Recent research released by @Mastercard and Sei highlights a prominent development in the financial sector, showing that the separation between TradFi and DeFi is steadily shrinking. The industry is currently witnessing the emergence of insured custody solutions, KYC-gated pools, and onchain venues overseen by banking institutions. Because these two ecosystems are continuously blending together, the exact point at which they intersect will ultimately depend on how these initiatives are executed.