Traditional banks will not monopolize the crypto market. Stein Vander Straeten, CEO of Crypto Finance, a subsidiary of Deutsche Börse, revealed why crypto-native platforms are accelerating innovation.
The valuation is notable considering Vander Straaten leads a company owned by one of the world’s largest traditional exchange operators. His company is Swiss FINMA regulated and was one of the first companies in Europe to receive a MiCA license.
Banks lag behind, cryptocurrencies lead
In an interview with BeInCrypto at MERGE São Paulo, Vander Straeten explained that large financial institutions need to wait for guidance from regulators before entering new areas. This structural delay means DeFi adoption by banks could take another 5-10 years.
Meanwhile, crypto-native platforms are already putting pressure on traditional finance from the opposite direction. We offer weekend stock trading and instant settlement. He argued that young investors cannot accept waiting two days for stock trading to calm down.
“I don’t think the new generation understands why if they sell a stock today, they have to wait two days for it to settle. They want to be able to reinvest immediately,” Vander Straaten said.
This pressure is forcing banks to modernize, but the gap will persist. Large institutions will not run the risk of operating without a clear regulatory framework.
Still, the regulatory landscape is changing rapidly. The SEC and CFTC jointly classified 16 crypto assets as digital products on March 17th.
Vander Straaten acknowledged that banks can earn trust by playing by the rules. Professional investors are looking for governance that is often missing from crypto-native platforms.
“When it comes to innovation, challenger platforms are always quick,” he told BeInCrypto. “But if the rules aren’t clear, large institutions will never move into that space.”
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