TrueFi

TrueFi is a DeFi credit protocol launched in November 2020 by Rafael Cosman that pioneered uncollateralized lending on the Ethereum blockchain. The protocol introduced on-chain credit scores to replace traditional collateral requirements, enabling verified institutional borrowers to access capital based on reputation and creditworthiness. Over its history, TrueFi originated over $1.7 billion in loans to more than 30 institutional borrowers. The protocol has since rebranded to Brila, expanding into a multi-product DeFi ecosystem including Elara (yield optimization), Cyan (NFT lending), and Brila RWA (institutional real-world asset lending). Headquartered in San Francisco, TrueFi/Brila is backed by investors and operates as a DAO-governed protocol.