Mitsubishi UFJ Financial Group's Laser Digital Enters the DeFi Fixed Income Market

Huoxing Finance reports that Laser Digital, the digital assets subsidiary of Nomura Securities, has announced a partnership with Keyring Network to serve as the risk governance provider for the institutional lending market, with the first markets launching on Euler Finance. Neither party disclosed committed capital, fee terms, or launch dates. Under the partnership framework, Keyring provides infrastructure and tools, including access verification, quantitative risk parameter setting, and liquidation framework design; while Laser Digital’s asset management division contributes governance standards, portfolio structures, and market practices. Both parties identify four major barriers to institutional participation in DeFi lending: permissioning, vulnerability risks, governance, and settlement. The solution integrates zero-knowledge permissioning, quantitative risk modeling, network insurance, and Keyring’s settlement technology. According to DefiLlama data, Euler has a total value locked of $368.8 million across 17 chains and $555.4 million in outstanding loans. Previously, in August, Laser Digital supported private credit on ZIGChain’s emerging markets, while Keyring introduced a zero-knowledge identity layer for DeFi vaults on Avalanche in August 2025. Nomura established Laser Digital in 2022, with its operational headquarters located in Dubai and Switzerland.