Crypto Corner: DeFi’s decade-long journey from $21 bn to $1.5 tn

Decentralised finance (DeFi) is gaining traction as an alternative to centralised finance, with strong growth being reported. The model reduces reliance on traditional institutions and supports peer-to-peer transactions through blockchain technology.Demand for transparency, accuracy, speed, efficiency, and lower costs has supported the adoption of DeFi globally. It creates a borderless financial environment where banks or middlemen are not required.

2024, the global DeFi market was valued at about $21 billion. Estimates for 2025 place it at $32.3 billion, with projections suggesting it could reach $1,500 billion by 2034.
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North America accounted for the largest share last year at 37%, followed by Europe at 29% and Asia Pacific at 23%. Latin America, Africa, and West Asia together contributed about 3%. Asia Pacific remains the fastest-growing market.

Growth has been driven by younger users, rising demand for financial inclusion in countries with low banking penetration, and mobile-first financial services. Startups are launching user-friendly apps aimed at retail customers, while efforts in developer training, community building, and crypto education continue to support adoption.

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