SI - XLF: Assessing Whether DeFi Can Rewire The Financial Sector

October, 31 2021 08:26 AM Silvergate Capital Corp - Class A

According to one of the world's most reputable business magazines, decentralized finance or DeFi has the potential to rewire how the financial industry works.
Indeed, DeFi, which has expanded the limits of FinTech companies is redefining the payment domain and other sectors where Financial Select Sector SPDR ETF provides exposure.
However, the big banks are fighting back and are using financial technology to grow activities and improve efficiency, amid some timid moves towards Blockchain.
A major milestone should be reached with regulators finally devising a way for banks to hold Bitcoins on their balance sheets and facilitate client trading, just like some DeFi plays.
Empowered by its holdings, as well as their ability to continuously adapt and leverage on FinTechs, XLF should continue to rise and reach $51-52 by August 2022.

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Company Name:	Silvergate Capital Corp - Class A
Stock Symbol:	SI
Market:	NYSE