Capital Market Associate

About the role

Capital Market Associate New York Growth / Remote apply for this job Gauntlet serves $1.5B+ in client TVL, and we re extending that expertise into on-chain borrow and origination - giving institutional borrowers efficient, competitively priced access to capital on-chain. This is a rare opportunity to build a new institutional credit business from the ground up. You ll source the relationships, evaluate them alongside our Credit Risk team, structure and close the terms, and then own and grow that book over time - staying with each relationship rather than handing it off. If shaping something new and owning it end-to-end is the kind of work you re looking for, we d love to talk. About Gauntlet Gauntlet builds the financial systems of the future. While much of on-chain finance is focused on point solutions, we operate across the entire stack to offer best-in-class vault products. Today we serve over $1.5B in client TVL across some of the largest fintechs/neobanks, protocols, exchanges, and capital allocators in crypto - and, increasingly, traditional asset management. Our team brings together traditional finance and crypto-native expertise to deliver durable, sophisticated products for institutional clients moving on-chain. The role The Capital Markets team sources institutional borrow demand into Gauntlet s credit markets, structures terms, and operates the resulting book over time. You will originate and manage on-chain borrow products across prime brokerages, trading firms, and asset-backed lending opportunities to build Gauntlet s tokenized borrowing book. You own the full relationship lifecycle: sourcing, credit-risk evaluation alongside our Credit Risk team, structuring and closing term sheets, and ongoing commercial management. You work primarily on Era infrastructure, and on Morpho once its fixed-rate ( Midnight ) lending is live. Early on you ll help operationalize our first on-chain borrow product and document the playbook so the model can scale. What you ll do; Originate institutional borrow demand across collateralized lending, trading and hedging strategies, structured credit, and liquidity products - from prime brokerages, trading firms, and asset-backed lending partners. Build the borrower pipeline across three segments: (1) unique-market-access counterparties (e.g. RWAs); (2) committed-supply-at-scale borrowers (market makers, OTC desks, trading desks); (3) KYC-gated counterparties (regulated borrowers who cannot legally use open pools). Filter early with Credit Risk: work with the internal credit-risk team up front to evaluate and qualify opportunities, so you don t burn cycles on deals that won t clear. Structure and close term sheets - negotiate rate, term, size, and collateral; coordinate KYC, gating, and onboarding through to close. Own and grow the book - long-term commercial maintenance, renewal, and expansion of every relationship you originate. You keep it; it does not get handed to a separate account manager. Operationalize and document the first on-chain borrow products (starting with our current pilot) so the process is repeatable as deal volume grows, and manage inbound interest as we execute more deals. Work cross-functionally with Credit Risk, Strategy & Growth, Product, and Engineering on operational integration, and contribute to credit terms guidance (what we offer, minimum rate, maximum term) set with Credit Risk. What success looks like; First 30 days. Ramp on Gauntlet s infrastructure (Era, and the Morpho roadmap) and the existing partnerships. Meet stakeholders across Credit Risk, Strategy & Growth, Product, and Engineering and the live counterparties, develop a clear view of the pipeline, and identify the gaps. First 3-6 months. Operating your own pipeline across the three segments and live on term-sheet negotiations. Concretely: drive a proof of concept on Era infrastructure and secure first logos with innovative partners - e.g. a large prime brokerage expanding into the US, and an SME-lending originator - established as the point of contact for at least one counterparty. In 1 year. Originated and closed multiple institutional credit relationships adding meaningful book size, measured against TVL-based goals. Owning the book with a consistent maintenance / renewal / expansion cadence, recognized internally and externally as a Gauntlet voice, and contributing reusable playbooks and terms guidance that compress future deal cycles. What you bring; 2-6 years in Investment Banking, Leveraged Finance, or Capital Markets at a leading sell-side institution (e.g. Morgan Stanley, Goldman Sachs, JPMorgan). A candidate with 2 strong, switched-on years counts as much as one with 6. Direct experience with financing transactions, debt raises, warehouse facilities, asset-backed financing, structured credit, or other capital-markets products. Credit / leveraged-finance grounding: comfort with collateralization, liquidity, leverage, covenants, counterparty risk, and funding costs. Exposur

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