Yao Zeng

Yao Zeng is Assistant Professor of Finance at Wharton School, University of Pennsylvania and NBER Faculty Research Fellow. His research examines financial intermediation through fintech innovations, cryptocurrency systems, and asset pricing dynamics.

Research pillars:

• Stablecoin runs and arbitrage centralization
• ETF liquidity transformation mechanisms
• Mutual fund operations in venture capital
• Payment system impacts on banking

Honors include Cynthia and Bennett Golub Faculty Scholar award. Publications explore financial stability implications of emerging technologies with regulatory relevance acknowledged by SEC and Federal Reserve.