Crypto and DeFi are quickly becoming accepted by the mainstream. This news summary covers everything from companies launching DeFi services to new Ethereum funds announced.
A resurgence in Crypto and decentralized Finance (DeFi) is quickly becoming accepted by mainstream banks, businesses, and services. The rise of DeFi has been sparked by the recent launch of Ethereum 2.0, a proof-of-stake blockchain that is quickly gaining traction.
In recent news, PayPal is introducing a new service – allowing customers to buy, hold and sell crypto coins. This is a major step in making crypto currencies more accessible. Additionally, The Office of the Comptroller of Currency (OCC) has given some select banks the license to provide crypto services. This will allow the banking institutions to hold cryptocurrencies in wallets and intermediate transfers between various networks. This is another step in the direction towards a more decentralized finance system.
In addition to these headlines, a smattering of new DeFi funds have been announced. This includes the multi-million dollar Coinbase DeFi Index, which was created to help investors and traders gain exposure to a curated basket of tokens and other DeFi protocols. Similarly, Altcoins Capital, a venture capital firm based in the US, announced a new $200M fund. This fund will focus on investing in DeFi protocols and other related blockchain technologies.
DeFi is quickly becoming more accepted by mainstream institutions, and is growing stronger everyday. This new wave of DeFi protocols and services is sure to help spur wider adoption of cryptocurrencies and blockchain overall.
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