What many people get wrong about DeFi, according to the co-CEO of Kraken

Core Insights - Decentralized finance (DeFi) is recognized as a technology that disrupts traditional financial services, yet it also unifies various financial elements, according to Arjun Sethi, co-CEO of Kraken [1][3] Group 1: DeFi Overview - DeFi emerged around 2018 and is often described as a composable alternative to traditional financial services [1] - Traditional banks create walled gardens of financial services, limiting customer control over asset management [2] - DeFi allows customers to control their assets through open protocols, enabling unprecedented unification of the financial stack [3] Group 2: Kraken's Innovations - Kraken's recent product, xStocks, offers tokenized shares of popular companies like Apple and Tesla, appealing to markets such as South Africa and Argentina [4] - The DeFi aspect of xStocks allows for trading on any platform that supports the necessary protocols, contrasting with traditional brokerage limitations [5] - Currently, xStocks includes shares from around 50 companies, with plans to expand to 100 and eventually 1000 popular stocks [5]