Why a DeFi platform ditched its consumer app to become the secret backend for tech giants

CryptoInfo Editorial Team · Published on August 02, 2026 at 17:00 · Updated on August 02, 2026 · 1 min read

✓ AI-assisted, based on real reporting ✓ Educational content only — not financial advice ✓ Transparent Methodology

Key Takeaways

→The DeFi platform's revenue fell from $80 million to $20 million in the bear market
→The platform's OTC lending business has $260 million outstanding and targets $1 billion by year-end
→The platform has shifted its focus from consumer apps to backend services for tech giants

Disclaimer: This content is provided for informational purposes only and does not constitute financial or investment advice.

A DeFi platform has made a significant shift in its business model, abandoning its consumer-facing app to focus on providing backend services for major tech companies, according to reporting from CoinDesk.

The move comes after the platform experienced a substantial decline in revenue, from $80 million to $20 million, during the bear market.

Despite this decline, the platform's OTC lending business has seen rapid growth, with $260 million outstanding and a target of reaching $1 billion by the end of the year.

This change in strategy suggests that the platform is looking to establish itself as a reliable and secure provider of financial infrastructure for large tech companies.

Source: CoinDesk ↗