Fixed Income refers to those investments, which pay interest until the maturity date. The interest payments are known in advance. The principal is paid back at the maturity or in tranches. The principal payments are known as well in advance. This allows calculating the yield (return) of the Fixed Income instruments based on the Discounted Cash Flow models.
The Fixed Income market can be split into the:
Bank credit, which are not securities and which are usually not transferable
Bonds, which are securities, which are transferable, and which are traded over the OTC or exchanges
The Fixed Income market is 5-10 times bigger than the global equity market.
However, in the crypto sector, the fixed income is 5-10 times less than the crypto equity market. This indicates a significant potential in comparison to the traditional markets.