Quatrefoil Data Services (“Quatrefoil”) today announced its launch as a provider of institutional-grade benchmarks for digital assets. By establishing the rates and indices that markets can build upon, Quatrefoil is shaping the architecture for products that mirror the depth, liquidity, and reliability of traditional finance.
Quatrefoil’s flagship offering is the Composite Ether Staking Rate (“CESR™”), a benchmark that measures the “risk-free rate” of Ethereum staking. Originally created by crypto investment firm CoinFund Management (“CoinFund”), which also incubated Quatrefoil, and distributed by digital asset indices provider CoinDesk Indices, CESR provides a transparent, regulator-ready standard for yield measurement, positioning it as a foundational rate for product structuring in exchange-traded funds (ETFs), insurance, debt capital markets, futures, and other derivatives.
The absence of reliable, independent benchmarks has been one of the key roadblocks to crypto’s institutional adoption. Without them, markets lack the transparency, standardization, and compliance readiness required for regulated product creation. Unlike other benchmark providers, Quatrefoil’s specific focus on creating benchmarks for institutional-grade products gives the company an edge in the market. It provides that missing foundation, enabling fair pricing, robust risk management, and scalable product innovation.
“I’m excited to lead Quatrefoil Data Services at such a pivotal time for digital asset markets. The industry is evolving rapidly and our focus is on strengthening our position as a trusted source for crypto-based benchmarks while expanding the innovative services we offer to clients,” said Finbarr Hutcheson, CEO of Quatrefoil. “The support we have seen from foundations and investors has been inspiring.”
“At Quatrefoil, we see benchmarks as a force multiplier,” said Jason Hall, COO of Quatrefoil. “We take the innovation happening in crypto and package it in a way that’s usable by foundations, protocols, and institutional investors alike — unlocking real products and driving the convergence of traditional and digital assets.”
Former CFTC Chair Joins as Advisor
In addition to its launch, Quatrefoil announced it has engaged The Honorable J. Christopher Giancarlo as a strategic policy advisor. Giancarlo served as the thirteenth Chairman of the U.S. Commodity Futures Trading Commission, where he played an instrumental role in regulating futures, options, and swaps derivatives markets. He is currently Senior Counsel at law firm Wilkie Farr & Gallagher, and authored CryptoDad: The Fight for the Future of Money. Giancarlo brings an unrivaled depth of regulatory knowledge, and he will be instrumental in helping Quatrefoil, and the broader crypto industry, create compliant products that are institutional-ready.
“Through its unique and differentiated experience across global futures and benchmark businesses, the Quatrefoil Data Services team is poised to fill the glaring gaps in crypto derivatives market structure by delivering unique and high impact crypto benchmarks to power a new generation of financial products,” said Giancarlo.
Building Market Infrastructure for Digital Assets
Benchmarks are actively being adopted across the ecosystem. CESR has been incorporated into Ethereum’s institutional initiatives and is relied upon by 40 of the top companies in crypto including FalconX and Coinbase, and is the reference rate for Etherealize, the institutional product, business development, and marketing arm of the Ethereum Ecosystem. Quatrefoil has received a U.S. patent for its benchmark methodology and is advancing new indices for Solana and Avalanche, targeted for launch later this year.
Beyond CESR, Quatrefoil’s pipeline includes benchmarks for validator pricing, liquid staking tokens, DeFi strategies, and stablecoin lending rates. These benchmarks will support the development of digital asset debt capital markets, credit and insurance solutions, and listed futures — the building blocks of a maturing, globally integrated financial system.
Behind Quatrefoil is CEO Finbarr Hutcheson, who spent 15 years at investment firm Goldman Sachs before serving as CEO of the London International Financial Futures Exchange. He was later appointed CEO of Intercontinental Exchange’s London-based clearing house, ICE Clear Europe. Hutcheson has served as a strategic advisor to crypto firms including Coinbase and Clearpool. He is joined by COO Jason Hall, an Army veteran who started his career on the buyside as an equity trader and later at the hedge fund Bridgewater Associates. He co-founded digital asset investment firm Methodic Capital Management and most recently co-founded real-world asset company Tokenyze, where he currently serves as an advisor.
“Under the leadership of Finbarr Hutcheson and Jason Hall, Quatrefoil is poised to deliver the high impact, foundational benchmarks needed for the institutionalization of the crypto asset class,” said Christopher Perkins, Managing Partner and President at CoinFund, and inventor of CESR. “In the future, we expect the benchmarks they produce, like CESR, to underpin trillions of dollars of financial products.” Institutional demand for digital assets continues to accelerate, with regulatory clarity steadily advancing across major jurisdictions. The SEC has recently declared that staking is not considered an offering of a security, and that self-certification of decentralization is permitted – opening the door to new products like crypto-based ETFs and digital asset treasuries. Benchmarks represent one of the most established and profitable models in traditional finance, generating recurring revenues and commanding premium acquisition multiples. Quatrefoil is positioned to become the reference rates provider for a multi-trillion-dollar digital asset economy
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