Credit Markets on Demand: Who Gets to Launch a Lending Protocol in 2026? (Protocol Roundtable Ep. 3)

​On-chain lending was built for crypto-native collateral. Overcollateralized, permissionless, and simple. But the next wave of credit doesn't look like that. It looks like invoice financing, undercollateralized credit lines backed by real-world identity, and lending markets that need to comply with regulations without sacrificing privacy. The infrastructure to originate, deploy, and govern these credit products on-chain is still being figured out. This session brings together credit infrastructure builders, RWA lending protocols, privacy and compliance architects, and institutional infrastructure teams for a direct conversation about what it actually takes to move on-chain credit beyond the overcollateralized model. We'll dig into real-world collateral, identity-based underwriting, privacy-preserving compliance, and the infrastructure gap between "we have a credit use case" and "we have a functioning market." Expect real tradeoffs, not token pitches.

Featuring reps from Midnight Network, Pharos Network, InvoiceMate, DeFa, Arenas.Fi, Fuero.xyz, and Protofire.

Hosted live on X + LinkedIn + YouTube.