US EditionDeFi near-zero onboarding costs can help 1.4B unbanked: 1inch co-founder
- Anton Bukov, co-founder of 1inch Network, highlighted during a panel in the Netherlands in May 2025 that onboarding users to decentralized finance incurs almost no cost compared to traditional banking methods.
- He explained that traditional banks spend $100-$300 and internet banks $20-$30 to onboard users, while DeFi requires only a smartphone and internet access.
- Bukov highlighted that 1.4 billion people remain unbanked due to high costs and logistical challenges but can access DeFi using stablecoins like USDT to participate globally.
- He highlighted that DeFi is becoming an expanding global hub of capital that fosters new developments, generates returns, and facilitates international financial transactions, while calling on governments to implement supportive regulatory frameworks.
- Bukov suggested DeFi's cost-efficient infrastructure could democratize financial access and empower populations previously excluded from traditional systems worldwide.
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10 Articles
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DeFi’s Near-Zero Onboarding Costs Could Help 1.4 Billion Unbanked, Says 1inch Co-Founder
Anton Bukov, Co-Founder of decentralized exchange (DEX), 1inch, highlighted that decentralized finance (DeFi) holds a significant cost advantage over traditional banking when it comes to onboarding new users. Speaking at a panel during Dutch Blockchain Week on May 22 2025 in Amsterdam, Bukov explained that traditional banks typically spend between $100 and $300 per user to handle document verification and account setup. Online banks, he added, r…
1inch Co-Founder: DeFi's Near-Zero Onboarding Can Bank the Unbanked
DeFi’s Edge Over Traditional Finance Decentralized finance (DeFi) could revolutionize financial access with its near-zero onboarding costs, according to Anton Bukov, co-founder of 1inch Network. Speaking at Dutch Blockchain Week in Amsterdam, Bukov said DeFi dramatically outperforms traditional financial institutions when it comes to user acquisition. Onboarding to DeFi literally amounts to zero,” Bukov said. In comparison, he went on, tradition…
CoinStats - 1inch Co-Founder: DeFi’s Near-Zero Onboarding...
DeFi’s Edge Over Traditional Finance Decentralized finance (DeFi) could revolutionize financial access with its near-zero onboarding costs, according to Anton Bukov, co-founder of 1inch Network. Speaking at Dutch Blockchain Week in Amsterdam, Bukov said DeFi dramatically outperforms traditional financial institutions when it comes to user acquisition. Onboarding to DeFi literally amounts to zero,” Bukov said. In comparison, he went on, tradition…
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