Maple Finance CEO Sid Powell has stated that DeFi as a standalone category is effectively dead, predicting that all capital market activity will ultimately occur on the blockchain. He characterized the outlook as a shift toward on-chain operations across crypto markets over the coming years.
However, Powell emphasizes this does not spell the end of DeFi itself. Rather, it signals an evolution in how DeFi is treated, moving away from a distinct category and toward integration with traditional markets. In an interview with CoinDesk, he noted that institutions will likely no longer distinguish between DeFi and TradFi in the near future.
Powell also forecast that tokenized private credit will become the key growth driver in on-chain finance, with DeFi’s total market capitalization potentially reaching one trillion dollars. He warned that as small businesses and neo-banks pursue cheaper fees, on-chain credit defaults could surge by 2026, while stablecoin payments might rise to fifty trillion dollars.
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