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Defi Cannot Thrive in Silos:Binance Chief Security Officer

Rachael Kongahage
Written By: Rachael Kongahage
Gaetan Lajeune
Reviewed By: Gaetan Lajeune
  • Read Time: 3 mins
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Defi Cannot Thrive in Silos

Centralized finance and decentralized finance, Defi cannot thrive in silos; was among the many interesting perspectives shared by Binance Chief Security Officer Jimmy Zhigang Su. 

Zhigang Su, a veteran guardian of the exchange’s defenses since 2020, shared these views, while speaking at Future Blockchain Summit which is currently underway at Dubai Harbour, in UAE. 

Tradifi and Defi cannot thrive alone

Zhigang Su, the Chief Security Officer of the globe’s biggest crypto platform by volume, dismantled the myth of DeFi as a standalone powerhouse. 

“In the safety landscape, I don’t view DeFi and centralized exchanges in their own silos because they’ve become vital tools for investors,” he declared. 

“In combination, they’re an effective toolkit,” Su emphasized, reiterating that DeFi cannot thrive in pure isolation.

Chaos looms over the crypto world right now and a fragile future of decentralized finance is what nobody wants. Centralized giants like Binance feature seamless interfaces, deep liquidity, and compliance, but the industry lost over $2 billion to crypto crimes in 2024 alone. 

Amid the buzz of innovation and regulatory hurdles, a stark reality remains that DeFi cannot thrive without bridging the gap to centralized systems, despite crypto’s ideological divide. 

In fact, Binance, under Changpeng Zhao (CZ), has long championed a hybrid path, admitting centralization’s efficiency while advocating for  DeFi’s dominance. 

Yet, as the industry wrestles with censorship vulnerabilities in blockchain layers, Su’s words warn that DeFi cannot thrive amid such risks without centralized safeguards.

Traditional Finance Experts call for unity

Meanwhile, Christoph Koster, CEO of Ruya Bank called for unity between traditional finance (TradFi) and DeFi. Ruya is UAE’s pioneer sharia law compliant digital Islamic bank.

With expertise in crafting platforms for giants, Koster stressed regulatory harmony. 

“Bridging regulation ensures customer onboarding, KYC, and compliance alignment between TradFi and DeFi,” he said. 

“Gaining Web3’s trust that TradFi isn’t the enemy, but the enabler, is key.” 

Defi Cannot Thrive in Silos

Koster’s vision mirrors Ruya’s Sharia-aligned digital push, proving DeFi cannot thrive without TradFi’s enabling hand in a blockchain-hotspot like the UAE. 

As you can see, Su and Koster’s insights call for a hybrid financial revolution reinforcing that DeFi cannot thrive in a fragmented ecosystem.

About Future Blockchain Summit 

The Future Blockchain Summit is MENA region’s premier blockchain and Web3 conference, designed to fuel innovation in decentralized technologies, crypto, and emerging fintech trends. It is held annually in Dubai.

The Future Blockchain Summit is currently under way at Dubai Harbour. It brings together industry leaders, startups, investors, regulators, and tech enthusiasts for immersive discussions, networking, and hands-on experiences.

The Coin Medium team will be at the venue. Reach out to us on location or on social media for more information.

  • Tags: Blockchain, Future Blockchain Summit, News

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Rachael Kongahage

I'm a passionate and experienced Writer, Broadcaster, and Communications professional with a diverse background spanning sustainability, digital transformation, branding, employee communications, Web3, crypto, and current affairs. I thrive on blending storytelling, voice, strategy, and news reporting to engage and connect with audiences in meaningful and impactful ways.
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