Thrupenny, a leading provider of blockchain-based financial services, has asserted that stablecoin adoption will grow and propel the decentralized finance (DeFi) space. In a recent interview, the CEO of Thrupenny, Alvis Leong, argued that amid the global economic turmoil and rising global inflation rates, people would look to stablecoins not only as a store of value but also as a means of transaction.
Leong believes stablecoins act as a reliable and effective payment layer that makes it easier for individuals and businesses to transact and exchange value. In his words:
“Stablecoins have the potential to be the bridge between traditional finance and DeFi. They offer a stable and secure way to exchange value, making it easier for people to start with DeFi.”
Furthermore, Leong believes that the clarity of assessing risk in decentralized finance is superior to traditional financial products. He notes that operating within the DeFi ecosystem will become more cost-effective as risks become more transparent and easier to quantify.
The CEO stated:
“The DeFi space offers increased visibility and a more precise way of determining risk, making it a more cost-effective option compared to traditional finance where risk can be harder to pinpoint.”
Additionally, Leong recognizes the challenges within the DeFi space, including the backing of decentralized stablecoins and their collateralization. However, according to him, these challenges will subside with continued innovation and development.
“DeFi has the potential to change the financial industry in a major way,” Leong explains in a press statement, adding that “it provides a more secure, transparent, and efficient way to exchange value.”
Notably, Thrupenny is a DeFi solutions provider at the forefront of the revolution, committed to providing customers with the best possible DeFi experience. The company offers innovative lending and borrowing services to individuals and businesses alike.
According to CoinMarketCap data, the Thrupenny token, TPY, trades at $0.712483 with a 24-hour trading volume of $1,882,744, which is over 18% high than the previous day. Crypto traders and traders have seen a 247.86% positive gain on TPY from its September all-time low of $0.2048.