The rise of neobanks like Revolut, Chime, and Monzo revolutionized banking with user-friendly apps, lower fees, and real-time financial insights. However, they are still tied to centralized systems and regulatory frameworks. Decentralized finance (DeFi) emerged as a radical departure from traditional banking, offering a borderless, intermediary-free financial system. However, its complexity has limited its accessibility to the average consumer. A new model called "Deobanks" seeks to blend the ease of digital banking with the decentralization of blockchain, offering a user-driven experience without intermediaries. Platforms like Fiat24 and Cashaa are exploring hybrid models that combine traditional finance with blockchain technology. WeFi, a Deobank, aims to merge banking functions with advanced DeFi tools, gradually transitioning to full decentralization as the market evolves. It plans to offer a comprehensive suite of services, including yield optimization, virtual cards, instant loans, and remittance. However, Deobanks face regulatory hurdles, as existing frameworks are designed for traditional financial services.



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