DeFi to Mirror Bank-Like Products Soon, Predicts Mercuryo CEO

Mercuryo CEO Petr Kozyakov anticipates DeFi applications evolving into user-friendly, bank-like platforms, driving consumer adoption and reshaping global finance.

Decentralized Finance (DeFi) is on the verge of a major transformation, according to Mercuryo CEO Petr Kozyakov. In a recent statement, he highlighted the industry’s potential to create financial products that closely resemble those offered by traditional banks. This evolution, Kozyakov says, will pave the way for widespread adoption, particularly among consumers, before institutional players fully embrace the space.

Mercuryo’s Initiative to Advance DeFi Innovation

To accelerate this vision, Mercuryo has launched a program to support 30 startups developing Web3 consumer-focused use cases. Announced on November 21, the initiative offers funding, equity-free integration grants, and expert consultations to startups that align with crypto’s core principles of interoperability, open-source development, and self-custody.

“DeFi has already proven its long-term viability,” Kozyakov shared in a Q&A with Cointelegraph, adding that his company is prioritizing startups capable of onboarding millions of users by simplifying access to DeFi.

Bank-Like Products and Simplified Interfaces

Kozyakov believes that DeFi applications will soon abstract their complexities, offering users a seamless experience similar to interacting with traditional banking products.

“In the near future, decentralized applications (DApps) will serve as the primary interfaces for DeFi. The complexities of fund conversion, bridging, and security measures will be abstracted, making DeFi indistinguishable from traditional bank-like financial products,” he stated.

This shift is expected to democratize access to financial products, making services traditionally reserved for high-net-worth investors available to users worldwide.

The Transformative Power of DeFi

Mercuryo’s initiative underscores the transformative potential of DeFi in both public and private markets. Kozyakov envisions DeFi powering most public markets within two decades while making private markets significantly more efficient.

He also predicts that DeFi teams will play a crucial role in driving this transformation by:

• Tokenizing assets to bring liquidity to private markets.
• Expanding access to previously exclusive financial products.
• Improving overall market efficiency.

DeFi for the Masses

Kozyakov’s vision aligns with the broader goal of making DeFi accessible to mainstream users by leveraging Web3 technology. As startups under Mercuryo’s program begin rolling out applications designed to appeal to Web2 users, the gap between traditional finance and decentralized ecosystems may finally begin to close.

The future of DeFi is clear: a bank-like experience that retains its core principles of decentralization and user control.

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