The CEO of KyberSwap believes DeFi will surpass TradFi in ten years

The CEO of KyberSwap believes DeFi will surpass TradFi in ten years

At Token2049, Victor Tran discussed the future of DeFi while also establishing a goal for KyberSwap to become the number one privacy-focused exchange.

Victor Tran (in the middle) onstage at Token2049, Singapore

SINGAPORE, Sep 29 – At today’s Token2049 conference, attended by over 7,000 industry professionals, institutional investors, and regulators, the CEO of KyberSwap, Victor Tran, made a prediction onstage that decentralized finance (DeFi) will replace traditional finance (TradFi) in ten years. On top of that, KyberSwap will also be the most utilized decentralized exchange (DEX) due to its inherent capability to offer the most competitive prices across the entirety of the decentralized finance industry.

During his participation on the panel titled “Decentralized Exchanges: The Road Ahead,” in which he was joined by the Co-Founders of 1inch Network and MANTRA, Victor Tran stated that customers of the future will place a high value on their right to privacy and control, especially in light of recent events that have taken place all over the world. 

“Today, users are still exposing their data as people can see what your wallets hold and what transactions you make at what prices. Users still participate in DeFi as it is a good option to earn while having custody of your own assets. The next step naturally will be privacy to protect their privacy. Together with that, major use cases like insurance will be increasing in a major way to provide more protection to users,” said Victor. 

As a result of the bear market, increasing users’ privacy has become a priority for the business, which is working to improve security measures, “It is important to provide stability to users as they are still dealing with the massive volatility and blowout in the markets with the downturn as well as several security issues like hacks in the market with lots of losses. In the short term, KyberSwap is focusing on providing stable DeFi earning potential throughout the bear market at least for the next one and a half years with major liquidity mining campaigns with our chain partners and project partners, like Polygon Chain, Avalanche Network, Lido Finance, and QiDao,” Victor discussed.

KyberSwap and other leaders in decentralization continually improving their ecosystem integration and UI/UX will build the Defi space to the extent that using a decentralized exchange and services will be as easy as using a digital banking app, or possibly even easier. This will occur as DeFi continues to grow, new use cases will be developed, and leaders in decentralization will continue to increase their ecosystem integration and UI/UX. This increased ease of use will attract a new generation of users and the unbanked, leading to more people choosing to onboard with cryptocurrency. This is especially true among the large and increasingly tech-savvy demographics of the world, such as those found in Asia, Latin America, Africa, and other regions. When all of these important considerations are considered, Victor thinks that Digital Finance will “flip” Traditional Finance (TradFi) as the preeminent power in the financial world in ten years. 

According to Victor, more and more institutions will also get involved in the DeFi movement. “Institutions value security, infrastructure, and privacy protection to support their needs, which are completely different from the retail users. We will soon unlock many infrastructures, applications, and privacy-focused features in DeFi, bringing in large amounts of institutional funds.”

KyberSwap is now a DEX aggregator, providing customers with the highest exchange prices on 12 chains. The company also aims to make DeFi simple, easily accessible, safe, and rewarding for people worldwide.

Victor concluded his speech: “Ultimately, at the end of the day, it is about making users’ lives easier. KyberSwap’s focus is 100% on maximizing users’ benefits and safety. What we see with Decentralized Finance is just starting, and it will grow exponentially. KyberSwap sees a tipping point in the next decade, and we are working endlessly to be an essential pillar of that future.”

About Kyber Network

Kyber Network is working on creating a world where any token can be used anywhere other. Our main decentralized exchange (DEX) aggregator and liquidity platform, KyberSwap.com, offers the most competitive prices for traders in DeFi and maximizes rewards for liquidity providers.

Since its beginning, KyberSwap has been responsible for the operation of more than one hundred integrated projects and has acted as a middleman for transactions totaling more than ten billion dollars, and is currently deployed on a total of 12 chains, including Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Cronos, Arbitrum, Velas, Aurora, Oasis, BitTorrent, and Optimism.

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Imran Mohamad, Head of Marketing at KyberSwap, email: [email protected], phone: +65 96925144

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