It’s no secret that 2020 has been the year of decentralized finance when it comes to the crypto world. In this regard, a number of DeFi tokens have enjoyed value surges recently, leading many experts to believe that the future looks bright for this niche sector. Global DeFi markets are continuing to scale up to all-time highs in terms of total value locked, reaching a peak of $4.75 billion on August 11.
As a result of these aforementioned developments, mainstream tech players are looking to help financial institutions capitalize on the ongoing DeFi hype. For example, Nitin Gaur, director of IBM (NYSE:IBM) financial services and digital assets previously told Cointelegraph that it is of utmost importance that traditional banks start to recognize and embrace the value propositions put forth by DeFi tech, otherwise, their existing business models could soon become outdated.
Continue Reading on Coin Telegraph
