DeFi’s Low Onboarding Costs Unlock Financial Inclusion for 1.4 Billion

Anton Bukov, co-founder of decentralized exchange 1inch, highlights how DeFi platforms offer near-zero onboarding costs compared to traditional banking institutions. Speaking at Dutch Blockchain Week, Bukov revealed that traditional banks charge anywhere from $100-$300 per new customer for account verification and setup while online banks spend approximately $20-$30. In contrast, DeFi only requires a smartphone and internet connection for users to begin transacting.