Banks may not wait for regulations to evolve but may launch products around decentralised finance to take advantage of costs. The high-paced development in decentralised finance, or DeFi, is increasing pressure to launch official digital currencies as those following the new world are sitting still, according to Capgemini’s chief technology and innovation officer for financial services, Sudhir Pai. According to him, JP Morgan’s decision to launch a branch in the Metaverse and the decision to hold the Australian Open tennis in the Metaverse are indications of the interest in the next wave of decentralised finance. Decentralised finance cannot be ignored by regulation as the next-generation decentralised infrastructure is getting very close to existing payment rails with transaction speed, security and very low level of costs.