Crypto's Got This: Banks Are Still Playing Catch-Up

Traditional banks are stuck in the slow lane, while crypto-native platforms are speeding ahead. According to Stijn Vander Straeten, CEO of Crypto Finance, the delay is due to regulatory hurdles that banks must clear before entering the crypto space. This means DeFi adoption by banks could take another 5 to 10 years. Meanwhile, crypto-native platforms are offering weekend stock trading and instant settlement, forcing banks to modernize. But will they ever catch up? Vander Straeten notes that younger investors don't want to wait two days for a stock trade to settle, and that's driving change. The SEC and CFTC recently classified 16 crypto assets as digital commodities, but Vander Straeten says banks need clear regulatory frameworks to operate. Challenger platforms may be quicker to innovate, but large institutions will stick to the rules. For now, crypto's got this.