Pendle opens fixed-yield market for srnOPAL backed by Brazilian card receivables
- —srnOPAL offers 11.59% APY on Pendle, denominated in USD and FX-hedged
- —Junior capital provides first-loss coverage of at least 15% of total investment
- —Market launched September 15, 2026, matures January 7, 2027
- —Pendle's RWA offerings have crossed $1 billion in TVL
Why it matters: The product offers double-digit fixed yield independent of crypto prices, but carries Brazilian credit, emerging-market and counterparty risks.
Source: Crypto Briefing