Decentralized finance (DeFi) gave birth to a wide range of financial services that aim to challenge what traditional finance (TradFi) offers. However, the user experience persists as a major issue hindering the widespread adoption of DeFi apps and solutions. For years, the DeFi ecosystem has been seeking an entry point that can onboard the next wave of users to decentralized apps.
One potential solution is a financial technology (fintech) app that’s catered toward TradFi users and also offers easy-to-use DeFi functionality. This way, users can realize that self-custody, a practice that enables safeguarding digital assets in personal wallets without the help of a third party, can be a way forward and start ditching centralized intermediaries like banks.
While users’ quest to take full responsibility for storing and managing crypto assets picked up the pace with self-custody, the Web3 space created new services to let people swap, spend and earn crypto that utilizes both CeFi and DeFi aspects to help the migration process.
Envisioning a demand and emergence of new sophisticated decentralized financial apps, Changex, an all-in-one mobile wallet, employs a CeDeFi model, combining centralized and decentralized finance in a single screen in a bid to…
