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Cryptocurrency

Mercuryo CEO Sees DeFi Headed Towards ‘Bank-Like’ Financial Products

As the world grapples with the complexities of traditional finance, a new player has emerged on the scene. Mercuryo, a payments infrastructure platform, is at the forefront of the decentralized finance (DeFi) revolution. In an exclusive interview with Cointelegraph, Petr Kozyakov, co-founder and CEO of Mercuryo, shared his vision for the future of DeFi and its potential to disrupt traditional financial systems.

A Program to Support Innovation in Web3 Consumer Use Cases

Mercuryo recently launched a program aimed at supporting 30 startups developing innovative Web3 consumer use cases within DeFi. This initiative offers funding, consultations with Mercuryo’s network, and an equity-free integration grant to assist scaling companies. The goal is to accelerate the development of user-friendly DeFi applications that can onboard millions of users.

Why DeFi?

When asked why Mercuryo chose DeFi as the focus for its ecosystem program, Kozyakov emphasized the long-term viability of the space: "We believe in the potential of DeFi to power most public markets over the next two decades and make private markets much more efficient." He added that before widespread institutional adoption, many consumer applications will emerge, demonstrating DeFi’s power to users.

The Potential of DeFi

DeFi has been touted as a game-changer in the financial world. Kozyakov believes that it has the potential to:

  • Power public markets: With DeFi, public markets can become more efficient and accessible.
  • Tokenize assets: DeFi enables the tokenization of assets, making them tradable on blockchain networks.
  • Improve efficiency: By leveraging blockchain technology, DeFi applications can automate processes, reducing costs and increasing speed.

The Future of DeFi: Bank-Like Products

Kozyakov’s vision for the future of DeFi is one where complexities are abstracted, and users interact with bank-like financial products built on DeFi protocols. He envisions:

  • DApps as interfaces: Decentralized applications (DApps) will serve as interfaces for DeFi applications, making it easy for users to access financial services.
  • Abstracted complexities: The complexities of fund conversion, bridging, and security measures will be abstracted, allowing users to focus on the financial products rather than the underlying technology.

Accelerating Trends

Kozyakov believes that DeFi teams can accelerate trends by:

  • Bringing liquidity to private markets: DeFi applications can bring more liquidity to private markets, making it easier for investors to access opportunities.
  • Tokenizing assets: By tokenizing assets, DeFi enables the creation of tradable assets on blockchain networks.
  • Improving efficiency: DeFi applications can automate processes, reducing costs and increasing speed.

Conclusion

The future of finance is decentralized, and Mercuryo is at the forefront of this revolution. With its program to support innovation in Web3 consumer use cases, Mercuryo is committed to accelerating the development of user-friendly DeFi applications that can onboard millions of users. As Kozyakov’s vision for the future of DeFi becomes a reality, we can expect traditional financial systems to be disrupted in ways both big and small.

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