By the end of 2021, at least one financial institution will launch its own Defi platform for its clients. This opinion was expressed by the head of forecasts of Ernst & Young (EY) Paul Brody.
According to him, EY continually communicates with various banks and large corporations. They see success in decentralized finance, so they take an interest in the industry. Brody believes that DeFi applications can run, for example, PayPal or Robinhood.
“This will be one of the next generations of application services that integrates DeFi and conventional transactions into a single window. Customers will have cryptocurrencies, bank deposits, and the ability to buy stocks and commodities in one application, ”added an EY representative.
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Brody noted that smart contracts and the emergence of regulated stablecoins are driving the adoption of DeFi by major financial institutions. According to him, the attractiveness of the platform is not in volatility, but in the ability to automatically receive passive income.