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Decentralized finance (DeFi) is poised to offer financial solutions reminiscent of traditional banks, according to the CEO of payments infrastructure platform Mercuryo.
Mercuryo recently <a href="https://cointelegraph.com/news/mercuryo-ceo-ecosystem-program-defi-dapps" rel="noopener noreferrer nofollow">initiated</a> a groundbreaking program aimed at fostering innovation in the Web3 space by supporting 30 emerging startups focused on crafting consumer-centric DeFi applications. Announced on November 21, the endeavor provides essential resources such as funding, expert consultations, and a unique equity-free integration grant to help these companies scale successfully.
Petr Kozyakov, co-founder and CEO at Mercuryo, communicated through a written Q&amp;A with Cointelegraph, stating that the longevity and viability of the DeFi space is already well established. This underpins the company's decision to focus on decentralized applications (DApps) within their ecosystem program.
The initiative targets startups that align with the crypto industry's foundational values such as interoperability, open-source development, and self-custody. Kozyakov highlighted DeFi's transformative potential across both public and private markets: "We anticipate DeFi will dominate public markets within the next two decades while enhancing private market efficiencies. Prior to broad institutional uptake, consumer applications will showcase DeFi's capabilities to end-users."
Mercuryo is actively seeking startups that can onboard millions by harnessing DeFi technology. The objective is to craft applications that engage Web2 users by demystifying the cryptographic elements.
Kozyakov predicts that DeFi's complexities will soon be simplified. He foresees DApps functioning as gateways to DeFi applications, ultimately offering financial products akin to those provided by banks: "In the foreseeable future, users will engage with DeFi through bank-like products, facilitating funds conversion and ensuring security is streamlined."
He further mentioned that DeFi protocols will drive trends in asset tokenization, bolster market liquidity, and enhance overall efficiency. Consequently, financial products currently exclusive to affluent investors will become accessible globally to anyone.

'Banking Without Banks': Mercuryo CEO Predicts DeFi's Next Chapter

Yellow News

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