Goldfinch

Goldfinch receives a C- risk grade (55/100) from Hindenrank, where lower scores indicate lower risk. High risk — three confirmed defaults totaling $18M prove that unsecured lending to emerging markets carries serious loss potential A lending protocol that sends crypto deposits to real-world borrowers in emerging markets without requiring collateral. It holds $64M with $52.7M in funding from a16z and others. Its D+ grade reflects $18M in confirmed defaults across three borrowers and fundamental problems with unsecured cross-border lending.

The key risks identified for Goldfinch are: (1) Three borrowers have already defaulted, losing $18M total (Tugende $5M, Stratos $7M, Lend East $6M). There is no collateral to seize when borrowers stop paying (2) You lend money to businesses in emerging markets but have almost no visibility into how they actually use it. The worst borrowers are the ones most likely to seek DeFi loans (3) Your money is locked in loans that can take months or years to mature. If you want out early, you have to sell your receipt token at a steep discount

Goldfinch scores 55/100 across eight risk dimensions: Mechanism Novelty: 8/15, Interaction Severity: 11/20, Oracle Surface: 0/10, Documentation Gaps: 5/10, Track Record: 14/15, Scale Exposure: 3/10, Regulatory Risk: 7/10, Vitality Risk: 7/10. The highest risk area is Track Record at 14/15.

Among 73 rated RWA protocols on Hindenrank, Goldfinch ranks #72 by safety (lowest risk score = safest). Its 55/100 risk score and C- grade place it among the riskier RWA protocols.

Goldfinch scores 14/15 on the Track Record risk dimension, indicating some history of security incidents or exploits. Higher scores reflect more severe or frequent incidents. Review the full risk report for details.