✨ Isifinyezo se-AI
- Ukuthuthukiswa kwe-DeFi yezikhungo kubhekene noshintsho olukhulu, lapho izikhungo ezinkulu zakha imikhiqizo eqhuba inani langempela kunokuba nje ithinte i-web3 ne-blockchain ukuze ihlale ibalulekile.
- Izinyathelo ezibalulekile zifaka phakathi ukwethulwa kwesikhwama semakethe yemali esinophawu lwe-$100M, isikhwama sokuqala sedola esinophawu lwe-Fidelity International, kanye nohlu lwe-BlackRock lwesikhwama sayo se-BUIDL esingu-$2.3B ku-Uniswap.
- Inani lemakethe le-RWA eliku-chain selicishe liphindwe kathathu ngonyaka, okugcizelela ithuba elikhulu elisezingqalasizinda ze-DeFi ezihambisanayo nezingokwezikhungo.
- Kodwa-ke, ukwakha i-DeFi yezikhungo kuyinqubo eyinkimbinkimbi, enezinselele ezifana ne-KYC esigabeni senkontileka, ukuphakelwa kwamanani ngesikhathi sangempela, izindawo zokugcina izinto ezihambisanayo, ukuthunyelwa kwamaketanga amaningi, kanye nokubika komthetho.
- Izikhungo ezihlela ukwakha ingqalasizinda ye-DeFi kumele zihlose ukukhishwa okuvumelana nemithetho futhi kube lula kakhulu.
Izinyanga ezinhlanu zokuqala zika-2026 zenze kwaba sobala ukuthi izimpahla ze-TradFi zokuzisonga ukuze uzifake ochungechungeni, akuseyona yodwa indaba eqondisa ukuthuthukiswa kwe-DeFi yesikhungo . Izikhungo manje sezidlula emigwaqweni ye-DeFi, zakha imikhiqizo engagcini nje ngokuthinta i-web3 ne-blockchain ukuze ihlale ibalulekile kodwa empeleni eqhuba inani langempela.
Ubani Owakhayo Ngempela: Ukunyakaza Kwe-DeFi Yezikhungo Okuphawulekayo Ngo-2026
- I-JPMorgan yethule i-JLTXX ehambisana ne-GENIUS, isikhwama semakethe yemali esinamathokheni angu-$100M ku-Ethereum ngoMeyi 13, 2026. (Umthombo: Isitatimende Sabezindaba se-JPMorgan)
- I-Fidelity International yethule i-FILQ, isikhwama sayo sokuqala samadola esithokheniwe ku-Ethereum ngoMeyi 26, 2026 lapho i-Chainlink ishicilela i-NAV yesikhathi sangempela ku-chain kanye ne-Sygnum Bank ephethe i-KYC/AML. (Umthombo: I-BanklessTimes)
- I-Amundi (€2.4T AUM) yethule i-SAFO, isikhwama esithokheniwe esihambisana ne-UCITS ku-Solana ngoMeyi 22, 2026, esiqondiswa yi-AMF yaseFrance. (Umthombo: Izindaba ze-Cqt)
- I-Apollo Global, ngoFebhuwari 13, 2026, yavuma ukuthola kufikela ku-9% wokubusa kukaMorpho eminyakeni emine ezayo, okunikeze isihlalo se-AUM esingu-$940 billion etafuleni lephrothokholi yokubolekisa imali ye-DeFi. (Umthombo: Yellow)
- I-BlackRock ifake isikhwama sayo se-BUIDL esingu-$2.3B ku-Uniswap ngomhlaka-11 kuNhlolanja 2026, okwenza kube nokushintshana kwezikhungo amahora angama-24 ngosuku, izinsuku eziyi-7 ngesonto nge-UniswapX, futhi yathenga inani elingadalulwanga lamathokheni okuphatha e-UNI. (Umthombo: CoinDesk)
- I-BlackRock ifake isicelo ku-SEC ngomhlaka-8 Meyi 2026 ukuze yethule i-BSTBL, isigaba samasheya edijithali esithokeni sesikhwama sayo semali esingu-$6.1B ku-Ethereum kanye ne-BRSRV, isikhwama esisha esinezinhlayiya eziningi esihlose abanikazi be-stablecoin abafuna inzuzo elawulwayo. (Umthombo: I-AdvisorHub)
- I-Ripple Prime ihlanganise i-Hyperliquid ngomhlaka-4 kuNhlolanja 2026, ivumela amaklayenti ezikhungo ukuthi afinyelele kuma-derivatives aku-chain ngenkathi ehlukanisa izikhundla ze-DeFi ngokumelene ne-FX, imali engenayo engaguquki, ukushintshana kwe-OTC, kanye nama-derivatives asuliwe ngaphansi kwe-counterparty eyodwa. (Umthombo: Isitatimende Sabezindaba se-Ripple)
| isikhungo | Isikhwama / Isinyathelo | I-Blockchain / Iphrothokholi | Idethi (2026) | Uhlu Lokuthatha Okubalulekile / Umlingani | Umthombo |
|---|---|---|---|---|---|
| I-Ripple Prime | Ukuhlanganiswa Kwezisusa | I-Hyperliquid | -Feb 4 | I-DeFi enqamula imingcele ngokumelene nempahla ye-TradFi | Isitatimende Sabezindaba se-Ripple |
| BlackRock | Uhlu Lwezimali ze-BUIDL | Ukushintshaniswa / UkushintshaniswaX | -Feb 11 | Ukunika amandla ukushintshana amahora angu-24 ngosuku, izinsuku eziyi-7 ngesonto; ngithenge amathokheni e-UNI | CoinDesk |
| I-Apollo Global | Ukutholwa Kokubusa | i-morpho | -Feb 13 | Ukuthola ukubusa okufika ku-9% eminyakeni engu-4 | Yellow |
| BlackRock | Izimali ze-BSTBL kanye ne-BRSRV | I-Ethereum / Amaketanga amaningi | Kwangathi 8 | I-SEC ifaka amasheya edijithali esikhwama semali | I-AdvisorHub |
| JPMorgan | Isikhwama se-JLTXX ($100M) | Ethereum | Kwangathi 13 | Imakethe yemali ethokheniwe ehambisana nobuhlakani | Isitatimende Sabezindaba se-JPMorgan |
| Amundi | Isikhwama se-SAFO (€2.4T AUM) | Solana | Kwangathi 22 | Ihambisana ne-UCITS; iqondiswa yi-AMF yaseFrance | Izindaba ze-Cqt |
| Ukwethembeka Int. | Isikhwama Sedola se-FILQ | Ethereum | Kwangathi 26 | Isebenzisana ne-Chainlink (NAV) kanye ne-Sygnum (KYC) | I-BanklessTimes |
Uma ucabanga ukuthi bangabahloli abangahleliwe, unephutha. Izikhungo zihambisa imali ebolekiwe, isikweletu, kanye nokusebenza ngokusebenzisa imigqa yephrothokholi ye-DeFi ezingeyona eyazo. Lena iphethini yokushintsha kwengqalasizinda, efana nalokho okwenzeka lapho abathengisi abaphambili bexhuma ku-BATS, kanye ne-EDGX ekuqaleni kwawo-2000 esikhundleni sokuyikopisha.
Uma ungu-CTO ebhange, e-neobank, epulatifomu ye-RWA noma ekushintshanisweni kwezimpahla zedijithali, umbuzo ofanele kakhulu ophambi kwakho uthi: Ingabe wenza ukuthuthukiswa kwepulatifomu ye-DeFi yesikhungo ngaphambi kwabancintisana nabo?
Iyini i-Institutional DeFi?
Ukuthuthukiswa kwe-DeFi yezikhungo kumelela ukuhlanganiswa kwe-tradFi ne-DeFi. Izinhlangano ezilawulwayo ezifana namabhange, abaphathi bezimpahla, izikhwama ze-hedge, ukushintshaniswa, njll. zisebenzisa izinqubo ezihlukaniswe njengengqalasizinda yezezimali ehlanganyelwe. Ngokungafani ne-DeFi yokuthengisa, isebenza ngaphakathi kwemingcele yokuthobela imithetho ne-KYC kungqimba lwenkontileka, amachibi okuthengisa avunyelwe, kanye nokubika okulawulwayo okwakhelwe kungqalasizinda yephrothokholi. Ihlukile ku-tokenization ye-RWA ngokuthi ayigcini nje ngokuletha izimpahla kuchungechunge kodwa futhi izenza:
- Ingasetshenziswa njengesibambiso
- Kungasetshenziswa ezimakethe zemalimboleko
- Kungahlanganiswa kuzo zonke izinqubo
- Ingahlengwa amahora angu-24 ngosuku, izinsuku eziyi-7 ngesonto ngaphandle komlamuleli wendabuko.
Ithuba Lemakethe Elingenakulikhohlwa yiWall Street
Ithuba Lemakethe Elingenakulikhohlwa yiWall Street
Umthombo: RWA.xyz
Inani le-RWA eliku-chain licishe laphindeka kathathu ngonyaka, lidlula inani lemakethe elingu-$32 billion ngoMeyi 2026 lisuka ku-$11B kuphela ngo-Ephreli 2025. Lena akuyona enye iphethini yomjikelezo we-crypto njengoba izimpahla ezikhiqizayo ziyizibambiso zikahulumeni ezithwala inzuzo, isikweletu sangasese, kanye namasheya esikhwama alawulwayo.
Izinqubo ze-Aave, Morpho, Uniswap, kanye ne-Hyperliquid manje zisebenza njengezindlela zokuxazulula ezihlanganyelwe zezikhungo ze-tradFi, indima efanayo edlalwe yi-ECN ezimakethe zamasheya zase-US. Izikhungo ezakhele phezu kwe-ECN zabamba ukugeleza futhi ezalinda futhi zakha ingqalasizinda yokuthobela imithetho ezimakethe azisaholi.
Uthi bewazi?
Amaphesenti amancane kuphela ama-RWA anethokheni asebenzayo e-DeFi. Ingxenye enkulu egcinwe endaweni evunyelwe izodinga izingqwembe ze-DeFi ezihambisanayo ukuze zibe yisibambiso esikhiqizayo. Lesi sikhala simelela ithuba elikhulu kunoma ngubani owakha noma okhulisa ingqalasizinda ye-DeFi ehambisanayo, yesikhungo.
Kungani Ingqalasizinda Ye-DeFi Yezikhungo Ihlukile Futhi Yiziphi Izinto Ezibalulekile?
Ukuthuthukiswa kwephrothokholi ejwayelekile ye-DeFi akuzona ezezikhungo. Izidingo zokuthobela imithetho ezibekwe yi-VARA MiCA, i-GENIUS Act, kanye nohlaka olufanayo zidala imikhawulo ethile yobunjiniyela engakaze yenzelwe i-DeFi. Uma wakhela i-DeFi izikhungo, nazi izinselele okumele iphrothokholi yakho ye-DeFi yesikhungo ibhekane nazo:
| Ingqimba yengqalasizinda | Izinselele ze-Open DeFi | Lokho Okufanele Kwenziwe yi-Institutional DeFi | Ireferensi Yomhlaba Wangempela |
|---|---|---|---|
| 1. Izinkontileka Ezihlakaniphile Ezivunyelwe | Izinkontileka ze-DeFi ezivulekile zivumela noma yisiphi isikhwama semali. Akukho ungqimba lobunikazi. |
| Uhlu lwabavunyelwe be-BUIDL's Securitize; I-FILQ's Sygnum Desygnate ERC-20 |
| 2. I-On-Chain NAV kanye ne-Oracle Layer | I-NAV ihlala ngaphandle kwe-chain ne-ejenti yokudlulisa imali. Akukho bhuloho elithembekile eliya ku-chain. |
| I-Chainlink ye-FILQ (i-JP Morgan ihlinzeka nge-NAV yansuku zonke → ukusakazwa kwe-Chainlink ku-chain) |
| 3. I-Vault ehambisanayo / Isendlalelo Soketshezi | Amathokheni avikelwe ohlwini lwabavunyelwe awakwazi ukufakwa ngqo ku-Aave noma ku-Uniswap. |
| I-Société Générale ku-Morpho vaults; Coinbase $1.2B USDC loans nge Morpho. |
| 4. Ukuthunyelwa Kwama-Multi-Chain | Isifundazwe se-KYC/AML asihambi ngezintambo. Kukhona ukuhlukaniswa kobunikazi kuwo wonke amabhuloho. |
| I-BENJI ngamaketanga angu-8; Isivumelwano se-Ondo/JPMorgan/Ripple/Mastercard OUSG ku-XRPL (Meyi 6, 2026) |
| 5. Ukugcinwa Nokuhlaliswa Kwabantu | Abagcini bezikhungo abahlanganisi ngokwendabuko nezinqubo zeDeFi. |
| I-Anchorage Digital ku-JLTXX; I-Sygnum ku-FILQ; ukuxazululwa kwe-stablecoin okuvumela izimakethe ezivulekile njalo |
| 6. Ukuthobela Nokubika | Izinqubo ze-DeFi azikhiqizi imizila yokuhlola, idatha yemithetho yokuhamba, noma amafulegi e-AML |
| Ukuphoqelelwa kwe-VARA kwe-DeFi front-ends; Izidingo zokugunyazwa kwe-MiCA CASP |
Imodi yokuhluleka okubucayi exazululwa amaphrojekthi amaningi okuthuthukiswa kwe-DeFi yi-composability noma i-composability, imodeli ye-BUDL yohlu lokuvumela ihambisana ngokuphelele kodwa i-DeFi isebenza ngo-8% kuphela. Labo abahlela umkhawulo wokuncintisana oqhubekayo kumele bahlose ukukhishwa okuhambisanayo okune-composability ephezulu. Lokhu kufingqa indlela ye-DeRWA noma ye-Centrifuge ebhekana nokushintshana kokuhambisana nokuhambisana ngokunika amandla ukukhishwa okuhambisanayo okune-transferability yesibili ephezulu, ekhululekile. Le ndlela ifaka i-logic yobunikazi be-KYC/AML ngqo kungqimba yenkontileka ehlakaniphile yephrothokholi, okuvumela izimpahla ezilawulwa kakhulu, ezinamathokheni ukuthi zihambe kalula futhi zisebenzisane ngokuphephile njengesibambiso esikhiqizayo kuzo zonke iziteshi zomphakathi ze-DeFi.
Imephu Yokuthobela Umthetho Ngokusebenzisa Amandla Okulawula Ukuthuthukiswa Kwepulatifomu Ye-DeFi Yezikhungo
| Isifunda | Uhlaka Oluyinhloko | Usuku Olubalulekile | Kusho ukuthini nge-DeFi |
|---|---|---|---|
| I-united states | Umthetho we-GENIUS + Umthetho Ohlangene we-SEC-CFTC (Mashi 2026) + I-Crypto Yephrojekthi | Isihloko se-UCC 12: Juni 3, 2026 | Kuchazwe amakilasi angu-4 empahla engeyona eyokuphepha; ama-MMF anethokheni angasekela izinqolobane ze-stablecoin; isimo sesibambiso esisemthethweni sempahla yedijithali |
| i-United Kingdom | Imithethonqubo Yezimali Ze-FCA FSMA 2026 | Umbuso ogcwele ngo-Okthoba 2027 | Sekulawulwa njengokukhushulwa kwezezimali manje; kudingeka imvume ye-CASP |
| I-UAE / Dubai | Incwadi Yemithetho Yokukhishwa Kwempahla Ebonakalayo ye-VARA (Mashi 2026) | Active | Ama-front-ends e-DeFi kumele abhalise; incwadi yemithetho yezinsizakalo zokushintshanisa; i-AML/CFT ephoqelekile |
| Australia | I-AUSTRAC + ASIC | Umthetho Wokuhamba uyasebenza | Ilayisensi yokushintshanisa; ukubhaliswa kwe-AML; Ukuthobela imithetho yokuhamba |
| iyuniyani yase-Europe | I-MiCA Article 143(3) | Julayi 1, 2026 idwala | Kudingeka imvume ye-CASP; imizila ye-EU ekhonza ukufinyelela kwesikhwama esinamathokheni kumele igunyazwe |
| Singapore | Uhlaka lwe-MAS Digital Payment Token | Active | Ilayisensi ye-MAS yezinsizakalo ze-DPT; i-DeFi yesikhungo iyabuyekezwa |
Ubani Okufanele Akhe I-DeFi Yezikhungo Futhi Yini Abangayidingayo?
Ukuthuthukiswa kwe-DeFi yezikhungo akubandakanyi ukwakha umkhiqizo owodwa. Empeleni kuhlanganisa izingxenye ezahlukene zezimali zendabuko kanye nezezimali ezihlukaniswe ngokwezigaba, kwakhiwe uhlelo lokusebenza olusebenzisanayo olunikeza ukusebenza kahle ngaphandle kokuyekethisa. Uma uhlela ukwakha ingqalasizinda ye-DeFi yezikhungo ngo-2026, nansi indlela ecacile yakho:
| Ungubani | Lokho Okwakhayo | Isidingo Sakho Sengqalasizinda Esibalulekile |
|---|---|---|
| I-CTO ebhange le-neobank / i-challenger | Imali mboleko ye-MMF noma ye-DeFi eqhutshwa ku-chain yamakhasimende | Izinkontileka ezihlakaniphile ezivunyelwe + ukugcinwa + ukubika kokuthobela imithetho |
| Inhloko Yezimpahla Zedijithali ebhange lesifunda | Umkhiqizo onethokheni ohambisana ne-VARA / MiCA | Ukufakwa kwamaketanga amaningi + i-DeFi ebhalisiwe yi-VARA + i-KYC esesigabeni senkontileka |
| Umsunguli/i-CEO yesikhulumi se-RWA | Amagugu Anethokheni noma isikweletu sangasese esiku-chain | Ukuhlanganiswa kwe-Oracle + ukwakheka kwe-vault okuhambisanayo + izimbozo zephrothokholi ye-Aave/Morpho |
| I-CIO ehhovisi lomndeni/isikhwama | I-DeFi evunyelwe inika amandla okuvikela; ukuchayeka kwekhredithi okuhambisana nomthetho | Izindlu zokugcina impahla ezihlelwe ngendlela ye-morpho + uhlu lwabavunyelwe abatshalizimali + ideshibhodi yokubika |
| Umsunguli we-crypto exchange (CEX/DEX) | Ideski lokubolekisa lezikhungo + ukwamukelwa kwesibambiso esinethokheni | Uhlelo lokuphatha oluhlanganisiwe + okuphakelayo kwe-NAV okuku-chain + ukuhlanganiswa kokugcinwa |
| I-CEO ye-P2P / Marketplace Lending Platform | Ukuqala kwesikweletu esihlukaniswe ngochungechunge (ukuxhaswa ngezimali kwempahla okunye) | Ubunikazi bokubhalisela obuhlukaniswe ngokwendawo (i-DID) + ukusatshalaliswa kwemali okuzenzakalelayo + amachibi emakethe esibili avunyelwe |
| Inhloko Yomkhiqizo kuMphathi Wezimpahla Wendabuko | Izimali ezihlanganisiwe / izakhiwo ze-UCITS | Imisebenzi yokuqandisa/yokuncibilikisa ehlakaniphile ehambisana nomthetho + inethiwekhi yokusabalalisa ye-cross-chain + okuphakelayo kwe-Chainlink NAV kwesikhathi sangempela |
| Umqondisi Ophethe e-Digital Prime Brokerage | Inethiwekhi yokuhlukanisa imingcele kanye nokuhlanza yezikhungo | Izinjini zokuqeda iphrothokholi ezihambisanayo + izimbozo ze-margin ezihambisanayo zomuntu oyedwa + injini yengozi yamaketanga amaningi yesikhathi sangempela |
| Umholi Wokuphathwa Kwezimali e-Web3 Foundation | Ama-stablecoin reserves athwala isivuno noma ukuhlukaniswa kwamathokheni endabuko kuma-RWA | Amasango okugcinwa kwezikhungo anezimpawu eziningi + abahlanganisi be-RWA abakhethwe ngengozi + izindlela zokubika intela/accounting ezizenzakalelayo |
I-Antier Yakha Kanjani Ingqalasizinda Ye-DeFi Yezikhungo?
Ukuxazulula zonke izendlalelo eziyisithupha zengqalasizinda okuhlanganisa ukuthobela imithetho, i-oracle, ukugcinwa, izintambo eziningi, izindawo zokugcina impahla, ukubika, njll. ngasikhathi sinye yilapho iningi lezakhiwo ze-DeFi zezikhungo lihluleka khona. Ithimba langaphakathi elithembekile lalolu hlelo libiza amaholo angama-$1.8 - $2.5 million ngonyaka kanye neminyaka engaphezu kwemibili yokukhiqiza.
Kodwa-ke, abathuthukisi be-blockchain abaphambili abanjengo-Antier, sebevele bakhe i-DeFi yamabhange nezikhungo ezilawulwayo. Izikhungo zingasebenzisa ubuchwepheshe bazo obuvunyelwe bokuthuthukiswa kwe-DeFi ukuze zinyuse izinga ezinyangeni ezingu-3-6, kanye nengxenye yezindleko.
I-Antier inikeza ingqalasizinda ye-DeFi yesikhungo kusukela ekuqaleni kuze kube sekupheleni nge:
- Izinkontileka ezihlakaniphile ezivunyelwe + ukuhlanganiswa kwe-oracle
- I-vault ehambisanayo kanye ne-protocol wrappers
- Ukufakwa kwamaketanga amaningi ngokulondolozwa kwe-AML/KYC
- Ukugcinwa + ukukhokhelwa
- Ukuhambisana nokubika
Silethe i-tokenization, exchange, kanye nengqalasizinda ye-DeFi kumakhasimende ezikhungo kulo lonke elase-UAE, e-US, e-UK, eSingapore, naseNingizimu-mpumalanga ye-Asia. Xhumana namuhla ukuze wabelane ngezidingo zakho zephrojekthi.
imibuzo ejwayelekile ukubuzwa
01. Iyini i-DeFi yesikhungo?
Ngo-2026, izikhungo ezinkulu ezifana ne-JPMorgan, i-Fidelity International, i-Amundi, i-Apollo Global, kanye ne-BlackRock zaqala izimali nezinhlelo ezahlukahlukene ezibekwe uphawu ku-bloc. I-Institutional DeFi ibhekisela ezinhlanganweni zezimali ezilawulwayo ezifana namabhange, abaphathi bezimpahla, ukushintshaniswa, izikhwama ze-hedge, zisebenzisa izinqubo zezimali ezihlukaniswe ngokwezigaba (i-Aave, i-Morpho, i-Uniswap, i-Hyperliquid) njengengqalasizinda yokwenziwa kanye nokuxazulula okwabiwe, ngenkathi zigcina imingcele yazo ye-KYC, ukuthobela imithetho, kanye nokugcinwa kwezimali.
02. Ingabe i-DeFi ivumelekile ngokomthetho ezikhungweni ezilawulwayo?
Yebo, ngaphansi kwezinhlaka ezithile. Umthetho Ohlangene we-SEC-CFTC (Mashi 2026) uchaza izigaba ezine zezimpahla zedijithali ezingezona ezokuphepha. UMthetho we-GENIUS udala uhlaka olucacile lwe-stablecoin reserve olufaka phakathi ama-MMF anethokheni. I-VARA e-UAE ilawula ngokusobala opharetha be-DeFi front-end
03. Yimuphi i-blockchain okufanele isikhungo siyisebenzisele i-DeFi ngo-2026?
I-Ethereum isingatha u-65% wenani le-RWA elithokeni futhi yilapho i-BlackRock BUIDL, i-JPMorgan JLTXX, kanye ne-Fidelity FILQ zonke zibukhoma khona. Yingqimba ezenzakalelayo yokwakheka okuphezulu kwe-DeFi kanye nokuthembeka kwezikhungo. I-Solana iyisinqumo sika-Amundi semikhiqizo ehambisana ne-UCITS futhi inikeza ukuqeda okungu-150ms ngokuthuthukiswa kwe-Alpenglow. Ama-subnet e-Avalanche kanye ne-Canton Network akhonza izindawo zokuthuthukiswa kwe-DeFi ezivunyelwe.
