February 13, 2026
TruFin CEO and Co-Founder Matt Molloy joined Stephen Sargeant on the Around The Coin podcast for an in-depth conversation on institutional staking, onchain yield, tokenisation, and the trajectory of digital asset adoption. Matt also shared his background and the path that led to TruFin, and discussed how TruFin is thinking about the next phase of institutional participation in onchain yield.
Understanding Staking and Liquid Staking
Matt provided a comprehensive overview of staking fundamentals, explaining how proof-of-stake networks function and why staking is often viewed as a foundational source of onchain yield. He then delved into liquid staking and the problem it solves: illiquidity.
“Liquid staking is there to solve the problem of illiquidity for staked assets,” Matt explained. When users stake via TruFin’s smart contracts, they receive a liquid staking receipt token (LST) that represents their underlying staked position. This receipt token can then be traded, used as collateral for lending, or deployed across DeFi protocols, all whilst continuing to earn staking rewards.
The Institutional Opportunity
The conversation explored why TruFin chose to focus on networks beyond Ethereum, including Solana and Aptos. Matt noted that when TruFin launched in late 2023, Ethereum’s liquid staking market was already relatively saturated, with approximately 50% of staked assets flowing through liquid staking protocols. By contrast, other high-growth networks had liquid staking ratios of just one to five per cent, presenting a significant opportunity for an institutional-grade provider.
TruFin’s client base spans ultra-high-net-worth individuals, family offices, crypto-native businesses, foundation clients, and liquid token funds. These allocators require robust KYC and AML compliance, transparency on asset location, and integration with best-in-class custody providers.
Compliance and Transparency
Matt emphasised TruFin’s commitment to institutional standards. The protocol works exclusively with leading validator partners that onboard clients through rigorous compliance processes. Additionally, TruFin screens wallets on the way in, maintains ongoing monitoring, and supports permissioned access aligned to institutional requirements.
Many institutional allocators are restricted from deploying capital into permissionless protocols where counterparties are anonymous. As Matt noted, “They have to know that anyone interacting with this token or the smart contract is a known entity.”
The Convergence of TradFi and DeFi
Matt offered his perspective on how traditional finance and decentralised finance are increasingly converging. He pointed to the rise of crypto-native neobanks, products like Coinbase’s integration with Morpho’s lending protocol, and the growing interest from traditional financial institutions in blockchain rails.
“At the end of the day, it will become finance,” Matt observed. “We will stop talking about it as being crypto-native or onchain versus offchain. It will just be finance, but at the moment you have obviously still got those two worlds coming together.”
Looking Ahead
The discussion also touched on TruFin’s product roadmap. Whilst continuing to expand liquid staking coverage across multiple blockchains, the team is building towards a broader yield protocol that will encompass tokenised real-world assets (RWAs), including tokenised funds and commodities.
“We want to be a more broad yield protocol,” Matt shared. “We want to offer institutional-grade yield products in both crypto-native assets and US dollar-denominated assets, providing a one-stop shop for institutional clients to access yield onchain in a safe and compliant manner.”
Listen to the Full Episode
The full episode covers a wide range of topics, from the lessons learned during the 2022 market turmoil to the impact of evolving US regulatory policy on institutional allocation. It is essential listening for anyone seeking to understand the institutional staking landscape.