Swiss National Bank Official: Central Banks Can Push DeFi into Mainstream

Among many various types of digital currencies, it is CBDC that could provide more stability and lower risks to the development of DeFi, according to Thomas Moser, a governing board member at the Swiss National Bank (SNB). In order to grow, DeFi needs stable money, which is why stablecoins were invented, and stablecoins clearly helped DeFi to become more popular, Moser told Cointelegraph. Despite being polar opposites, centralization and decentralization in digital currencies can actually work together as centralization is not bad for DeFi, Moser argued. He noted that major stablecoins like $USDT and $USDC are the most widely used stablecoins in DeFi, both of which are centralized. "Therefore, something centralized has already helped DeFi quite a lot."