Singapore, Singapore, September 25th, 2025, Chainwire

Pendle Finance, the world’s biggest yield trading platform in crypto, has achieved a new milestone: reaching over US$13 billion in Total Value Locked (TVL) and elevating it as a top protocol in DeFi. This presents a continuation of its strong growth trajectory trusted by big names such as Binance and Crypto.com

Key Highlights

US$13B+ TVL milestone: With the latest internal metrics, Pendle’s TVL has crossed the US$13 billion threshold.
Trusted by blue chip partners: This achievement presents the interest for capital inflow from financial institutions and continuous adoption for Pendle supported by partners such as Binance and Crypto.com
Strong interest from institutions: Pendle’s product kickstarted different narratives such as stablecoin yields that attracted large firms such as Spartan Group

Context & Drivers

Pendle’s growth has been driven by multiple factors:

Innovative yield architecture: Pendle introduces interest rate swaps to DeFi, one of the biggest financial markets globally exceeding $579 Trillion of notional value in 2024.
Growth booster for Crypto: Projects such as Aave, Ethena, and Syrup have integrated with Pendle resulting in billions of liquidity growth stemming from different yield products and opportunities.
The Amazon of yields: Yield opportunities are made available with different markets on Pendle, allowing anyone to earn yield with BTC, ETH, or even stablecoins reaching up to 40%.

Implications & Future Outlook

With this new TVL benchmark, Pendle is well‑positioned to:

Solidify its place as a foundational protocol in the fixed‑yield / yield tokenization niche as it has captured over $58B in fixed yield derivatives including $ETH derivatives, stablecoin, RWAs, etc.
Expand institutional interest and possibly attract capital from traditional finance (TradFi) seeking yield with transparency and composability.
Further deepen its protocol offerings with Citadels, chain expansion and allowing permissioned required entities to venture to DeFi through Pendle Permissioned access
Its new product, Boros, has set up the infrastructure to support any yield in the world (starting with crypto funding rates), including mortgage rates, US treasury bills and more. 

Potential risks remain, such as managing liquidity risk, smart contract risk, and ensuring sustainable growth without over‑leverage. The protocol has emphasised rigorous audit practices, risk assessments, and conservative engineering in recent releases.

Quote

“Crossing US$13 billion TVL is a testament to Pendle’s utility and the market’s need for flexible yield solutions. While the DeFi landscape evolves fast, our mission remains to provide transparent, secure, and innovative fixed‑yield infrastructure,” said TN Lee, CEO of Pendle.

About Pendle Finance

Pendle is the world’s biggest yield trading platform in crypto. By separating the asset’s principal and yield, Pendle enables new yield strategies, enhanced capital efficiency, and more predictable returns. The protocol is active across multiple blockchain environments, supports integrations with leading DeFi and restaking / staking ecosystems, and continuously releases new tools for liquidity providers, yield traders, and hedgers.

Contact

Paolo Dioquino
Pendle
paolo@pendle.finance

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Filed under: Altcoins - @ September 25, 2025 12:00 pm