How it works
A traditional carry trade unfolds in a series of deliberate steps:
A global fund borrows $100 million in U.S. dollars at 5%.
It converts those dollars into Egyptian pounds (EGP) or Brazilian reais (BRL).
It invests in short-term government debt yielding 20%.
It enters an FX forward or swap contract to hedge against currency depreciation.
The hedge might cost 5–8%, but the net yield remains around 10–12%.
That yield is real — based on sovereign debt, not speculation — but the barriers to entry are massive:
Minimum transaction sizes of $1–10 million.
Access to primary dealers and custodial infrastructure.
Complex regulatory, FX, and credit compliance.
For decades, the global carry trade has powered the world’s financial system behind closed doors — fueling liquidity in emerging markets, stabilizing currencies, and enriching those with institutional access.
Hamilton opens that system. By structuring reserves across sovereign debt markets and automating the carry trade through smart contracts, it turns this once-exclusive global yield engine into a transparent, programmable layer of economic participation.
The carry trade is how the world’s money moves. Hamilton is how it finally becomes accessible.
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