Now more than ever, traditional financial services are responding to the needs and demands of their customers, recognizing that the increasing adoption of crypto assets as an investment class, the normalization of digital currencies, and the highly challenging landscape in which they operate, both operationally and regulatory wise, makes their ability to adapt and innovate critical to its survival.
DeFi is an emerging technology that is set to revolutionize the TradFi (traditional finance) sector. The need for such a player to bring an open and transparent ecosystem that can be utilized by the masses is the key impetus behind DeFi and TradFi bridging discussions.
Banks recognize this sector as a major disruptor in their operating environment, but also increasingly as opportunities, with most major banks now forced to have divisions and teams devoted to cryptocurrency and digital asset strategy and innovation. What the DeFi world should focus on is the latter by finding ways to work together to integrate and educate.
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