The legacy banking system and DeFi are markedly different. While traditional finance is slow to develop and adapt, in just a few years, companies operating in the DeFi sector have built a parallel financial system from the ground up. There are payment systems, lending protocols, exchanges and more. There is also a growing stablecoins market of fiat-pegged assets including Tether (USDT) and USD Coin (USDC).
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Source: Cryptocurrency - investing.com
