Fintechs Will Be the Future of Decentralized Finance According to Morpho Founder
The future of decentralized finance could be up to Robinhood and other fintech companies, according to one expert.
Paul Frambot heads up Morpho, a key lending protocol. He is the company’s founder and its CEO, and he says fintech services are going to lead the future for decentralized finance.
Fintech companies are some of the most future focused enterprises out there, and they are constantly looking for how to push the envelope when it comes to technology and make their operations more user friendly and accessible.
Frambot thinks fintech operations like Revolut and Robinhood are going to be the major way makers for the industry, shaping the future of DeFi more than anyone else. Speaking to DL News, Frambot said that it will be up to the tech-forward companies to create speculation that drives the market. He compared the current decentralized currency market to a casino and said that the industry has to move away from operating like that if it is going to advance.
Defi’s Future
Frambot sees the future of DeFi as something that reaches a lot more people, and companies like Revolut and Robinhood have the crypto integration to make that happen. On these platforms, crypto is already an integral part of how they function, and it is easy for Robinhood and other fintech companies to make cryptocurrency widely available to their many customers. They also do an excellent job of making crypto trading very simple.
On the other hand, competitors like BlackRock are too huge and unwieldy to help spur growth in the DeFi market. They are bogged down by all sorts of legal red tape that limits their movement. They also have to use more conventional methods so that they make their shareholders happy. There is little room for innovation with their current business models.
The companies that stand out in the decentralized currency market are those that are user friendly and that offer simple ways of trading digital assets. Platforms like Robinhood and Revolut offer commission free trades, which make them a great entry point for younger, less financially stable investors. Those people are the future of DeFi, and they are being left behind by the larger companies.
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