60B

There’s a quiet transformation underway in decentralized finance (DeFi).

While DeFi’s previous bull market was driven by eye-watering—and dubious—yields and speculative frenzy, the current growth has been powered by the sector becoming a backend financial layer for user-facing apps and increasing institutional participation, according to a Wednesday report by analytics firm Artemis and on-chain yield platform Vaults.fyi.

The total value locked (TVL) on top DeFi lending protocols—including Aave, Euler, Spark and Morpho—has surged past $50 billion and approaching $60 billion, growing 60% over the past year, the report showed. This growth has been driven by rapid institutionalization and increasingly sophisticated risk management tools.

“These are not merely yield platforms; they are evolving into modular financial networks undergoing rapid institutionalization,” the authors said.

Lending deposits on top DeFi protocols (Artemis)

The ‘DeFi mullet’

One of the key trend recently the report highlighted is user-facing applications quietly embedding DeFi infrastructure in the backend to offer yield or loans. These features are abstracted away from users creating a more seamless experience, a trend often called the “DeFi mullet:” fintech front-end, DeFi backend, the report said.

Coinbase users, for instance, can borrow against their bitcoin

holdings powered by DeFi lender Morpho’s backend infrastructure. More than $300 million in loans have already originated via this integration as of this month, the report pointed out.

Bitget Wallet’s integration with lending protocol Aave offers a 5% yield on USDC and USDT holdings across chains without leaving the crypto wallet app. PayPal is also doing something similar with its PYUSD stablecoin, offering yields near 3.7% to PayPal and Venmo wallet users, albeit without the DeFi element.

The report said crypto-friendly fintech firms with large user bases, such as Robinhood or Revolut, may also adopt this strategy and offer services like stablecoin credit lines and asset-backed loans through DeFi markets, creating new fee-based revenue streams.

Tokenized RWAs in DeFi

Increasingly, DeFi protocols are introducing use cases for tokenized versions of traditional instruments such as U.S. Treasuries and credit funds, also known as real-world assets (RWA).

These tokenized assets can serve as collateral, earn yield directly or be bundled into more complex strategies.

Read more: Tokenized Apollo Credit Fund Makes DeFi Debut With Levered-Yield Strategy by Securitize, Gauntlet

Tokenization of investment strategies is also becoming popular. Pendle, a protocol that lets users split yield streams from principal, now manages over $4 billion in total value locked, much of it in tokenized stablecoin yield products.

Meanwhile, Ethena’s sUSDe and similar yield-bearing tokens have introduced products that deliver returns above 8% through strategies like cash-and-carry trades, all while abstracting away the operational burden for the end user.

Rise of on-chain asset managers

A less visible but critical trend highlighted in the report is the rise of crypto-native asset managers. Firms like Gauntlet, Re7 and Steakhouse Financial allocate capital across DeFi ecosystems using professionally managed strategies, resembling the role of traditional asset managers.

These players are deeply embedded in DeFi protocol governance, fine-tune risk parameters and deploy capital across a range of structured yield products, tokenized real-world assets (RWAs) and modular lending markets.

The report noted that the sector’s capital under management has grown fourfold since January—from $1 billion to over $4 billion.

Read more: Crypto for Advisors: DeFi Yields, the Revival

Source link

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Visa and Mastercard just took a hit, and the world is starting to notice.

While Wall Street sees it as a dip worth buying, many see it as a wake-up call.

The payment giants that once ruled every checkout lane are no longer untouchable.

In an economy where every fee adds up, merchants and consumers alike are starting to ask: why are we still paying these middlemen to move our money?

As TradFi starts to wobble, new crypto projects are stepping into the spotlight with bold, fee-free solutions. Let’s take a look at some of the best altcoins leading the charge away from plastic.

Credit Cards Are Getting Crowded Out

Visa and Mastercard just lost a combined $60B in market value after reports surfaced that major global merchants are actively looking for ways to bypass traditional credit card networks.

Source: MarketWatch

Large retailers are frustrated by rising processing fees and are now exploring alternative payment systems that don’t rely on the same outdated rails.

This shift isn’t coming out of nowhere. It reflects years of mounting pressure. Businesses have long been fed up with paying 2–3% per transaction, only to deal with delays, chargebacks, and rigid systems.

Meanwhile, consumers are embracing faster, cheaper options like crypto and stablecoins. What used to be a niche is now looking more like a mainstream movement.

Visa and Mastercard still dominate today, but their grip is loosening. The future of payments is being rebuilt right now, and it’s not running on plastic.

1. Best Wallet Token ($BEST) – Fueling a Payments Revolution

Visa and Mastercard’s $60B slump shows just how vulnerable traditional payment systems have become – and Best Wallet Token ($BEST) is stepping in to build something better.

Best Wallet Token ($BEST) is the utility powerhouse behind one of the most ambitious payment ecosystems in crypto.

With over $13.3M raised in crypto presale and a current price of just $0.025185, $BEST is more than just hype. It’s laying the rails for a new financial future.

What makes it stand out? For starters, buyers of $BEST unlock real utility: reduced transaction fees, early access to new projects and higher staking rewards.

Best Wallet is also disrupting the wallet space with features like ‘Upcoming Tokens,’ a built-in presale discovery tool that lets users explore and join promising new projects directly within the app.

It’s secure, scam-proof, and designed to make presale participation fast and frustration-free.

Thanks to Fireblocks’ MPC-CMP security tech, you stay protected while enjoying cutting-edge tools.

With 70K+ followers and fast-growing adoption, $BEST could be on track to hit $0.072 by 2025, with even bigger upside beyond.

2. SUBBD Token ($SUBBD) – Kill the Middleman for Good

If Visa is the landlord of legacy finance, SUBBD Token ($SUBBD) is the wrecking crew.

SUBBD Token powers the first AI-driven, decentralized creator platform built to cut out the middlemen and hand the power back to influencers and fans. Right now, you can buy $SUBBD for $0.055675. With $662K already raised, it’s an under-the-radar gem with serious upside.

At its core, $SUBBD lets creators monetize directly – no YouTube cuts, no Patreon gatekeeping. Fans can tip, subscribe, and interact with their favorite influencers in real time, using instant, low-fee crypto payments. The platform supports both crypto and fiat, making it accessible across borders.

But what really sets $SUBBD apart is its AI agent.

Creators get a personal AI assistant to handle scheduling, content editing, and fan engagement. Meanwhile, users can generate AI-enhanced content, including approved avatars and short-form videos tied to top influencers.

With over 250M followers across its ecosystem and unique staking perks, $SUBBD isn’t just another token – it’s a full-blown Web3 content revolution. This is the kind of platform Visa wishes it could bill.

3. Smog Token ($SMOG) – Meme-Powered Utility with Bite

Meet Smog Token ($SMOG) – not your average meme coin. Built on Solana (with a bridged Ethereum version), it’s roaring into the scene with a sweet current price around $0.008913 and a juicy 42% APY for staking.

Think of it as a dragon-themed adventure where holding and engaging actually pays off.

At its core, $SMOG gamifies crypto: buy and stake to earn airdrop points redeemable for future token drops in ‘The Dragon’s Court’ community.

Daily quests, social media challenges, and chain actions fuel participation, and rewards. It’s not just fun, it’s effective. Over 110K token holders and millions of completed quests show the hype isn’t just smoke.

With a total supply of 1.4B tokens and 35% earmarked for airdrops, incentives are baked deep into its DNA. Plus, Smog’s Solana-Ethereum bridge expands its reach while staking stays accessible to both ecosystems.

If you’re plowing through TradFi tolls, Smog offers a cheeky detour – with gaming, yields, and community swagger wrapped in one.

A New Era Beyond the Plastic

Visa and Mastercard’s slump is a clear signal: TradFi is fading.

Crypto projects like $BEST, $SUBBD, and $SMOG are already stepping up, offering lower fees, more freedom, and real rewards.

The old system is cracking. It’s time to move on.

As always, do your own research (DYOR) before investing in crypto. This article is for informational purposes and doesn’t constiture financial advice.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.