DeFi in 2024 – Ripple CEO predicts breakthrough in compliance – key information
- Ripple CEO Monica Long predicts that the main trend in the cryptocurrency industry in 2024 will be compliance in decentralized finance (DeFi).
- DeFi represents a progressive evolution of financial systems, moving from traditional structures to blockchain-based peer-to-peer finance.
- Despite the success of DeFi, the application of existing rules, especially in the area of decentralized exchange trading, remains a challenge that requires innovative approaches.
- Statista forecasts average revenue per user in DeFi at $1,378 in 2024, with the main share generated by decentralized exchanges (DEX) such as Uniswap.
- Compatibility in DeFi will be a key step forward, supporting real-world usability and mass adoption, especially through integration with existing infrastructures and systems.
DeFi as biggest breakthrough in 2024
Monica Long, CEO of Ripple, predicts that compliance in decentralized finance (DeFi) will become a key breakthrough in the cryptocurrency industry in 2024. In heralding the new era, Long emphasizes the need for compliance, usability and integration with existing systems, replacing speculative hype cycles.
DeFi represents the evolution of financial systems, moving from traditional structures to blockchain-based peer-to-peer financing. Despite DeFi’s market capitalization of $79.5 billion, the sector is attracting regulatory attention, particularly in the context of compliance with existing financial regulations.
Compliance challenges in DeFi
Long points out that applying existing rules to areas of DeFi, such as decentralized exchange trading, is challenging. However, she believes the industry needs to approach compliance without negotiation, a field she believes is ripe for innovation in 2024.
Statista forecasts average revenue per user in DeFi at $1,378 in 2024. A significant portion of that revenue is expected to be generated by decentralized exchanges (DEX), as evidenced by the success of platforms such as Uniswap, which generates millions of dollars in revenue for liquidity providers.
Long closes with a perspective, emphasizing that compliance at DeFi will serve real utility and mass adoption. Integration with existing infrastructures and systems will become a key step forward, and compatibility will support the harmonious development of the entire industry.
Summary
The Ripple CEO’s prediction points to the key role of compliance in the development of DeFi. The evolution of financial systems, related compliance challenges, revenue forecasts and prospects for the DeFi market reveal the dynamic direction the cryptocurrency industry may take in the coming years.
