‘DeFi is dead’: Maple Finance’s CEO says onchain markets will swallow Wall Street

Core Viewpoint - The concept of decentralized finance (DeFi) is evolving, with a shift towards integrating it into traditional financial markets, rather than treating it as a separate entity [1][4]. Group 1: Future of DeFi and Traditional Finance - Institutions are expected to no longer distinguish between DeFi and traditional finance (TradFi) in the coming years, as all capital market activities will transition to on-chain systems [1]. - Blockchains are anticipated to serve as the new infrastructure for financial services, similar to how the internet transformed shopping [2]. - The legacy financial services sector is expected to adopt crypto as the primary infrastructure for capital markets, with transactions increasingly settling on public ledgers [3]. Group 2: Adoption and Regulatory Framework - A proper regulatory framework is necessary for the transition to on-chain finance, which will be primarily utilized by large financial entities such as sovereign wealth funds and asset managers [4]. - The total overhaul of the financial system is projected to take time, but early signs of change are already evident [5]. Group 3: Stablecoins and Institutional Adoption - The adoption of stablecoins is gaining momentum, with major financial institutions like PayPal, Société Générale, and Fiserv launching their own stablecoins, and Wall Street firms expressing interest in similar initiatives [6].