
PayPal (NASDAQ:PYPL), MasterCard (NYSE:MA), Unionbank – all these major players have already announced cryptocurrency products. However, it remains to be seen if CeFi institutions can ensure a seamless crypto-fiat flow and successfully compete with more agile crypto-native platforms that support multiple fiat systems.
DeFi has just 2% of PayPal’s users because of high entry barriers – and many banks are ready to capitalize on the opportunity