Mercuryo CEO: DeFi Poised to Offer ‘Bank-Like’ Financial Products

Petr Kozyakov, CEO of payments infrastructure platform Mercuryo, believes that decentralized finance (DeFi) is on the cusp of offering financial products akin to those traditionally provided by banks. He predicts that the future of DeFi will be marked by the emergence of consumer-friendly applications before the widespread adoption of decentralized financial products by institutional investors.

Mercuryo, which recently launched a program to support 30 startups developing Web3 consumer applications within DeFi, is actively driving this shift. The initiative, announced on November 21, provides funding, consultations, and equity-free integration grants to help these startups scale and build innovative decentralized finance solutions.

In an interview Kozyakov shared his perspective on why Mercuryo is prioritizing DeFi and decentralized applications (DApps) in its ecosystem program. He explained that DeFi had already proven its “long-term viability”, establishing a foundation for future development and adoption.

DeFi’s Transformative Potential for Public and Private Markets

Kozyakov emphasized that DeFi could revolutionize both public and private markets in the coming years. He believes that decentralized financial systems will not only improve the efficiency of private markets but also power many public markets over the next two decades. However, before institutional adoption becomes widespread, Kozyakov anticipates a surge in consumer-facing DeFi applications that will showcase the technology’s capabilities to the broader public.

“We believe DeFi will power most public markets within the next 20 years and make private markets significantly more efficient. But before this widespread institutional adoption occurs, we will see many consumer applications emerge, showcasing the power of DeFi to individual users,” Kozyakov remarked.

Mercuryo is actively seeking startups that can onboard millions of users by leveraging DeFi technology. The goal is to create applications that are intuitive and easy to use for Web2 users, while also simplifying the complexities of cryptocurrency and decentralized finance for the mainstream audience.

DeFi Will Mirror Traditional Banking Systems

Kozyakov believes that, as DeFi technology matures, its complexities will be abstracted for the end user. He predicts that DApps (decentralized applications) will serve as user-friendly interfaces for DeFi protocols, much like traditional banking apps do today. This shift will make decentralized financial products more accessible to the general public.

“In the near future, decentralized applications will function as simple, accessible interfaces for DeFi products. The complexities surrounding fund conversion, bridging, and security measures will be hidden behind the scenes. Users will be able to interact with financial products that resemble traditional banking services but built on DeFi protocols,” Kozyakov explained.

More Accessible Financial Products for Everyone

Kozyakov further believes that as DeFi evolves, it will bring increased liquidity to private markets, enhance the efficiency of transactions, and open up new opportunities for tokenized assets. One of the most exciting developments is that financial products previously available only to high-net-worth individuals or institutional investors will soon be accessible to anyone around the world.

He highlighted how DeFi would democratize access to financial services, enabling a broader range of individuals to participate in markets that were once reserved for the wealthy elite. This transition could lead to a more inclusive financial ecosystem, where anyone with an internet connection can access advanced financial products and services previously out of reach.

Conclusion

As DeFi technology continues to evolve, Kozyakov and Mercuryo are betting on the future of decentralized finance as a driving force in the transformation of the global financial landscape. With innovations aimed at making DeFi more accessible and user-friendly, the path is set for decentralized finance to offer bank-like products to a wide range of consumers, revolutionizing how people interact with money, invest, and manage assets.