to entry DeFi-native fastened revenue at scale.”

Fixed-Income Market Potential

Pendle’s work targets one among the largest sectors in international finance: the fixed-income market, valued at $145.26 trillion in 2024 and projected to attain almost $200 trillion by 2030, rising at a 5.3% compound annual charge.

The international non-household debt market—intently linked to fastened revenue by company and sovereign bond issuance—has exceeded $150 trillion as of Q1 2025. This large and sophisticated market is historically dominated by gamers comparable to JPMorgan Chase, Goldman Sachs, BlackRock, Fidelity Investments, and The Vanguard Group.

Despite its scale, the fixed-income sector continues to face challenges associated to restricted transparency, accessibility boundaries for smaller individuals, and dependence on intermediaries. Pendle’s strategy seeks to introduce a extra clear and environment friendly mannequin by tokenized and decentralized fixed-income devices.

Pendle’s Distinct Approach

Pendle allows yield-bearing property to be divided into two parts: Principal Tokens (PT) and Yield Tokens (YT). This construction permits fastened yield to be programmed and traded inside a decentralized surroundings, mirroring a key aspect of the conventional fixed-income market.

Through its integration with numerous DeFi protocols, Pendle has expanded its fixed-rate yield capabilities. By creating fixed-rate markets for stablecoins and real-world property (RWAs).

These developments have attracted rising participation from each particular person and institutional customers. With greater than $69.8 billion in fastened yield settled and over $6 billion in whole worth locked (TVL) throughout Ethereum and different networks, Pendle has established itself as a number one protocol in decentralized fixed-income options.

A New Financial Frontier

Tokenizing the fixed-income market carries essential implications for international finance. Traditional fixed-income devices, whereas established and dependable, typically face limitations associated to accessibility and settlement effectivity. In distinction, tokenized fastened revenue introduces options comparable to:

  • Continuous liquidity and buying and selling
  • Global accessibility
  • Fractional possession with decrease participation thresholds
  • Interoperability inside decentralized finance (DeFi) methods

As institutional engagement with digital property expands, platforms like Pendle are contributing to the improvement of infrastructure that connects conventional finance with DeFi. The inclusion of fixed-rate devices supplies better predictability and helps threat administration—each important concerns for institutional market individuals.

At the time of writing, stablecoin-based fastened yields accessible by Pendle attain up to roughly 20%, in contrast with round 12% for CCC-rated high-risk company bonds. Pendle’s continued progress and file of yield settlements reveal the operational stability of its fixed-yield infrastructure, providing an alternate mannequin for fixed-income publicity inside decentralized markets.

Looking Ahead

Pendle’s work is extra than simply one other DeFi innovation — providing a framework that would allow broader entry to capital throughout conventional and decentralized markets. As the international monetary system regularly digitizes, the fusion of fixed-income markets and crypto infrastructure may redefine how worth is saved, transferred, and grown.

If Pendle maintains its present trajectory, it could facilitate the integration of the $140 trillion fixed-income market with digital property, contributing to the evolution of fixed-income merchandise inside the decentralized ecosystem.

Pendle has additionally lately introduced Boros, an progressive product that allows the buying and selling of funding charges from exchanges, permitting a future view of charges in DeFi

About Pendle

Pendle is the world’s largest crypto yield buying and selling platform, enabling the tokenization and buying and selling of future yield. Pendle facilitates fixed-rate and yield hypothesis methods in a permissionless and composable surroundings. The protocol helps real-world property, artificial {dollars}, and a wide selection of DeFi-native alternatives.

For media inquiries, customers can contact:

Pendle Media Relations

Email: growth@secrettune.io

Website: https://pendle.finance

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