If you're building a crypto neobank or defibank, you're first competing with other top crypto apps (right), and bigger picture, your competitors are massive fintech apps and fintech neobanks (left)
"Neobanks" are the wrong name for banking on crypto rails. These have been around for years by the likes of Brex, Mercury, Chime, Sofi, N26, Revolut etc. They are traditional, centralized banks with a slicker UX
DeFi banks on the other hand allow for payments, remittences, earning, borrowing, and saving completely on decentralized blockchain rails. Similar USPs but - onchain capital markets means tapping into a global liquidity layer. Everything is faster, composable, permissionless, and allows for higher APR yields too.
"Neobanks" are the wrong name for banking on crypto rails. These have been around for years by the likes of Brex, Mercury, Chime, Sofi, N26, Revolut etc. They are traditional, centralized banks with a slicker UX
DeFi banks on the other hand allow for payments, remittences, earning, borrowing, and saving completely on decentralized blockchain rails. Similar USPs but - onchain capital markets means tapping into a global liquidity layer. Everything is faster, composable, permissionless, and allows for higher APR yields too.
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