According to ChainCatcher, at the Solana Breakpoint conference, Emily, founder of Byreal and head of Bybit Spot, stated that as RWA and institutional funds continue to enter the crypto market, CeFi, DeFi, and TradeFi are no longer separate systems, but are accelerating their integration to form a new form of on-chain financial infrastructure.
Emily stated that the core challenge facing on-chain adoption is not whether users can access DeFi, but rather how to lower the barriers to entry between different financial systems while ensuring security and efficiency. Future on-chain experiences should seamlessly integrate decentralized liquidity and on-chain assets within familiar user paths, rather than requiring users to frequently switch between different systems. As RWA gradually becomes an important on-chain asset class, platforms with true growth potential will be those infrastructures that can integrate centralized entry points, decentralized liquidity, and traditional financial assets within a single experience. Emily cited the development of Solana and Bybit as examples, pointing out that TradeFi, CeFi, and DeFi are no longer three parallel paths but are undergoing systemic convergence.
Emily stated that Byreal, built on Solana, was designed around this convergence trend. Byreal is not an independent DeFi product, but rather works in tandem with Bybit Alpha as a key infrastructure connecting centralized entry points and on-chain liquidity. Bybit Alpha acts as the CeDeFi connection layer between CeFi and DeFi, while Byreal serves as the underlying on-chain execution and liquidity access layer. This allows users to seamlessly participate in on-chain transactions within a familiar workflow and directly access decentralized liquidity, transparent settlement, and on-chain ownership mechanisms, thereby promoting the large-scale application of real-world assets and on-chain markets.
Emily concluded that the billions of on-chain transactions in the future will "begin in CeFi, occur in DeFi, and be driven by TradeFi assets," and the next growth cycle of the industry will be defined by this convergent architecture.
