Theo Golden

speaker

442 appearances 1 recordings 1 series first heard Jul 2026 last heard 9 Jul

Theo Golden’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

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Talking Tokens: Crypto, Onchain Finance, Investing · A 117-Year-Old Asset Manager Goes “Fully Native,” Seeing Tokenization as OS upgrade | Theo Golden · 9 Jul 2026 podcast

And you had a really compelling yield, as you say, like the current portfolio is yielding around 7% in dollars.

And so we found that that was the perfect

the perfect product for the market, perfect product for what people want to invest in, whether they're crypto native or not crypto native.

And more importantly, it had all of the characteristics that meant it was kind of symbiotic with what we're trying to achieve in tokenization.

It also just the last thing is that why don't we do equities?

Well, partly because currently equities are an incredibly efficient market in terms of how people access equities today.

But in time, we can iterate and improve.

But more importantly, because fixed income is actually the hardest one to start with.

And what I mean by fixed income is like proper fixed income, not kind of cash like money market funds.

Money market funds are risk free.

It's an incredibly easy asset to tokenize.

You don't really need to give it much thought at all.

When you get to risk assets and fixed income, you're dealing with duration, convexity.

You're dealing with spread duration.

You're dealing with a much more complicated asset class and you're having to manage for a lot more different costs.

things within the boring stuff like fund administration and how do you deal with dividends and stuff like that from the fund.

And so it's a much more complicated beast.

And therefore we took the view that if we started with the hard thing first and we got it right,

then we would essentially be able to kind of have a much higher ROI as we came to other things.

So rather than having to each time work out a really complicated, going from money funds to credit funds, et cetera, to really having to rethink the whole model every single time, we started with the hard thing first, which meant that everything from there was easier to do and had a much more plug and play operating model.

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