Finance did not begin with chasing returns. It began with trading risk. London, 1686. Merchants in a coffee house paid underwriters to carry the risk of losing a ship at sea. One side paid to shed a risk it could not afford. The other side was paid to hold it. That trade predates the Bank of England by eight years. Chicago, 1848. Grain merchants opened an exchange, and within a few years a farmer could sell a crop he had not yet harvested and lock in the price today. Chicago again, 1973. An options exchange opened, and Black and Scholes published the formula to price optionality itself. Risk now had a market price of its own. The 1990s. Credit risk was cut away from the bonds that carried it and traded on its own. Three centuries, one direction: risk went from something you carried to something you could trade. As our manifesto puts it, every financial system that scales eventually becomes a system for managing risk rather than chasing returns. Crypto compressed most of that history into less than two decades. Spot markets, lending, derivatives—each rebuilt on-chain at astonishing speed. But the final layer, the one TradFi spent the longest building, got skipped. And even TradFi never finished the job: risk there is explicit in language but implicit in implementation, locked inside bilateral contracts, fund wrappers, and gatekeepers. Risk, in TradFi, is a prisoner of its own packaging. That is the opening. Crypto doesn't need to evolve over three centuries; we can go straight to the end state: risk as a first-class, on-chain primitive that can be isolated, priced, transferred, and composed. If tokenization freed the asset from its wrapper, RiskFi frees the risk from the asset. This is what we are building. Not the next product category. The next layer of finance. The RiskFi Manifesto:

Finance is moving onchain as a stack. First dollars, then yield, then asset exposure, and now price discovery itself. Our Q2 2026 State of Onchain Finance report maps where each layer stands and where the money went.

Finance is being rebuilt on-chain. 1inch is providing the infrastructure. Intent-based swaps for tokenized stocks. Cross-chain swaps. An MCP for AI agents. Security at every layer. This is why the biggest protocols in DeFi chose 1inch.

Finance needs a new core ⚪ Today, Dfns enters a new chapter. We're no longer a wallet company. We're a 𝗰𝗼𝗿𝗲 𝗯𝗮𝗻𝗸𝗶𝗻𝗴 𝗽𝗹𝗮𝘁𝗳𝗼𝗿𝗺 𝙛𝙤𝙧 𝙙𝙞𝙜𝙞𝙩𝙖𝙡 𝙖𝙨𝙨𝙚𝙩𝙨. Blockchains are now part of how financial institutions move, settle, and control value. 24/7. Globally. They show up as stablecoins, tokenized funds, tokenized deposits, tokenized stocks, onchain settlement, digital collateral, and programmable treasury. And as finance moves onchain, the question changes. It's no longer: "𝘊𝘢𝘯 𝘸𝘦 𝘩𝘰𝘭𝘥 𝘢 𝘬𝘦𝘺? 𝘚𝘪𝘨𝘯 𝘢 𝘵𝘳𝘢𝘯𝘴𝘢𝘤𝘵𝘪𝘰𝘯? 𝘊𝘰𝘯𝘯𝘦𝘤𝘵 𝘵𝘰 𝘢 𝘤𝘩𝘢𝘪𝘯?" It becomes: "𝘊𝘢𝘯 𝘸𝘦 𝘳𝘶𝘯 𝘰𝘯𝘤𝘩𝘢𝘪𝘯 𝘸𝘪𝘵𝘩 𝘵𝘩𝘦 𝘴𝘢𝘮𝘦 𝘤𝘰𝘯𝘵𝘳𝘰𝘭, 𝘨𝘰𝘷𝘦𝘳𝘯𝘢𝘯𝘤𝘦, 𝘢𝘶𝘥𝘪𝘵𝘢𝘣𝘪𝘭𝘪𝘵𝘺, 𝘳𝘦𝘴𝘪𝘭𝘪𝘦𝘯𝘤𝘦, 𝘢𝘯𝘥 𝘳𝘦𝘨𝘶𝘭𝘢𝘵𝘰𝘳𝘺 𝘥𝘪𝘴𝘤𝘪𝘱𝘭𝘪𝘯𝘦 𝘰𝘶𝘳 𝘣𝘰𝘢𝘳𝘥, 𝘰𝘶𝘳 𝘳𝘦𝘨𝘶𝘭𝘢𝘵𝘰𝘳𝘴, 𝘰𝘶𝘳 𝘢𝘶𝘥𝘪𝘵𝘰𝘳𝘴, 𝘢𝘯𝘥 𝘰𝘶𝘳 𝘤𝘭𝘪𝘦𝘯𝘵𝘴 𝘦𝘹𝘱𝘦𝘤𝘵?" That's the operating layer we've been building since 2020. We are the infrastructure layer between a company's existing systems and the blockchains where digital assets now move, settle, and generate value. Trusted by 400+ fintechs and institutions around the world. Processing ~1% of global stablecoin volume. Come build with us today. 🔗 Explore the new website: 📺 Watch our brand film: 📑 Read the full announcement:

Finance is coordination. Coordination needs a fixed point The original Pharos wasn't a ship or a port. It was the lighthouse that made both possible. A shared reference that turned open water into navigable markets

Trade-finance blockchain consortia kept failing not because of lack of technology.⁣ ⁣ @RyanRRugg , Head of Digital Assets @Citi on the latest episode of Tokenized with host @sytaylor and @rangoldi said:⁣ ⁣ "Regardless how innovative this technology is and programmable and solving, paying multiple different entities at once, if it still requires you to go back to a wet signature, not really adding that much efficiency"⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com