Pendle joins Vietnam IFC delegation alongside BlackRock, Morgan Stanley, and Deutsche Bank

March 31st, 2026 – Singapore, Singapore

Pendle announces its CEO TN Lee represented the protocol at a high-level financial delegation in New York alongside representatives from Deutsche Bank, Morgan Stanley, BlackRock, Franklin Templeton, and Anchorage Digital.

The group met with Vietnam’s Deputy Prime Minister to build the investment case for Vietnam’s International Financial Center, a landmark initiative positioning Southeast Asia as a destination for global institutional capital.

For Pendle, this is more than a diplomatic milestone. It signals the moment when DeFi protocols earn a seat at the table with the world’s most powerful financial institutions.

RWA in DeFi

Real World Assets (RWAs) in DeFi are tokenized versions of traditional financial instruments, including government bonds, treasuries, real estate, and private credit, brought onchain so they can generate yield in a permissionless, transparent environment. Unlike holding a bond directly, tokenized RWAs can be traded, split, and composed with DeFi protocols without the friction of traditional settlement systems.

As institutions like BlackRock and Franklin Templeton accelerate their tokenization strategies, Pendle’s yield infrastructure becomes increasingly critical. The protocol already supports yield trading on tokenized treasuries, making it one of the few DeFi platforms positioned to serve both retail users and institutional-grade asset flows.

Drivers of Institutional Interest in Pendle’s Yield Tokenization

Pendle has emerged as infrastructure-layer DeFi because it solves a problem that tokenized RWAs introduce: yield volatility. When BlackRock or Franklin Templeton tokenize a treasury product, the yield on that token fluctuates. Pendle’s yield trading mechanism allows institutions and sophisticated users to separate, price, and trade that yield independently, a function that makes tokenized RWAs more useful as financial instruments rather than passive holdings.

The protocol already supports yield trading on tokenized treasury products, positioning it as one of the few DeFi platforms capable of serving institutional-grade asset flows alongside retail participants.

Pendle’s Role in the Vietnam Delegation as a Signal for Institutional DeFi Adoption

Pendle’s participation in the Vietnam IFC delegation alongside Deutsche Bank, Morgan Stanley, BlackRock, Franklin Templeton, and Anchorage Digital signals that DeFi yield infrastructure is now being considered as part of sovereign financial policy discussions not just as a retail product category. As governments define regulatory frameworks for tokenized asset markets, the presence of DeFi protocols in those conversations influences the technical standards that will govern the next decade of finance.

The convergence of crypto-native custody (Anchorage Digital), TradFi distribution (Deutsche Bank, Morgan Stanley), and yield-layer infrastructure (Pendle) represents a complete institutional DeFi stack present at the same table.

Vietnam’s International Financial Center represents a compelling greenfield opportunity:

A regulatory framework designed to attract global capital combined with DeFi-native yield infrastructure could unlock a new class of financial products for Southeast Asian investors who currently lack access to competitive yield markets.
The presence of Anchorage Digital alongside traditional banks underscores a broader trend, the convergence of crypto-native custody and TradFi distribution is no longer theoretical.
The tokenized asset market is projected to reach $16 trillion in on-chain value by 2030, according to BCG. Pendle’s yield trading infrastructure is designed to be foundational to this market, not as a destination for tokenized assets, but as the layer that makes yield on those assets tradeable, hedgeable, and composable.

About Pendle

Pendle is the world’s largest crypto yield trading platform empowering the tokenization and trading of yield-bearing assets. Pendle unlocks sophisticated yield strategies for retail and institutional participants alike redefining the future of onchain fixed income.