Crypto and DeFi disintermediate banking in new ways, says OCC head
The head of the body in charge of overseeing U.S. banks named cryptocurrency and decentralized finance (DeFi) activity among factors contributing to disintermediation of the banking system. On Sept. 15, speaking at a meeting of the Exchequer Club — a group of senior economic and financial policy professionals headquartered in Washington, D.C. — Acting Comptroller of the Currency Michael Hsu delivered remarks on the topic of safeguarding trust in banking.In the speech, Hsu named reducing inequality, adapting to digitalization, acting on climate change and guarding against complacency as the....
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Breaking down the concept of DeFi and its ecosystem, as well as strategies and the risks for private and professional investors who plan to allocate capital to decentralized space. Decentralized finance (DeFi) is a concept that has received a lot of attention since the so-called DeFi Summer of 2020 because its usage, often measured in total value locked (TVL), has risen dramatically since that time. In the last year alone, TVL rose by over 240% to a current $209 billion in “value locked” within DeFi projects, according to DefiLlama. Not only has it become interesting for investors to get....
Welcome to the second installment of our interview series with the ADALend CEO Kaspars Koskins. Recent events in the US and Canada have illustrated that Decentralized Finance is more important than ever before. ADALend is at the vanguard of this revolution in the lending industry by using blockchain technology to disintermediate the traditional middlemen – […]
"I've been around crypto for a decade now and DeFi has me as excited as when I mined my first bitcoin," Harrap told CoinDesk.
The growth of decentralized finance (DeFi) has exploded over the last year, beginning with less than $1 billion in total locked value to almost $20 billion currently. DeFi has created transactional opportunities that were previously impossible without blockchain technology, unlocking additional value for users that was previously captured by third parties. With the explosion of DeFi applications, more cryptocurrency users are discovering ways to generate additional yield on their cryptocurrency holdings, both actively and passively. […]
A Bank of International Settlements (BIS) executive, Benoît Cœuré, says that crypto is “growing very fast” and ”becoming mainstream in different ways.” Emphasizing that decentralized finance (defi) is a “wake-up call” for financial regulators, he said countries “are likely to agree on a global framework for crypto next year.”
BIS Officer Sees Defi as a Wake-up Call for Regulators, Global Policy Expected Next Year
Benoît Cœuré, a member of the BIS Executive Committee who is currently....