Last week, I had a call with a friend who runs a cross-border business in Mexico City. Holding his coffee, he complained to me: the returns on his local government bonds are decent, but every time he wants to move USD liquidity, he has to go through three or four layers of transfers. If the exchange rate fluctuates, half the profit is wiped out.

I casually mentioned Etherfuse’s CETES product. His eyes lit up immediately—"You mean the one that lets you earn yield directly on-chain?" Exactly. This isn’t just about digitizing assets; it also cuts out that layer of middlemen taking a cut. This is what the crypto world should be about: not staring at charts all day betting on price swings, but letting tools be tools, giving ordinary people a handle on globalization.

So today, I’m not going into hype topics. I just want to talk about what Etherfuse and Falcon Finance are doing—one is deeply rooted in emerging markets, the other is building out DeFi infrastructure. Mexican sovereign bonds, and somehow they’ve found a new way to play them.

Last night I tried it myself, staking some simulated assets on the Falcon platform. How did it feel? Like I finally found a window in the DeFi world that isn’t all about dollar hegemony.

Let’s start with Etherfuse. This project is Latin American to its core. Founder Dave Taylor previously worked at Apple and Boeing, but suddenly jumped into crypto in 2021, just to solve an old problem: people in emerging markets have pesos or reais in hand, but to play in DeFi they first have to swap to USDC. The fees lost in the process? Enough to eat tacos on the street for a week.

Etherfuse’s core product is called Stablebo—