Bridging TradFi and DeFi: Treehouse CEO Discusses the Future of Crypto Fixed Income
In a recent interview on the Cryptonews Spotlight Podcast, Brandon Goh, Co-Founder and CEO of Treehouse Labs, shared insights into the future of fixed income in crypto, the role of Decentralized Offered Rates (DORs), and the potential of liquid staking innovations like tAssets.
With a background in fixed-income trading at Morgan Stanley and Wells Fargo Securities, Goh is now focused on bridging TradFi and DeFi by building structured fixed-income products for the digital asset economy.
The Fixed Income Market’s $600 Trillion Opportunity
During the interview, Goh highlighted the massive size of the global fixed-income market, valued at $600 trillion, making it nearly five times larger than equities. He emphasized that crypto fixed income is still in its infancy, but with increasing institutional interest, demand for structured yield products in digital assets is growing rapidly.
“With crypto becoming more mainstream, particularly with the pickup in institutional interest, demand for fixed income products is picking up fast. Just three years ago, did anyone really expect Bitcoin ETFs to become a reality? The landscape is moving super quick.”
Introducing tAssets: A Smarter Way to Earn on Ethereum
Treehouse Labs has launched tAssets, a new category of liquid staking tokens (LSTs) that provide additional yield on top of traditional proof-of-stake rewards.
The first product, tETH, integrates with protocols like Lido, Aave, Compound, and Spark, enabling users to capture arbitrage opportunities across lending markets while maintaining Ethereum staking rewards.
“tAssets aim to unify fragmented interest rate markets in DeFi. Borrowing and lending rates are all over the place—tAssets help bring efficiency to the system.”
Decentralized Offered Rates (DORs): The LIBOR of Crypto
One of Treehouse’s biggest innovations is the Decentralized Offered Rate (DOR), a blockchain-native benchmark interest rate designed to support a more structured fixed-income market in crypto. DOR functions as a decentralized reference rate, similar to LIBOR in TradFi, but with transparent, verifiable, and tamper-proof on-chain data.
“A decentralized benchmark rate is critical for a thriving fixed income market in crypto. Without it, building structured products like futures, swaps, or bonds is extremely difficult.”
Institutional Interest and Project Bamboo
Goh also revealed that major hedge funds and market makers are already adopting DORs as a benchmark for crypto-native fixed income products. As part of Project Bamboo, Treehouse is developing the first-ever forward market on Ethereum staking rates, targeting $1 billion in trading volume.
“We’re working with some of the biggest market makers in the space to power the first forward market on Ethereum staking rates—this could unlock an entirely new asset class in crypto fixed income.”
The Future of Crypto Fixed Income and Adoption
Looking ahead, Goh believes that crypto fixed income adoption could accelerate significantly in the next two to three years, especially as regulatory clarity improves and traditional banks explore DeFi integration. However, he noted that user experience remains a major barrier, comparing the need for simpler DeFi solutions to Apple’s revolution of consumer technology.
“Right now, it’s impossible to onboard boomers into DeFi—setting up a wallet is already too complex. We need a ‘Steve Jobs moment’ in crypto where staking and yield products are seamlessly integrated into traditional finance.”
Where to Learn More
To listen to the full interview, visit Cryptonews Spotlight Podcast Episode 410. For more information about Treehouse and its fixed income innovations:
• Website: treehouse.finance
• Twitter: @treehouse_fin
• Brandon Goh on Twitter: @mytwogweis
About Treehouse Labs
Treehouse Labs was founded in 2021 to build data, infrastructure, and standards for informed investing in digital assets. Its core products, tAssets, and DORs, aim to bring transparency, efficiency, and structured yield opportunities to DeFi.