Opinion by: Michael Egorov, founder of Curve Finance
The crypto world changes its focus every few months, with headlines standing on AI, Integration, Memecoins and Grand Web3 vision.
As the spotlight moves from trend to trend, a quieter, deeper transformation takes place under the surface: the gradual birth of a new financial system developed in stablecoins, decentralized finances (DEFI) and code-driven contracts.
This system can be called nominally “money2” – and it is not a theory or a future vision. It’s here.
Reports from early 2025 showed that, in February, the total supply of stablecoins reached $ 225 billion worth, achieving 63% year-on-year growth. This progress emphasizes the expansion of the role of stablecoins in payments and as a medium of exchange. As such, it also puts them as a key element in the development of a new global financial ecosystem.
Moreover, for the first time in history, financial services can work without mediators and trust in third parties. Loans, exchanges and payments do not have to rely on traditional mediators.
Instead, they run into intelligent contracts, transparent and unchanged code lines in decentralized blockchains. The code, not people, determines how money moves, how it is lent and how safe it is. This is not just a repackage of existing finances. This is a break from thousands of years before – a disintermediation that changes everything.
The construction of a financial system without trust
For all human history, money depends on trust in people or institutions. If transferring money, getting a loan or investment, an intermediary is always involved. Every traditional financial service depends on a bank, a broker or a regulated entity controlled by the government-it depends on trusting a person.
Because people and institutions will eventually fall, that trust has historically been betrayed several times. The whole legal frameworks, with audit and penalties, have changed in recent years to keep these third parties honestly – to better manage that trust.
The danger, however, remains.
Money2 removes dependency. In this new paradigm, smart contracts – code in decentralized blockchains – replace mediators. Transactions can be performed automatically and clearly without any gatekeepers or bias. Without the need for human decision or disruption. Code lang.
Related: South Korea’s central bank wants to gradually control Stablecoin
Through the defi, financial operations can occur without relying on people or institutions because the code is executed exactly as it is written. There is no banker to delay, deny a move OI -Freeze your funds. Everything is proven on the onchain, and what you see you get.
This is not just a technical improvement. It is a jumping throughout the financial philosophy. This means fewer opportunities for corruption, less bureaucracy and the potential to rewire how financial services work around the world, opening the door for smoother and accessible financial systems.
Defi and Stablecoins are more than ever before
The current Crypto narrative is increasingly interrupted and dominated by strong trends, which interfere with the most critical object allowed by blockchain: functional, scalable alternative to traditional finances.
Not all cases of using non -financial blockchain use are irrelevant.
While things like AI integrate into crypto are undoubtedly interesting, they do not fix the most important issue: that traditional finance is introduction. Money transfers are often canceled, international payments are slow, compliance checks can delay onboarding for days – the list continues.
Although major transactions are faced with failures, delays and significant fees.
The DeFI remains the most changing case of use for blockchain technology because it offers a way from all that, enabling payments, lending, trading and more without intermediaries. And when combined with stablecoins, these systems form the spine of money2.
The defi is not only to -Digitize the old frameworks but completely repair them. Even traditional financial institutions themselves can identify the value of decentralized solutions. It points to a significant transition to how tradfi’s institutions change their views.
What does Defi stop?
“If Money2 is very revolutionary, why hasn’t it been mainstream yet?” – is what can be asked at this point. Well, that’s because the shift it demands is uncomfortable in many ways.
And there are still obstacles that need to be installed first.
The first problem is simple: responsibility. Removal of mediators means that users are united. The transactions are irreversible, so there is no room for mistakes. Funds are rarely recovered if you lose access to your purse or fall for a scam. For many, it is too dangerous to do.
The defi now requires a steep learning curve, and self-custody is difficult. Most people are not ready to manage their private keys or navigate the complexity of smart contracts without a safety net. Not when they do not understand how either these or the dangers work.
Second, the web itself is not enough to be -optimize for this change. Traditional browsers and web architectures are currently developing the spine of Defi contacts, and they are not designed to safely handle the financial high stakes. Adoption and usability will not be widespread until new interfaces are built from the ground with a particular mind.
Finally, there is also a need to expand what asset classes are really available to the defi if it becomes more benefit to the world.
Stablecoins is a great start, but for Money2 that is truly realized as a whole financial system, we need more of the crypto-native elements. Real-World assets, such as stocks, bonds, goods and real estates, should be relevant and exchanged onchain.
Accept, that is a challenge to deal with, be technically, logistically or legal, so it’s longer to get there. It is also a challenge that is worth solving. Tackoing the entire range of value-travel assets will create a one-stop platform for all financial activities, essential for its continued evolution.
Opinion by: Michael Egorov, founder of curve finance.
This article is for general information purposes and is not intended to be and should not be done as legal or investment advice. The views, attitudes, and opinions expressed here are unique and do not necessarily reflect or represent the views and opinions of the cointelegraph.
