DeFi won't win over big banks until it fixes its hacking problem, executives say
Lenders are particularly interested in blockchain's back-office applications, but security failures are blocking wider adoption....
Key takeaways
- 1In April 2026, DeFi experienced 27 security breaches across 30 days; Drift Protocol and Kelp Dao lost nearly $600 million to North Korean hackers.
- 2Banks view DeFi's real value in transforming back-office operations, not speculative trading, but security flaws prevent institutional capital adoption.
- 3Societe Generale issues regulated stablecoins like EURCV and USDCV to bridge blockchain securities with cash settlement, addressing institutional demand for custodial safety.
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Why it matters
DeFi's institutional adoption—critical for mainstream growth in India's emerging crypto market—remains blocked by unresolved security vulnerabilities and bridge hacks. Bank-issued stablecoins and regulated frameworks could unlock trillions in institutional capital but require solving the infrastructure security problem first.
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