The co-founder of the first federally-chartered crypto bank breaks down why DeFi won’t replace the traditional financial system – and shares his favorite strategy for finding the best yields in crypto lending

• Many crypto bulls believe blockchain and DeFi will replace traditional financial institutions.
• Diogo Mónica, co-founder of Anchorage, sees a more complementary coexistence in the future.
• He also shared the easiest way investors can find yield in crypto lending.

Many crypto bulls will speak in terms of revolution when talking about how blockchain and decentralized finance (DeFi) technology will change the financial world.

No more banks, no more centralized control – a complete shift to a democratized financial system where users can anonymously lend to one another using a system governed by a set of code.

Diogo Mónica, co-founder of Anchorage, the first federally chartered crypto bank, doesn’t quite see it like that. Because Anchorage is federally chartered, it has to play by the same rules as traditional banks, which allows greater institutional trust in crypto products, Mónica said.