Integrating cryptocurrencies with conventional financial systems becomes increasingly essential as they become more commonplace. This presents several obstacles to overcome before cryptocurrencies can realise their full potential. For instance, traditional institutions may be hesitant to work with cryptocurrencies due to concerns about money laundering and other illicit activities. Moreover, the technical difficulty of integrating cryptocurrencies with existing banking systems can prove intimidating.

DeFi uses blockchain technology to remove intermediaries from financial transactions. By leveraging blockchain technology, DeFi can bypass traditional barriers to financial services, offering...

The lack of change from service providers and poor services for individuals who rely on their systems has driven many to transition to financial technology to save time and money.