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DeFi Magic and Credit Default Swaps Converge in Opaque Lending Market

  • Percent will offer CDS-like protection on notes it’s issued
  • Amid rout, it’s not obvious time to do that with stablecoins
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Credit default swaps are hard enough to figure out. Shadow lenders and their repackaging of cash flows from loans into securities come with their own complexities. And cryptocurrencies, well, they can be as mind-bending as anything financial alchemists have ever dreamed up.

A new product combines all three into one.