{"id":39311,"date":"2026-02-12T12:42:44","date_gmt":"2026-02-12T12:42:44","guid":{"rendered":"https:\/\/www.globalresearch.co.kr\/insight\/decentralized-finance-defi-market-mordor\/"},"modified":"2026-10-23T05:27:38","modified_gmt":"2026-10-22T20:27:38","slug":"decentralized-finance-defi-market-mordor","status":"publish","type":"post","link":"https:\/\/www.globalresearch.co.kr\/insight\/decentralized-finance-defi-market-mordor\/","title":{"rendered":"\uc138\uacc4\uc758 \ub514\ud30c\uc774(DeFi) \uc2dc\uc7a5 \uaddc\ubaa8 \ubc0f \uc810\uc720\uc728 \ubd84\uc11d &#8211; \uc131\uc7a5 \ub3d9\ud5a5 \ubc0f \uc804\ub9dd (2026-2031)"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.globalresearch.co.kr\/insight\/wp-content\/uploads\/2026\/02\/decentralized-finance-defi-market-1768313902597-major-players.webp\" alt=\"Chart\" class=\"aligncenter size-full\" \/><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.globalresearch.co.kr\/insight\/wp-content\/uploads\/2026\/02\/decentralized-finance-defi-market-size-image-1768313902206.webp\" alt=\"Chart\" class=\"aligncenter size-full\" \/><\/p>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-0\">1. \uc11c\ub860<\/p>\n<ul>\n<li class=\"toc-level-2\">1.1 \uc5f0\uad6c \uac00\uc815 \ubc0f \uc2dc\uc7a5 \uc815\uc758<\/li>\n<li class=\"toc-level-2\">1.2 \uc5f0\uad6c \ubc94\uc704<\/li>\n<\/ul>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-1\">2. \uc5f0\uad6c \ubc29\ubc95\ub860<\/p>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-2\">3. \uc694\uc57d<\/p>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-3\">4. \uc2dc\uc7a5 \ud658\uacbd<\/p>\n<ul>\n<li class=\"toc-level-2\">4.1 \uc2dc\uc7a5 \uac1c\uc694<\/li>\n<li class=\"toc-level-2\">4.2 \uc2dc\uc7a5 \ub3d9\uc778\n<ul>\n<li class=\"toc-level-3\">4.2.1 \ud575\uc2ec DeFi \uc218\uc9c1 \uc804\ubc18\uc5d0 \uac78\uccd0 \ucd1d \uc7a0\uae08 \uac00\uce58(TVL) \uc99d\uac00<\/li>\n<li class=\"toc-level-3\">4.2.2 \ubbf8\uad6d(ETF) \ubc0f EU(MiCA)\uc758 \uaddc\uc81c \uba85\ud655\uc131\uc73c\ub85c \uae30\uad00 \uc790\uae08 \uc720\uc785 \ucd09\uc9c4<\/li>\n<li class=\"toc-level-3\">4.2.3 \ub808\uc774\uc5b4-2 \uc218\uc218\ub8cc \uc555\ucd95\uc73c\ub85c \uc2e4\ud589 \uac00\ub2a5\ud55c \uc0ac\uc6a9 \uc0ac\ub840 \ud655\uc7a5<\/li>\n<li class=\"toc-level-3\">4.2.4 \ud1a0\ud070\ud654\ub41c \uc2e4\ubb3c \uc790\uc0b0(RWA) \ud50c\ub7ab\ud3fc\uc774 \uc740\ud589 \uc218\uc900\uc758 \uacac\uc778\ub825 \ud655\ubcf4<\/li>\n<li class=\"toc-level-3\">4.2.5 \uc0c8\ub85c\uc6b4 AI \uae30\ubc18 \u201cDeFAI\u201d \ub85c\ubcf4 \uc5d0\uc774\uc804\ud2b8\uac00 \uc218\uc775\ub960 \uc804\ub7b5 \uc790\ub3d9\ud654<\/li>\n<li class=\"toc-level-3\">4.2.6 \uacb0\uc81c \ub124\ud2b8\uc6cc\ud06c \ud1b5\ud569\uc73c\ub85c \uc8fc\ub958 \uc2dc\uc2a4\ud15c\uacfc DeFi \uc5f0\uacb0<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">4.3 \uc2dc\uc7a5 \uc81c\uc57d\n<ul>\n<li class=\"toc-level-3\">4.3.1 \uc2a4\ub9c8\ud2b8 \uacc4\uc57d \uc545\uc6a9 \ubc0f \uc624\ub77c\ud074 \uc870\uc791 \uc704\ud5d8<\/li>\n<li class=\"toc-level-3\">4.3.2 \ube44\uc900\uc218 dApp\uc5d0 \ub300\ud55c AML\/KYC \uc9d1\ud589 \uc870\uce58<\/li>\n<li class=\"toc-level-3\">4.3.3 \uc18c\uc218 \ud480\uc5d0 \ub300\ud55c \uc720\ub3d9\uc131 \uc9d1\uc911\uc73c\ub85c \uc2dc\uc2a4\ud15c \uc704\ud5d8 \uc99d\uac00<\/li>\n<li class=\"toc-level-3\">4.3.4 \ub808\ubc84\ub9ac\uc9c0 \ubc0f \ud30c\uc0dd\uc0c1\ud488\uc5d0 \ub300\ud55c \ud45c\uc801 \uaddc\uc81c \uc870\uce58\ub85c \ubd88\ud655\uc2e4\uc131 \uc57c\uae30<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">4.4 \uac00\uce58 \uc0ac\uc2ac \ubd84\uc11d<\/li>\n<li class=\"toc-level-2\">4.5 \uaddc\uc81c \ud658\uacbd<\/li>\n<li class=\"toc-level-2\">4.6 \uae30\uc220 \uc804\ub9dd<\/li>\n<li class=\"toc-level-2\">4.7 \ud3ec\ud130\uc758 5\uac00\uc9c0 \uacbd\uc7c1 \uc694\uc778\n<ul>\n<li class=\"toc-level-3\">4.7.1 \uc2e0\uaddc \uc9c4\uc785\uc790\uc758 \uc704\ud611<\/li>\n<li class=\"toc-level-3\">4.7.2 \ub300\uccb4\uc7ac\uc758 \uc704\ud611<\/li>\n<li class=\"toc-level-3\">4.7.3 \uad6c\ub9e4\uc790\uc758 \uad50\uc12d\ub825<\/li>\n<li class=\"toc-level-3\">4.7.4 \uacf5\uae09\uc790\uc758 \uad50\uc12d\ub825<\/li>\n<li class=\"toc-level-3\">4.7.5 \uacbd\uc7c1 \uac15\ub3c4<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-4\">5. \uc2dc\uc7a5 \uaddc\ubaa8 \ubc0f \uc131\uc7a5 \uc608\uce21<\/p>\n<ul>\n<li class=\"toc-level-2\">5.1 \ud504\ub85c\ud1a0\ucf5c \uc720\ud615\ubcc4\n<ul>\n<li class=\"toc-level-3\">5.1.1 \ud0c8\uc911\uc559\ud654 \uac70\ub798\uc18c (DEX)<\/li>\n<li class=\"toc-level-3\">5.1.2 \ub300\ucd9c \ubc0f \ucc28\uc785 \ud504\ub85c\ud1a0\ucf5c<\/li>\n<li class=\"toc-level-3\">5.1.3 \uc2a4\ud14c\uc774\ube14\ucf54\uc778 \ubc1c\ud589 \ud50c\ub7ab\ud3fc<\/li>\n<li class=\"toc-level-3\">5.1.4 \ud1a0\ud070\ud654\ub41c RWA \ud50c\ub7ab\ud3fc<\/li>\n<li class=\"toc-level-3\">5.1.5 \uae30\ud0c0 (\ud30c\uc0dd\uc0c1\ud488, \uc218\uc775\ub960 \uc560\uadf8\ub9ac\uac8c\uc774\ud130, \uc720\ub3d9\uc131 \uc2a4\ud14c\uc774\ud0b9 \ub4f1)<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">5.2 \ucd5c\uc885 \uc0ac\uc6a9 \uc560\ud50c\ub9ac\ucf00\uc774\uc158\ubcc4\n<ul>\n<li class=\"toc-level-3\">5.2.1 \uacb0\uc81c, \uc1a1\uae08 \ubc0f \uad6d\uacbd \uac04 \uc7ac\ubb34<\/li>\n<li class=\"toc-level-3\">5.2.2 \uac70\ub798 \ubc0f \ud22c\uc790<\/li>\n<li class=\"toc-level-3\">5.2.3 \uc800\ucd95 \ubc0f \uc218\uc775 \ub18d\uc0ac<\/li>\n<li class=\"toc-level-3\">5.2.4 \uae30\ud0c0 (\ubcf4\ud5d8, \uc778\ud504\ub77c, \uac8c\uc784\ud30c\uc774)<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">5.3 \ucd5c\uc885 \uc0ac\uc6a9\uc790\ubcc4\n<ul>\n<li class=\"toc-level-3\">5.3.1 \uac1c\uc778 \uc0ac\uc6a9\uc790<\/li>\n<li class=\"toc-level-3\">5.3.2 \uc911\uc18c\uae30\uc5c5 (SME)<\/li>\n<li class=\"toc-level-3\">5.3.3 \ub300\uae30\uc5c5<\/li>\n<li class=\"toc-level-3\">5.3.4 \uae30\uad00 \ud22c\uc790\uc790 \ubc0f \uc790\uc0b0 \uad00\ub9ac\uc790<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">5.4 \uc9c0\uc5ed\ubcc4\n<ul>\n<li class=\"toc-level-3\">5.4.1 \ubd81\ubbf8\n<ul>\n<li class=\"toc-level-4\">5.4.1.1 \uce90\ub098\ub2e4<\/li>\n<li class=\"toc-level-4\">5.4.1.2 \ubbf8\uad6d<\/li>\n<li class=\"toc-level-4\">5.4.1.3 \uba55\uc2dc\ucf54<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-3\">5.4.2 \ub0a8\ubbf8\n<ul>\n<li class=\"toc-level-4\">5.4.2.1 \ube0c\ub77c\uc9c8<\/li>\n<li class=\"toc-level-4\">5.4.2.2 \ud398\ub8e8<\/li>\n<li class=\"toc-level-4\">5.4.2.3 \uce60\ub808<\/li>\n<li class=\"toc-level-4\">5.4.2.4 \uc544\ub974\ud5e8\ud2f0\ub098<\/li>\n<li class=\"toc-level-4\">5.4.2.5 \ub0a8\ubbf8 \uae30\ud0c0 \uc9c0\uc5ed<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-3\">5.4.3 \uc720\ub7fd\n<ul>\n<li class=\"toc-level-4\">5.4.3.1 \uc601\uad6d<\/li>\n<li class=\"toc-level-4\">5.4.3.2 \ub3c5\uc77c<\/li>\n<li class=\"toc-level-4\">5.4.3.3 \ud504\ub791\uc2a4<\/li>\n<li class=\"toc-level-4\">5.4.3.4 \uc2a4\ud398\uc778<\/li>\n<li class=\"toc-level-4\">5.4.3.5 \uc774\ud0c8\ub9ac\uc544<\/li>\n<li class=\"toc-level-4\">5.4.3.6 \ubca0\ub124\ub8e9\uc2a4 (\ubca8\uae30\uc5d0, \ub124\ub35c\ub780\ub4dc, \ub8e9\uc148\ubd80\ub974\ud06c)<\/li>\n<li class=\"toc-level-4\">5.4.3.7 \ubd81\uc720\ub7fd (\ub374\ub9c8\ud06c, \ud540\ub780\ub4dc, \uc544\uc774\uc2ac\ub780\ub4dc, \ub178\ub974\uc6e8\uc774, \uc2a4\uc6e8\ub374)<\/li>\n<li class=\"toc-level-4\">5.4.3.8 \uc720\ub7fd \uae30\ud0c0 \uc9c0\uc5ed<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-3\">5.4.4 \uc544\uc2dc\uc544 \ud0dc\ud3c9\uc591\n<ul>\n<li class=\"toc-level-4\">5.4.4.1 \uc778\ub3c4<\/li>\n<li class=\"toc-level-4\">5.4.4.2 \uc911\uad6d<\/li>\n<li class=\"toc-level-4\">5.4.4.3 \uc77c\ubcf8<\/li>\n<li class=\"toc-level-4\">5.4.4.4 \ud638\uc8fc<\/li>\n<li class=\"toc-level-4\">5.4.4.5 \ub300\ud55c\ubbfc\uad6d<\/li>\n<li class=\"toc-level-4\">5.4.4.6 \ub3d9\ub0a8\uc544\uc2dc\uc544 (\uc2f1\uac00\ud3ec\ub974, \ub9d0\ub808\uc774\uc2dc\uc544, \ud0dc\uad6d, \uc778\ub3c4\ub124\uc2dc\uc544, \ubca0\ud2b8\ub0a8, \ud544\ub9ac\ud540)<\/li>\n<li class=\"toc-level-4\">5.4.4.7 \uc544\uc2dc\uc544 \ud0dc\ud3c9\uc591 \uae30\ud0c0 \uc9c0\uc5ed<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-3\">5.4.5 \uc911\ub3d9 \ubc0f \uc544\ud504\ub9ac\uce74\n<ul>\n<li class=\"toc-level-4\">5.4.5.1 \uc544\ub78d\uc5d0\ubbf8\ub9ac\ud2b8<\/li>\n<li class=\"toc-level-4\">5.4.5.2 \uc0ac\uc6b0\ub514\uc544\ub77c\ube44\uc544<\/li>\n<li class=\"toc-level-4\">5.4.5.3 \ub0a8\uc544\ud504\ub9ac\uce74 \uacf5\ud654\uad6d<\/li>\n<li class=\"toc-level-4\">5.4.5.4 \ub098\uc774\uc9c0\ub9ac\uc544<\/li>\n<li class=\"toc-level-4\">5.4.5.5 \uc911\ub3d9 \ubc0f \uc544\ud504\ub9ac\uce74 \uae30\ud0c0 \uc9c0\uc5ed<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-5\">6. \uacbd\uc7c1 \ud658\uacbd<\/p>\n<ul>\n<li class=\"toc-level-2\">6.1 \uc2dc\uc7a5 \uc9d1\uc911\ub3c4<\/li>\n<li class=\"toc-level-2\">6.2 \uc804\ub7b5\uc801 \uc6c0\uc9c1\uc784<\/li>\n<li class=\"toc-level-2\">6.3 \uc2dc\uc7a5 \uc810\uc720\uc728 \ubd84\uc11d<\/li>\n<li class=\"toc-level-2\">6.4 \uae30\uc5c5 \ud504\ub85c\ud544 (\uae00\ub85c\ubc8c \uac1c\uc694, \uc2dc\uc7a5 \uac1c\uc694, \ud575\uc2ec \ubd80\ubb38, \uc7ac\ubb34 \uc815\ubcf4(\uc0ac\uc6a9 \uac00\ub2a5\ud55c \uacbd\uc6b0), \uc804\ub7b5 \uc815\ubcf4, \uc8fc\uc694 \uae30\uc5c5\uc758 \uc2dc\uc7a5 \uc21c\uc704\/\uc810\uc720\uc728, \uc81c\ud488 &amp; \uc11c\ube44\uc2a4, \ucd5c\uadfc \uac1c\ubc1c \ud3ec\ud568)\n<ul>\n<li class=\"toc-level-3\">6.4.1 MakerDAO<\/li>\n<li class=\"toc-level-3\">6.4.2 Uniswap Labs<\/li>\n<li class=\"toc-level-3\">6.4.3 Curve Finance<\/li>\n<li class=\"toc-level-3\">6.4.4 Lido Finance<\/li>\n<li class=\"toc-level-3\">6.4.5 Compound Labs<\/li>\n<li class=\"toc-level-3\">6.4.6 Synthetix<\/li>\n<li class=\"toc-level-3\">6.4.7 ConsenSys<\/li>\n<li class=\"toc-level-3\">6.4.8 Circle Internet Financial<\/li>\n<li class=\"toc-level-3\">6.4.9 Tether Operations<\/li>\n<li class=\"toc-level-3\">6.4.10 Binance Labs<\/li>\n<li class=\"toc-level-3\">6.4.11 Solana Foundation<\/li>\n<li class=\"toc-level-3\">6.4.12 Tron DAO<\/li>\n<li class=\"toc-level-3\">6.4.13 StarkWare<\/li>\n<li class=\"toc-level-3\">6.4.14 Polygon Labs<\/li>\n<li class=\"toc-level-3\">6.4.15 Coinbase (Base)<\/li>\n<li class=\"toc-level-3\">6.4.16 Centrifuge<\/li>\n<li class=\"toc-level-3\">6.4.17 Maple Finance<\/li>\n<li class=\"toc-level-3\">6.4.18 Pendle Finance<\/li>\n<li class=\"toc-level-3\">6.4.19 Morpho Labs<\/li>\n<li class=\"toc-level-3\">6.4.20 Hyperliquid<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-6\">7. \uc2dc\uc7a5 \uae30\ud68c &amp; \ubbf8\ub798 \uc804\ub9dd<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\ud0c8\uc911\uc559\ud654 \uae08\uc735(DeFi) \uc2dc\uc7a5 \uaddc\ubaa8 \ubc0f \uc810\uc720\uc728 \ubd84\uc11d: \uc131\uc7a5 \ub3d9\ud5a5 \ubc0f \uc804\ub9dd (2026-2031)<\/p>\n<p># \uc2dc\uc7a5 \uac1c\uc694 \ubc0f \uc8fc\uc694 \uc218\uce58<\/p>\n<p>\ud0c8\uc911\uc559\ud654 \uae08\uc735(DeFi) \uc2dc\uc7a5\uc740 2026\ub144 2,385\uc5b5 4\ucc9c\ub9cc \ub2ec\ub7ec\uc5d0\uc11c 2031\ub144 7,705\uc5b5 6\ucc9c\ub9cc \ub2ec\ub7ec\ub85c \uc5f0\ud3c9\uade0 26.43%\uc758 \ub192\uc740 \uc131\uc7a5\ub960\uc744 \uae30\ub85d\ud558\uba70 \uae09\uaca9\ud788 \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc804\ub9dd\ub429\ub2c8\ub2e4. \uc774\ub7ec\ud55c \uc131\uc7a5\uc740 \uc8fc\ub85c \ud604\ubb3c \ube44\ud2b8\ucf54\uc778 ETF\uc640 \uc720\ub7fd\uc5f0\ud569\uc758 MiCA(Markets in Crypto-Assets) \ud504\ub808\uc784\uc6cc\ud06c\uc640 \uac19\uc740 \uc815\ucc45 \uc9c0\uc6d0 \uc811\uadfc\uc810, \uc8fc\uc694 \ub124\ud2b8\uc6cc\ud06c\uc758 \uc2a4\ud14c\uc774\ube14\ucf54\uc778 \uacb0\uc81c \ud30c\uc77c\ub7ff, \uadf8\ub9ac\uace0 \ub514\uc9c0\ud138 \uc790\uc0b0\uc744 \uc704\ud55c \uc740\ud589 \uc5f0\uacc4 \uc2e0\ud0c1 \uad6c\uc870\uc5d0 \uc758\ud574 \uc8fc\ub3c4\ub418\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uc774\ub294 \ud22c\uae30\uc801 \uc720\uc778\ubcf4\ub2e4\ub294 \uaddc\uc81c \uba85\ud655\uc131, \uaddc\uc81c \uc900\uc218 \ud1a0\ud070\ud654, \uadf8\ub9ac\uace0 \uc8fc\ub958 \uae30\uad00\uc774 \uae30\uc874 \ud1b5\uc81c \ud504\ub808\uc784\uc6cc\ud06c \ub0b4\uc5d0\uc11c \ucc44\ud0dd\ud560 \uc218 \uc788\ub294 \uacb0\uc81c \ub4f1\uae09 \ub808\uc77c\uc5d0 \uae30\ubc18\ud55c \uc131\uc7a5 \uc8fc\uae30\ub97c \uc2dc\uc0ac\ud569\ub2c8\ub2e4.<\/p>\n<p>\uc2dc\uc7a5\uc740 \ud504\ub85c\ud1a0\ucf5c \uc720\ud615(\ud0c8\uc911\uc559\ud654 \uac70\ub798\uc18c(DEX), \ub300\ucd9c \ubc0f \ucc28\uc785 \ud504\ub85c\ud1a0\ucf5c \ub4f1), \ucd5c\uc885 \uc0ac\uc6a9 \uc560\ud50c\ub9ac\ucf00\uc774\uc158(\uacb0\uc81c, \uc1a1\uae08 \ubc0f \uad6d\uacbd \uac04 \uc790\uae08 \uad00\ub9ac \ub4f1), \ucd5c\uc885 \uc0ac\uc6a9\uc790(\uac1c\uc778 \uc0ac\uc6a9\uc790, \uc911\uc18c\uae30\uc5c5(SME) \ub4f1) \ubc0f \uc9c0\uc5ed(\ubd81\ubbf8, \ub0a8\ubbf8 \ub4f1)\uc73c\ub85c \uc138\ubd84\ud654\ub429\ub2c8\ub2e4.<\/p>\n<p>\uc8fc\uc694 \uc2dc\uc7a5 \uc218\uce58 (2026-2031):<br \/>\n*   \uc5f0\uad6c \uae30\uac04: 2020 &#8211; 2031\ub144<br \/>\n*   2026\ub144 \uc2dc\uc7a5 \uaddc\ubaa8: 2,385\uc5b5 4\ucc9c\ub9cc \ub2ec\ub7ec<br \/>\n*   2031\ub144 \uc2dc\uc7a5 \uaddc\ubaa8: 7,705\uc5b5 6\ucc9c\ub9cc \ub2ec\ub7ec<br \/>\n*   \uc131\uc7a5\ub960 (2026-2031): \uc5f0\ud3c9\uade0 26.43%<br \/>\n*   \uac00\uc7a5 \ube60\ub974\uac8c \uc131\uc7a5\ud558\ub294 \uc2dc\uc7a5: \uc544\uc2dc\uc544 \ud0dc\ud3c9\uc591<br \/>\n*   \uac00\uc7a5 \ud070 \uc2dc\uc7a5: \ubd81\ubbf8<br \/>\n*   \uc2dc\uc7a5 \uc9d1\uc911\ub3c4: \uc911\uac04<\/p>\n<p># \uc8fc\uc694 \ubcf4\uace0\uc11c \uc694\uc57d<\/p>\n<p>*   \ud504\ub85c\ud1a0\ucf5c \uc720\ud615\ubcc4: 2025\ub144 \ub300\ucd9c \ubc0f \ucc28\uc785 \ud504\ub85c\ud1a0\ucf5c\uc774 27.33%\uc758 \uc2dc\uc7a5 \uc810\uc720\uc728\ub85c \uc120\ub450\ub97c \ucc28\uc9c0\ud588\uc73c\uba70, \ud1a0\ud070\ud654\ub41c \uc2e4\ubb3c\uc790\uc0b0(RWA) \ud50c\ub7ab\ud3fc\uc740 2031\ub144\uae4c\uc9c0 \uc5f0\ud3c9\uade0 39.72%\ub85c \uac00\uc7a5 \ube60\ub974\uac8c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub429\ub2c8\ub2e4.<br \/>\n*   \ucd5c\uc885 \uc0ac\uc6a9 \uc560\ud50c\ub9ac\ucf00\uc774\uc158\ubcc4: 2025\ub144 \uc800\ucd95 \ubc0f \uc218\uc775 \ub18d\uc0ac\uac00 36.52%\ub85c \uac00\uc7a5 \ud070 \ube44\uc911\uc744 \ucc28\uc9c0\ud588\uc73c\uba70, \uacb0\uc81c, \uc1a1\uae08 \ubc0f \uad6d\uacbd \uac04 \uc790\uae08 \uad00\ub9ac\ub294 2031\ub144\uae4c\uc9c0 \uc5f0\ud3c9\uade0 34.67%\ub85c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc804\ub9dd\ub429\ub2c8\ub2e4.<br \/>\n*   \ucd5c\uc885 \uc0ac\uc6a9\uc790\ubcc4: 2025\ub144 \uac1c\uc778 \uc0ac\uc6a9\uc790\uac00 62.12%\uc758 \uc2dc\uc7a5 \uc810\uc720\uc728\uc744 \uae30\ub85d\ud588\uc73c\uba70, \uae30\uad00 \ud22c\uc790\uc790 \ubc0f \uc790\uc0b0 \uad00\ub9ac\uc790\ub294 2031\ub144\uae4c\uc9c0 \uc5f0\ud3c9\uade0 32.55%\ub85c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub429\ub2c8\ub2e4.<br \/>\n*   \uc9c0\uc5ed\ubcc4: 2025\ub144 \ubd81\ubbf8\uac00 42.78%\uc758 \uc2dc\uc7a5 \uc810\uc720\uc728\uc744 \uc720\uc9c0\ud588\uc73c\uba70, \uc544\uc2dc\uc544 \ud0dc\ud3c9\uc591 \uc9c0\uc5ed\uc740 2031\ub144\uae4c\uc9c0 \uc5f0\ud3c9\uade0 31.89%\ub85c \uac00\uc7a5 \ube60\ub974\uac8c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc608\uce21\ub429\ub2c8\ub2e4.<\/p>\n<p># \uc2dc\uc7a5 \ub3d9\ud5a5 \ubc0f \ud1b5\ucc30 (\uc131\uc7a5 \ub3d9\ub825)<\/p>\n<p>DeFi \uc2dc\uc7a5\uc758 \uc131\uc7a5\uc744 \uacac\uc778\ud558\ub294 \uc8fc\uc694 \ub3d9\ub825\uc740 \ub2e4\uc74c\uacfc \uac19\uc2b5\ub2c8\ub2e4.<\/p>\n<p>1.  DeFi \ud575\uc2ec \uc218\uc9c1 \ubd84\uc57c\uc758 \ucd1d \uc608\uce58 \uc790\uc0b0(TVL) \uc99d\uac00: \uc120\ub3c4\uc801\uc778 \uccb4\uc778 \ubc0f \uac70\ub798\uc18c\uc758 \uc720\ub3d9\uc131 \uc2ec\ud654\ub294 DeFi \uc2dc\uc7a5\uc774 \uc2e0\ub8b0\ud560 \uc218 \uc788\ub294 \uc2e4\ud589\uacfc \uac10\uc0ac\ub41c \ucf54\ub4dc \uacbd\ub85c\ub97c \ucc3e\ub294 \uc0ac\uc6a9\uc790\ub4e4\uc744 \uc720\uce58\ud568\uc5d0 \ub530\ub77c \ubcf4\ub2e4 \ud6a8\uc728\uc801\uc778 \uac00\uaca9 \ucc45\uc815, \ub77c\uc6b0\ud305 \ubc0f \ub2f4\ubcf4 \uad00\ub9ac\ub97c \uc9c0\uc6d0\ud569\ub2c8\ub2e4. \ub192\uace0 \uc9c0\uc18d\uc801\uc778 \uc2a4\ud14c\uc774\ube14\ucf54\uc778 \uc804\uc1a1\ub7c9\uacfc \ub808\uc774\uc5b4-2 \ud65c\ub3d9 \uc99d\uac00\ub294 \uc77c\uc2dc\uc801\uc778 \ud22c\uae30\uc5d0\uc11c \ud504\ub85c\ud1a0\ucf5c \uc218\uc775\uacfc \uc7a5\uae30 \uc0ac\uc6a9\uc790 \uc720\uc9c0\ub97c \ucd09\uc9c4\ud558\ub294 \uc9c0\uc18d\uc801\uc778 \uacb0\uc81c \uc720\ud2f8\ub9ac\ud2f0\ub85c\uc758 \uad6c\uc870\uc801 \uc804\ud658\uc744 \ubcf4\uc5ec\uc90d\ub2c8\ub2e4.<br \/>\n2.  \ubbf8\uad6d(ETF) \ubc0f EU(MiCA)\uc758 \uaddc\uc81c \uba85\ud655\uc131: \ud604\ubb3c \ube44\ud2b8\ucf54\uc778 \uc0c1\uc7a5\uc9c0\uc218\ud380\ub4dc(ETF) \uc2b9\uc778\uc740 \uc804\ud1b5\uc801\uc778 \uc790\uc0b0 \ubc30\ubd84\uc790\ub4e4\uc774 \uae30\uc874 \uc815\ucc45 \ud558\uc5d0 \uc0ac\uc6a9\ud560 \uc218 \uc788\ub294 \uaddc\uc81c\ub41c \ub7a9\ud37c\ub97c \uc81c\uacf5\ud558\uc5ec, DeFi \uc720\ub3d9\uc131 \uc7a5\uc18c\uc640 \uc0c1\ud638\uc791\uc6a9\ud558\ub294 \ub178\ucd9c\uc5d0 \ub300\ud55c \uc6b4\uc601 \ub9c8\ucc30\uc744 \uc904\uc600\uc2b5\ub2c8\ub2e4. MiCA\ub294 \uc554\ud638\ud654\ud3d0 \uc790\uc0b0 \uc11c\ube44\uc2a4 \uc81c\uacf5\uc790\ub97c \uc704\ud55c \uc778\uac00 \uacbd\ub85c\ub97c \uba85\ud655\ud788 \ud558\uace0 \uc790\uc0b0 \ucc38\uc870 \ud1a0\ud070 \ubc0f \uc804\uc790\ud654\ud3d0 \ud1a0\ud070\uc5d0 \ub300\ud55c \uc900\ube44\uae08 \ubc0f \uacf5\uac1c \uc694\uac74\uc744 \uc124\uc815\ud558\uc5ec, \ube14\ub85d \uc804\ubc18\uc5d0 \uac78\uccd0 \uaddc\uc81c \uc900\uc218 \ubc1c\ud589\uc790 \ubc0f \uc911\uac1c\uc790\ub97c \uc704\ud55c \uc774\ub3d9\uc131\uc744 \uac15\ud654\ud558\uace0 \uaddc\uc81c \ubd88\ud655\uc2e4\uc131\uc744 \uc904\uc600\uc2b5\ub2c8\ub2e4.<br \/>\n3.  \ub808\uc774\uc5b4-2 \uc218\uc218\ub8cc \uc555\ucd95\uc73c\ub85c \uc0ac\uc6a9 \uc0ac\ub840 \ud655\uc7a5: \ub864\uc5c5\uc73c\ub85c\uc758 \ud65c\ub3d9 \uc774\uc804\uc740 \uac70\ub798 \ube44\uc6a9\uc744 \uc904\uc774\uace0 \ucc98\ub9ac\ub7c9\uc744 \uc99d\uac00\uc2dc\ucf1c, DeFi \uc2dc\uc7a5\uc5d0\uc11c \uc18c\ube44\uc790 \ubc0f \uae30\uad00 \uc0ac\uc6a9\uc790\ub97c \uc704\ud55c \ube48\ubc88\ud558\uace0 \uc18c\uc561\uc758 \uc0c1\ud638\uc791\uc6a9\uc744 \uac00\ub2a5\ud558\uac8c \ud588\uc2b5\ub2c8\ub2e4. \ub0ae\uc740 \uc218\uc218\ub8cc\uc640 \ube60\ub978 \ud655\uc778\uc740 \ub9c8\uc774\ud06c\ub85c \uc7ac\ubb34 \uc2a4\uc715, \uc5d0\uc774\uc804\ud2b8 \uae30\ubc18 \ub9ac\ubc38\ub7f0\uc2f1, \uace0\ube48\ub3c4 \ub77c\uc6b0\ud305\uacfc \uac19\uc774 \ub192\uc740 \uac00\uc2a4 \uc694\uae08 \uccb4\uc81c\uc5d0\uc11c\ub294 \ube44\uacbd\uc81c\uc801\uc774\uc5c8\ub358 \uc0ac\uc6a9 \uc0ac\ub840\ub97c \ud655\uc7a5\ud569\ub2c8\ub2e4.<br \/>\n4.  \ud1a0\ud070\ud654\ub41c \uc2e4\ubb3c\uc790\uc0b0(RWA) \ud50c\ub7ab\ud3fc\uc758 \uc740\ud589 \ub4f1\uae09 \uacac\uc778\ub825 \ud655\ubcf4: \ud1a0\ud070\ud654\ub41c \ud380\ub4dc \ubc0f \uace0\uc815 \uc218\uc785 \uc0c1\ud488\uc740 \uc774\uc81c \uba85\ud655\ud55c \uc0c1\ud658 \uacbd\ub85c, \uac10\uc0ac\ub41c \uc900\ube44\uae08, \ud22c\uba85\ud55c \uc628\uccb4\uc778 \ubcf4\uace0\ub97c \ud1b5\ud574 \uaddc\uc81c\ub41c \uad6c\uc870 \ud558\uc5d0 \uc6b4\uc601\ub418\uba70, \uc774\ub294 \uae30\uc5c5 \ub4f1\uae09\uc758 \ubcf4\uad00 \ubc0f \uacf5\uac1c \ud45c\uc900\uacfc \uc77c\uce58\ud569\ub2c8\ub2e4. \ub300\ud615 \uc790\uc0b0 \uad00\ub9ac\uc790 \ubc0f \uc740\ud589\ub4e4\uc740 \uae30\uc874 \ud22c\uc790\uc790 \ubcf4\ud638 \ubc94\uc704 \ub0b4\uc5d0\uc11c \uc791\ub3d9\ud558\uba74\uc11c \ub354 \ube60\ub978 \uacb0\uc81c \ubc0f \uc790\ub3d9\ud654\ub41c \uad00\ub9ac\ub97c \uc81c\uacf5\ud558\ub294 \ud1a0\ud070\ud654\ub41c \uc0c1\ud488\uc744 \ucd9c\uc2dc\ud558\uc5ec, DeFi \uc2dc\uc7a5\uc758 \uad11\ubc94\uc704\ud55c \ucc44\ud0dd\uc744 \uc9c1\uc811\uc801\uc73c\ub85c \uc9c0\uc6d0\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p># \uc81c\uc57d \uc694\uc778<\/p>\n<p>DeFi \uc2dc\uc7a5\uc758 \uc131\uc7a5\uc744 \uc800\ud574\ud558\ub294 \uc8fc\uc694 \uc81c\uc57d \uc694\uc778\uc740 \ub2e4\uc74c\uacfc \uac19\uc2b5\ub2c8\ub2e4.<\/p>\n<p>1.  \uc2a4\ub9c8\ud2b8 \uacc4\uc57d \uc775\uc2a4\ud50c\ub85c\uc787 \ubc0f \uc624\ub77c\ud074 \uc870\uc791 \uc704\ud5d8: \ubcf4\uc548 \uc0ac\uace0 \ubc0f \ub17c\ub9ac\uc801 \uacb0\ud568\uc740 \uc790\uae08\uc744 \uc720\ucd9c\ud558\uac70\ub098 \uac00\uaca9 \ubc1c\uacac\uc744 \ubc29\ud574\ud558\uc5ec, DeFi \uc2dc\uc7a5\uc758 \uc2e0\ub8b0\ub97c \uc800\ud574\ud558\uace0 \uc2e0\uaddc \ubc30\ud3ec\uc758 \uc790\ubcf8 \ube44\uc6a9\uc744 \uc99d\uac00\uc2dc\ud0b5\ub2c8\ub2e4. \uad6c\uc131 \uac00\ub2a5\uc131\uc740 \ub2e8\uc77c \uacb0\ud568 \uacc4\uc57d\uc774\ub098 \uac00\uaca9 \ud53c\ub4dc\uac00 \ub300\ucd9c, \uac70\ub798 \ubc0f \ub2f4\ubcf4 \uad00\ub9ac \uc804\ubc18\uc5d0 \uac78\uccd0 \ube60\ub974\uac8c \uc804\ud30c\ub420 \uc218 \uc788\uc73c\ubbc0\ub85c \uc774\uc810\uacfc \uc704\ud5d8\uc744 \ubaa8\ub450 \uc99d\ud3ed\uc2dc\ud0b5\ub2c8\ub2e4.<br \/>\n2.  AML\/KYC \uaddc\uc81c \uc9d1\ud589: \uaddc\uc81c \ub2f9\uad6d\uc740 \uaddc\uc81c \ubbf8\uc900\uc218 dApp\uc5d0 \ub300\ud55c \uc790\uae08\uc138\ud0c1\ubc29\uc9c0(AML) \ubc0f \uace0\uac1d\ud655\uc778(KYC) \uc9d1\ud589 \uc870\uce58\ub97c \uac15\ud654\ud558\uace0 \uc788\uc73c\uba70, \uc774\ub294 \uaddc\uc81c \uc900\uc218 \ube44\uc6a9\uc744 \uc99d\uac00\uc2dc\ud0a4\uace0 \uc2dc\uc7a5 \ucc38\uc5ec\uc790\ub4e4\uc5d0\uac8c \ubd88\ud655\uc2e4\uc131\uc744 \uc57c\uae30\ud569\ub2c8\ub2e4.<br \/>\n3.  \uc18c\uc218 \ud480\uc5d0 \ub300\ud55c \uc720\ub3d9\uc131 \uc9d1\uc911: \uc18c\uc218\uc758 \ud480\uc5d0 \uc720\ub3d9\uc131\uc774 \uc9d1\uc911\ub418\ub294 \ud604\uc0c1\uc740 \uc2dc\uc2a4\ud15c\uc801 \uc704\ud5d8\uc744 \ub192\uc77c \uc218 \uc788\uc73c\uba70, \uc774\ub294 \uc2dc\uc7a5\uc758 \uc548\uc815\uc131\uc5d0 \ub300\ud55c \uc6b0\ub824\ub97c \uc81c\uae30\ud569\ub2c8\ub2e4.<br \/>\n4.  \ub808\ubc84\ub9ac\uc9c0 \ubc0f \ud30c\uc0dd\uc0c1\ud488\uc5d0 \ub300\ud55c \uaddc\uc81c \uc870\uce58: \ub808\ubc84\ub9ac\uc9c0 \ubc0f \ud30c\uc0dd\uc0c1\ud488\uc5d0 \ub300\ud55c \uaddc\uc81c \ub2f9\uad6d\uc758 \ud45c\uc801 \uc870\uce58\ub294 \uc2dc\uc7a5\uc5d0 \ubd88\ud655\uc2e4\uc131\uc744 \uc57c\uae30\ud558\uace0, \uaddc\uc81c\ub41c \ucc44\ub110\uc5d0\uc11c \ub354 \uae4a\uc740 \uc720\ub3d9\uc131 \ud615\uc131\uc744 \uc9c0\uc5f0\uc2dc\ud0ac \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p># \uc138\uadf8\uba3c\ud2b8 \ubd84\uc11d<\/p>\n<p>1. \ud504\ub85c\ud1a0\ucf5c \uc720\ud615\ubcc4:<br \/>\n\ub300\ucd9c \ubc0f \ucc28\uc785 \ud504\ub85c\ud1a0\ucf5c\uc740 2025\ub144 27.33%\uc758 \uc810\uc720\uc728\ub85c \uc5ec\uc804\ud788 \uc911\uc694\ud55c \uc704\uce58\ub97c \ucc28\uc9c0\ud558\uace0 \uc788\uc9c0\ub9cc, \ud1a0\ud070\ud654\ub41c \uc2e4\ubb3c\uc790\uc0b0(RWA) \ud50c\ub7ab\ud3fc\uc740 2031\ub144\uae4c\uc9c0 \uc5f0\ud3c9\uade0 39.72%\ub85c \uac00\uc7a5 \ube60\ub974\uac8c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub429\ub2c8\ub2e4. RWA \ud50c\ub7ab\ud3fc\uc740 \uaddc\uc81c \uc900\uc218 \ubc1c\ud589, \ubcf4\uad00 \ubc0f \ubcf4\uace0\ub97c \ud1b5\ud574 \uc790\uc0b0 \uad00\ub9ac\uc790 \ubc0f \uc7ac\ubb34 \ub2f4\ub2f9\uc790\uac00 \uac70\ubc84\ub10c\uc2a4 \ubc0f \ud1b5\uc81c\ub97c \uc190\uc0c1\uc2dc\ud0a4\uc9c0 \uc54a\uace0 \uc628\uccb4\uc778 \uc720\ub3d9\uc131\uc744 \ud65c\uc6a9\ud560 \uc218 \uc788\ub294 \uc628\ub7a8\ud504\ub97c \uc81c\uacf5\ud569\ub2c8\ub2e4. RWA \ud50c\ub7ab\ud3fc\uc740 \uaddc\uc81c\ub41c \uc790\uc0b0\uacfc \ud0c8\uc911\uc559\ud654 \uacb0\uc81c \uac04\uc758 \uc5f0\uacb0 \uace0\ub9ac \uc5ed\ud560\uc744 \ud558\uba70, \uc815\ucc45 \uc694\uad6c \uc0ac\ud56d\uc744 \ucf54\ub4dc \ubc0f \ud504\ub85c\uc138\uc2a4 \uc124\uacc4\uc5d0 \ud1b5\ud569\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uac70\ub798\uc18c\ub294 \uac00\uaca9 \ubc1c\uacac \ubc0f \uac70\ub798\ub7c9 \uc9d1\uc911\uc744 \uc8fc\ub3c4\ud558\uba70, \uc218\uc218\ub8cc \uae30\ubc18 \uac00\uce58 \ucd95\uc801 \ubaa8\ub378\ub85c \uc9c4\ud654\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>2. \ucd5c\uc885 \uc0ac\uc6a9 \uc560\ud50c\ub9ac\ucf00\uc774\uc158\ubcc4:<br \/>\n\uc800\ucd95 \ubc0f \uc218\uc775 \ub18d\uc0ac\ub294 2025\ub144 36.52%\ub85c \uac00\uc7a5 \ud070 \ube44\uc911\uc744 \ucc28\uc9c0\ud588\uc9c0\ub9cc, \uacb0\uc81c, \uc1a1\uae08 \ubc0f \uad6d\uacbd \uac04 \uc790\uae08 \uad00\ub9ac \ubd80\ubb38\uc740 2031\ub144\uae4c\uc9c0 \uc5f0\ud3c9\uade0 34.67%\ub85c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc804\ub9dd\ub429\ub2c8\ub2e4. \uc774\ub294 \uc740\ud589 \ud30c\ud2b8\ub108 \ubc0f \uce74\ub4dc \ub124\ud2b8\uc6cc\ud06c\uc640 \uc9c1\uc811 \ud1b5\ud569\ub418\ub294 \uc2a4\ud14c\uc774\ube14\ucf54\uc778 \uacb0\uc81c \ud30c\uc77c\ub7ff\uc5d0 \uc758\ud574 \uc9c0\uc6d0\ub429\ub2c8\ub2e4. \uc774\ub7ec\ud55c \ud30c\uc77c\ub7ff\uc774 \uc0c1\uc6a9\ud654\ub428\uc5d0 \ub530\ub77c \uae30\uc5c5\ub4e4\uc740 \uacf5\uae09\uc5c5\uccb4 \uacb0\uc81c, \uad6d\uacbd \uac04 \uc790\uae08 \uad00\ub9ac, \ub9c8\ucf13\ud50c\ub808\uc774\uc2a4 \uc9c0\uae09\uc744 \uc704\ud55c \ub3c4\uad6c\ub97c \ud655\ubcf4\ud558\uac8c \ub418\uba70, \uc774\ub294 \uc9c0\uac11 \ubc0f \uc740\ud589\uacfc \uae30\ubcf8\uc801\uc73c\ub85c \uc0c1\ud638 \uc6b4\uc6a9\ub429\ub2c8\ub2e4. \uac70\ub798 \ubc0f \ud22c\uc790\ub294 DeFi \uc2dc\uc7a5\uc5d0\uc11c \uc790\uc0b0 \ubc0f \uccb4\uc778 \uc804\ubc18\uc5d0 \uac78\uccd0 \uac00\uaca9 \ubc1c\uacac, \ud5e4\uc9d5 \ubc0f \ub77c\uc6b0\ud305\uc758 \ud544\uc694\uc131 \ub54c\ubb38\uc5d0 \ud575\uc2ec \uc560\ud50c\ub9ac\ucf00\uc774\uc158\uc73c\ub85c \ub0a8\uc544 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>3. \ucd5c\uc885 \uc0ac\uc6a9\uc790\ubcc4:<br \/>\n\uac1c\uc778 \uc0ac\uc6a9\uc790\ub294 2025\ub144 62.12%\uc758 \uc810\uc720\uc728\ub85c \uc5ec\uc804\ud788 \uc9c0\ubc30\uc801\uc774\uc9c0\ub9cc, \uae30\uad00 \ud22c\uc790\uc790 \ubc0f \uc790\uc0b0 \uad00\ub9ac\uc790\ub294 2031\ub144\uae4c\uc9c0 \uc5f0\ud3c9\uade0 32.55%\ub85c \uac00\uc7a5 \ube60\ub974\uac8c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub429\ub2c8\ub2e4. \uc774\ub294 \uaddc\uc81c\ub41c \ub7a9\ud37c, \ubcf4\uad00 \uc11c\ube44\uc2a4 \ud655\uc7a5, \uc740\ud589 \uc5f0\uacc4 \uc2e0\ud0c1 \uad6c\uc870\uac00 DeFi \uc2dc\uc7a5 \ucc38\uc5ec\uc5d0 \ubbf8\uce58\ub294 \uc601\ud5a5\uc744 \ubc18\uc601\ud569\ub2c8\ub2e4. ETF \uc2b9\uc778\uc740 \ub9ce\uc740 \uae30\uad00\uc774 \uae30\uc874\uc758 \uc2e0\ud0c1 \ubc0f \ubcf4\uace0 \ud504\ub808\uc784\uc6cc\ud06c \ub0b4\uc5d0\uc11c \ucc44\ud0dd\ud560 \uc218 \uc788\ub294 \ud45c\uc900\ud654\ub41c \ub178\ucd9c \uacbd\ub85c\ub97c \uc81c\uacf5\ud588\uc2b5\ub2c8\ub2e4. \uc740\ud589 \ubc0f \uc2e0\ud0c1 \uae30\uad00\uc774 \ub514\uc9c0\ud138 \uc790\uc0b0 \uc11c\ube44\uc2a4\ub97c \ud655\uc7a5\ud568\uc5d0 \ub530\ub77c, \uc7ac\ubb34\ud300\uacfc \uc790\uc0b0 \uad00\ub9ac\uc790\ub294 \uac10\ub3c5 \uae30\ub300\uce58\uc5d0 \ubd80\ud569\ud558\ub294 \ubc29\uc2dd\uc73c\ub85c \ud1a0\ud070 \ub808\uc77c \ubc0f DeFi \uc720\ub3d9\uc131\uacfc \uc0c1\ud638\uc791\uc6a9\ud560 \uc218 \uc788\ub294 \uc815\ucc45 \uc900\uc218 \ubc29\ubc95\uc744 \uc5bb\uac8c \ub429\ub2c8\ub2e4.<\/p>\n<p># \uc9c0\uc5ed \ubd84\uc11d<\/p>\n<p>*   \ubd81\ubbf8: 2025\ub144 42.78%\uc758 \uc810\uc720\uc728\uc744 \ucc28\uc9c0\ud558\uba70 \uc120\ub450\ub97c \uc720\uc9c0\ud588\uc2b5\ub2c8\ub2e4. \uc774\ub294 \uaddc\uc81c\ub41c ETF \uc811\uadfc, \ubcf4\uad00 \uc11c\ube44\uc2a4 \ud655\uc7a5, \uadf8\ub9ac\uace0 \uc740\ud589 \ud30c\ud2b8\ub108\uc640 \ud1a0\ud070\ud654\ub41c \uacb0\uc81c\ub97c \uc5f0\uacb0\ud558\ub294 \ucd08\uae30 \uacb0\uc81c \ub124\ud2b8\uc6cc\ud06c \ud30c\uc77c\ub7ff\uc5d0 \uc758\ud574 \uc9c0\uc6d0\ub429\ub2c8\ub2e4. ETF \uc2b9\uc778\uc740 \uae30\uad00\uc774 \uae30\uc874 \uc815\ucc45 \ubc0f \uacf5\uac1c \uccb4\uc81c \ub0b4\uc5d0\uc11c \ud1b5\ud569\ud560 \uc218 \uc788\ub294 \uc775\uc219\ud55c \uc81c\ud488 \ud615\uc2dd\uc744 \uc81c\uacf5\ud558\uc5ec, \uaddc\uc81c\ub41c \ucc44\ub110\ub85c\uc758 \uc790\uae08 \ud750\ub984\uc744 \uac00\uc18d\ud654\ud588\uc2b5\ub2c8\ub2e4.<br \/>\n*   \uc720\ub7fd: MiCA\uc5d0 \ub530\ub77c \uc778\uac00, \uc900\ube44\uae08 \ubc0f \uacf5\uac1c \uc694\uac74\uc744 \uc131\ubb38\ud654\ud558\ub294 \uaddc\uce59 \uae30\ubc18 \uc811\uadfc \ubc29\uc2dd\uc744 \ubc18\uc601\ud558\uba70, \uc774\ub294 DeFi \uc2dc\uc7a5\uc5d0 \uc11c\ube44\uc2a4\ub97c \uc81c\uacf5\ud558\ub294 \ubc1c\ud589\uc790, \uc218\ud0c1\uc790 \ubc0f \uac70\ub798\uc18c\uc758 \uc774\ub3d9\uc131\uc744 \ud5a5\uc0c1\uc2dc\ud0b5\ub2c8\ub2e4. \uc804\uc790\ud654\ud3d0 \uc5f0\uacc4 \ubc0f \uc790\uae08 \uc774\uccb4 \uc758\ubb34\uc758 \uacb0\ud569\uc740 \uc554\ud638\ud654\ud3d0 \uc774\uccb4 \ud504\ub85c\uc138\uc2a4\uc5d0 \uc2e0\uc6d0 \ubc0f \ucd94\uc801\uc131\uc744 \ub3c4\uc785\ud558\uc5ec, \ud68c\uc6d0\uad6d \uc804\ubc18\uc5d0 \uac78\uccd0 \uc6b4\uc601 \ud45c\uc900\uc744 \ucda9\uc871\ud560 \uc218 \uc788\ub294 \uc81c\uacf5\uc5c5\uccb4\uc5d0 \uc720\ub9ac\ud558\uac8c \uc791\uc6a9\ud569\ub2c8\ub2e4.<br \/>\n*   \uc544\uc2dc\uc544 \ud0dc\ud3c9\uc591: 2031\ub144\uae4c\uc9c0 \uc5f0\ud3c9\uade0 31.89%\ub85c \uac00\uc7a5 \ube60\ub974\uac8c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc804\ub9dd\ub429\ub2c8\ub2e4. \uc774\ub294 \uaddc\uc81c \ud5c8\ube0c\uac00 \uc2a4\ud14c\uc774\ube14\ucf54\uc778 \uaddc\uc81c \ubc0f \ud1a0\ud070\ud654\ub41c \uc608\uae08 \ud30c\uc77c\ub7ff\uc744 \uad6c\ud604\ud558\uc5ec DeFi \uc2dc\uc7a5\uc5d0 \uaddc\uc81c \uc900\uc218 \ucc38\uc5ec\ub97c \uac00\ub2a5\ud558\uac8c \ud558\uae30 \ub54c\ubb38\uc785\ub2c8\ub2e4. \ube14\ub85d\uccb4\uc778 \uae30\ubc18 \ud380\ub4dc \ubc0f \uacb0\uc81c\ub97c \uc704\ud55c \ud504\ub808\uc784\uc6cc\ud06c\ub97c \ud3ec\ud568\ud55c \uc9c0\uc5ed \uc815\ucc45 \ubcc0\ud654\ub294 \uc740\ud589 \ub4f1\uae09 \uc778\ud504\ub77c\uc640 \uc0c1\ud638 \uc6b4\uc6a9\ub418\ub294 \uac10\ub3c5 \ucc44\ub110\ub85c \ud65c\ub3d9\uc744 \uc720\ub3c4\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p># \uacbd\uc7c1 \ud658\uacbd<\/p>\n<p>DeFi \uc2dc\uc7a5\uc758 \uacbd\uc7c1 \ud658\uacbd\uc740 \ub300\ucd9c, \uac70\ub798\uc18c \ubc0f \uc2a4\ud14c\uc774\ube14\ucf54\uc778 \ubd84\uc57c\uc5d0\uc11c \ub9ac\ub354\uc2ed\uc744 \ubcf4\uc774\uc9c0\ub9cc, \uc5ec\uc804\ud788 \uc911\uac04 \uc815\ub3c4\uc758 \ud30c\ud3b8\ud654\ub41c \uc0c1\ud0dc\uc774\uba70 \ub2e4\uc591\ud55c \uc2e4\ud589 \ubaa8\ub378\uc5d0\uc11c \ud65c\ubc1c\ud55c \uacbd\uc7c1\uc774 \uc774\ub8e8\uc5b4\uc9c0\uace0 \uc788\uc2b5\ub2c8\ub2e4. \ud504\ub85c\ud1a0\ucf5c\ub4e4\uc740 \ud1a0\ud070 \uc778\uc13c\ud2f0\ube0c\uc5d0\uc11c \uc218\uc218\ub8cc \uae30\ubc18 \uac00\uce58 \ucd95\uc801\uc73c\ub85c \uc804\ud658\ud558\uace0 \uc788\uc73c\uba70, \uc774\ub294 \uc2dc\uc7a5\uc758 \uc131\uc219\uacfc \ud1a0\ud070 \uacbd\uc81c\uac00 \uc2e4\uc81c \uc0ac\uc6a9\uacfc \uc77c\uce58\ud558\uace0 \uc788\uc74c\uc744 \ub098\ud0c0\ub0c5\ub2c8\ub2e4. \uc900\ube44\uae08 \ud22c\uba85\uc131\uacfc \uaddc\uc81c \uc900\uc218\ub97c \uac15\uc870\ud558\ub294 \uc2a4\ud14c\uc774\ube14\ucf54\uc778 \ubc1c\ud589\uc790\ub4e4\uc740 \ub124\ud2b8\uc6cc\ud06c \ubc0f \uc740\ud589 \ud30c\ud2b8\ub108\uc640\uc758 \ud611\ub825\uc744 \ud1b5\ud574 \uc601\ud5a5\ub825\uc744 \ud655\ub300\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>\uc804\ub7b5\uc801 \uc6c0\uc9c1\uc784:<br \/>\n*   \uc120\ub3c4\uc801\uc778 DEX\ub4e4\uc740 \uc218\uc775\uc744 \uac00\uce58 \ucd95\uc801\uc73c\ub85c \uc804\ud658\ud558\ub294 \uc218\uc218\ub8cc \uc2a4\uc704\uce58\ub97c \ud65c\uc131\ud654\ud588\uc2b5\ub2c8\ub2e4.<br \/>\n*   \uacb0\uc81c \ub124\ud2b8\uc6cc\ud06c\ub294 \uc740\ud589 \ud30c\ud2b8\ub108\uc640 \uc5f0\uacc4\ub41c \uce74\ub4dc \ubc0f \uc778\uc218 \uc6cc\ud06c\ud50c\ub85c\uc6b0 \ub0b4\uc5d0\uc11c \ud504\ub85c\uadf8\ub798\ubc0d \uac00\ub2a5\ud55c \uc790\uc0b0\uc744 \ubc30\uce58\ud558\ub294 \uc2a4\ud14c\uc774\ube14\ucf54\uc778 \uacb0\uc81c \ud30c\uc77c\ub7ff\uc744 \uc2dc\uc791\ud588\uc2b5\ub2c8\ub2e4.<br \/>\n*   \uc740\ud589 \ubc0f \uc2e0\ud0c1 \ud68c\uc0ac\ub294 \ubcf4\uad00 \ubc0f \ud1a0\ud070\ud654\ub97c \ubc1c\uc804\uc2dc\ucf30\uc73c\uba70, \ub300\ud615 \uac70\ub798\uc18c\ub294 \ud30c\uc0dd\uc0c1\ud488 \ubc0f \uae30\uad00 \ucee4\ubc84\ub9ac\uc9c0\ub97c \ud655\uc7a5\ud558\uae30 \uc704\ud574 \uc778\uc218\ub97c \ucd94\uc9c4\ud558\uc5ec \ud558\uc774\ube0c\ub9ac\ub4dc \uc911\uc559\ud654-\ud0c8\uc911\uc559\ud654 \uc11c\ube44\uc2a4 \uc81c\uacf5 \ucd94\uc138\ub97c \ubcf4\uc600\uc2b5\ub2c8\ub2e4.<\/p>\n<p>\uae30\uc220 \ud22c\uc790\ub294 \ub864\uc5c5 \uc2a4\ucf00\uc77c\ub9c1, \uc0ac\uc804 \ud655\uc778, \uac80\uc99d\uc790 \uc5f0\uacc4 \uac00\uce58 \ucd95\uc801\uc5d0 \uc911\uc810\uc744 \ub450\uc5b4 DeFi \uc2dc\uc7a5\uc5d0\uc11c \ubcf4\uc548 \ubc0f \uacbd\uc81c\uc801 \uc778\uc13c\ud2f0\ube0c\ub97c \uc720\uc9c0\ud558\uba74\uc11c \uc218\uc218\ub8cc\ub97c \ub0ae\uac8c \uc720\uc9c0\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \ubc95\ub960 \ubc0f \uaddc\uc81c \uc5c5\ub370\uc774\ud2b8\ub294 \uc2a4\ud14c\uc774\ud0b9, \ub300\ucd9c \ubc0f \uad00\ub828 \ud65c\ub3d9\uc5d0 \ub300\ud55c \uac10\ub3c5\uc744 \ud655\ub300\ud558\uc5ec \uc81c\uacf5\uc5c5\uccb4 \uc804\ubc18\uc758 \uc81c\ud488 \uc124\uacc4 \ubc0f \ub9c8\uc9c4 \ud504\ub808\uc784\uc6cc\ud06c\ub97c \ud615\uc131\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uad81\uadf9\uc801\uc73c\ub85c \uac70\ubc84\ub10c\uc2a4 \uac15\uc810, \ud22c\uba85\ud55c \uc704\ud5d8 \uad00\ub9ac, \uadf8\ub9ac\uace0 \uc740\ud589 \ub4f1\uae09 \uc6cc\ud06c\ud50c\ub85c\uc6b0\uc640\uc758 \ub300\uaddc\ubaa8 \ud1b5\ud569\uc744 \uacb0\ud569\ud55c \ud50c\ub7ab\ud3fc\uc774 DeFi \uc2dc\uc7a5\uc5d0\uc11c \uc131\uacf5\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub429\ub2c8\ub2e4.<\/p>\n<p>\uc8fc\uc694 \ud50c\ub808\uc774\uc5b4: MakerDAO, Uniswap Labs, Curve Finance, Lido Finance, Compound Labs \ub4f1 (\uc21c\uc11c \ubb34\uad00).<\/p>\n<p># \ucd5c\uadfc \uc0b0\uc5c5 \ub3d9\ud5a5<\/p>\n<p>*   2025\ub144 12\uc6d4, Visa Inc.\ub294 \ubbf8\uad6d\uc5d0\uc11c USDC \uacb0\uc81c\ub97c \uc2dc\uc791\ud558\uc5ec, \ubc1c\ud589\uc790 \ubc0f \uc778\uc218\uc790 \ud30c\ud2b8\ub108\uac00 Circle\uc758 USDC \uc2a4\ud14c\uc774\ube14\ucf54\uc778\uc744 \uc0ac\uc6a9\ud558\uc5ec \uac70\ub798\ub97c \uacb0\uc81c\ud560 \uc218 \uc788\ub3c4\ub85d \ud588\uc2b5\ub2c8\ub2e4.<br \/>\n*   2025\ub144 12\uc6d4, JPMorgan\uc740 \uacf5\uc6a9 \ube14\ub85d\uccb4\uc778\uc5d0\uc11c \uc801\uaca9 \ud22c\uc790\uc790\ub97c \uc704\ud55c My Onchain Net Yield Fund (MONY)\ub97c \ucd9c\uc2dc\ud558\uc5ec, \ud1a0\ud070 \uae30\ubc18 \uc2dc\uc2a4\ud15c\uc744 \ud1b5\ud574 \ud22c\uba85\ud558\uace0 \ud6a8\uc728\uc801\uc778 \uacb0\uc81c\ub97c \uac00\ub2a5\ud558\uac8c \ud588\uc2b5\ub2c8\ub2e4.<br \/>\n*   2025\ub144 12\uc6d4, Uniswap\uc740 \ucee4\ubba4\ub2c8\ud2f0 \ud22c\ud45c\uc5d0 \ub530\ub77c V2 \ubc0f V3 \ud480\uc5d0 \ub300\ud55c \ud504\ub85c\ud1a0\ucf5c \uc218\uc218\ub8cc \uc2a4\uc704\uce58\ub97c \uad6c\ud604\ud558\uc5ec, \uc218\uc218\ub8cc\ub97c \uac00\uce58 \ucd95\uc801 \ubc0f \ud1a0\ud070 \uc18c\uac01 \uba54\ucee4\ub2c8\uc998\uc73c\ub85c \uc804\ud658\ud588\uc2b5\ub2c8\ub2e4.<br \/>\n*   2025\ub144 8\uc6d4, Coinbase\uc758 Deribit \uc778\uc218\ub294 DeFi \ub124\uc774\ud2f0\ube0c \uae30\ub2a5\uc744 \ud558\uc774\ube0c\ub9ac\ub4dc \uac70\ub798\uc18c \ubaa8\ub378\uc5d0 \ud1b5\ud569\ud558\uc5ec \ud30c\uc0dd\uc0c1\ud488 \uc81c\uacf5 \ubc0f \uae30\uad00 \ucee4\ubc84\ub9ac\uc9c0\ub97c \uac15\ud654\ud558\ub294 \uac83\uc744 \ubaa9\ud45c\ub85c \ud588\uc2b5\ub2c8\ub2e4.<\/p>\n<p>\ud0c8\uc911\uc559\ud654 \uae08\uc735(DeFi) \uc2dc\uc7a5 \ubcf4\uace0\uc11c \uc694\uc57d<\/p>\n<p>\ubcf8 \ubcf4\uace0\uc11c\ub294 \ube14\ub85d\uccb4\uc778 \uae30\ubc18\uc758 \uae08\uc735 \uc2dc\uc2a4\ud15c\uc778 \ud0c8\uc911\uc559\ud654 \uae08\uc735(DeFi) \uc2dc\uc7a5\uc5d0 \ub300\ud55c \uc2ec\uce35 \ubd84\uc11d\uc744 \uc81c\uacf5\ud569\ub2c8\ub2e4. DeFi\ub294 \uc2a4\ub9c8\ud2b8 \uacc4\uc57d\uc744 \ud65c\uc6a9\ud558\uc5ec \ub300\ucd9c, \ucc28\uc6a9, \uac70\ub798 \ub4f1 \ub2e4\uc591\ud55c \uae08\uc735 \uc11c\ube44\uc2a4\ub97c \uc911\uac1c\uc790 \uc5c6\uc774 \uc790\ub3d9\ud654\ud558\uba70, \ud22c\uba85\uc131, \ube44\uc6a9 \ud6a8\uc728\uc131, \ube60\ub978 \uacb0\uc81c \ub4f1\uc758 \uc774\uc810\uc744 \uc81c\uacf5\ud558\ub294 \ub3d9\uc2dc\uc5d0 \ubd84\uc0b0\ud654\uc5d0 \ub530\ub978 \ubcf5\uc7a1\uc131\uacfc \uc704\ud5d8\ub3c4 \ub0b4\ud3ec\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>1. \uc2dc\uc7a5 \uaddc\ubaa8 \ubc0f \uc131\uc7a5 \uc804\ub9dd<br \/>\nDeFi \uc2dc\uc7a5\uc740 2026\ub144 2,385.4\uc5b5 \ub2ec\ub7ec \uaddc\ubaa8\uc5d0\uc11c 2031\ub144\uae4c\uc9c0 7,705.6\uc5b5 \ub2ec\ub7ec\uc5d0 \uc774\ub97c \uac83\uc73c\ub85c \uc804\ub9dd\ub418\uba70, \uc5f0\ud3c9\uade0 \uc131\uc7a5\ub960(CAGR)\uc740 26.43%\uc5d0 \ub2ec\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub429\ub2c8\ub2e4. \uc774\ub7ec\ud55c \uc131\uc7a5\uc740 \uaddc\uc81c\ub41c \uc811\uadfc\uc131 \ud655\ub300, \ud1a0\ud070\ud654 \uae30\uc220 \ubc1c\uc804, \uadf8\ub9ac\uace0 \uacb0\uc81c \ub4f1\uae09\uc758 \uc815\uc0b0 \uc2dc\uc2a4\ud15c \ub3c4\uc785\uc5d0 \ud798\uc785\uc744 \uac83\uc73c\ub85c \ubd84\uc11d\ub429\ub2c8\ub2e4.<\/p>\n<p>2. \uc2dc\uc7a5 \uc131\uc7a5 \ub3d9\ub825<br \/>\nDeFi \uc2dc\uc7a5\uc758 \uc8fc\uc694 \uc131\uc7a5 \ub3d9\ub825\uc740 \ub2e4\uc74c\uacfc \uac19\uc2b5\ub2c8\ub2e4.<br \/>\n*   \ucd1d \uc608\uce58 \uc790\uc0b0(TVL) \uc99d\uac00: \ud575\uc2ec DeFi \uc218\uc9c1 \ubd80\ubb38 \uc804\ubc18\uc5d0 \uac78\uccd0 \ucd1d \uc608\uce58 \uc790\uc0b0\uc774 \uc9c0\uc18d\uc801\uc73c\ub85c \uc99d\uac00\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<br \/>\n*   \uaddc\uc81c \uba85\ud655\uc131: \ubbf8\uad6d(ETF) \ubc0f \uc720\ub7fd\uc5f0\ud569(MiCA)\uc758 \uaddc\uc81c \uba85\ud655\ud654\ub294 \uae30\uad00 \ud22c\uc790\uc790\ub4e4\uc758 \uc2dc\uc7a5 \uc720\uc785\uc744 \ucd09\uc9c4\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<br \/>\n*   \ub808\uc774\uc5b4-2 \uc218\uc218\ub8cc \uc555\ucd95: \ub808\uc774\uc5b4-2 \uc194\ub8e8\uc158\uc758 \uc218\uc218\ub8cc \uc808\uac10\uc740 DeFi\uc758 \ud65c\uc6a9 \uc0ac\ub840\ub97c \ud655\uc7a5\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<br \/>\n*   \ud1a0\ud070\ud654\ub41c \uc2e4\ubb3c \uc790\uc0b0(RWA) \ud50c\ub7ab\ud3fc \uc131\uc7a5: \uc740\ud589 \ub4f1\uae09\uc758 \ud1a0\ud070\ud654\ub41c \uc2e4\ubb3c \uc790\uc0b0 \ud50c\ub7ab\ud3fc\uc774 \uc2dc\uc7a5\uc5d0\uc11c \uacac\uc778\ub825\uc744 \uc5bb\uace0 \uc788\uc2b5\ub2c8\ub2e4.<br \/>\n*   AI \uae30\ubc18 &#8220;DeFAI&#8221; \ub85c\ubcf4 \uc5d0\uc774\uc804\ud2b8: \uc778\uacf5\uc9c0\ub2a5 \uae30\ubc18\uc758 &#8220;DeFAI&#8221; \ub85c\ubcf4 \uc5d0\uc774\uc804\ud2b8\uac00 \uc218\uc775\ub960 \uc804\ub7b5\uc744 \uc790\ub3d9\ud654\ud558\uba70 \ud6a8\uc728\uc131\uc744 \ub192\uc774\uace0 \uc788\uc2b5\ub2c8\ub2e4.<br \/>\n*   \uacb0\uc81c \ub124\ud2b8\uc6cc\ud06c \ud1b5\ud569: \uc8fc\ub958 \uacb0\uc81c \ub124\ud2b8\uc6cc\ud06c\uc640\uc758 \ud1b5\ud569\uc740 DeFi\ub97c \uae30\uc874 \uae08\uc735 \uc2dc\uc2a4\ud15c\uacfc \uc5f0\uacb0\ud558\ub294 \ub2e4\ub9ac \uc5ed\ud560\uc744 \ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>3. \uc2dc\uc7a5 \uc81c\uc57d \ubc0f \uc704\ud5d8 \uc694\uc18c<br \/>\nDeFi \uc2dc\uc7a5\uc758 \ud655\uc7a5\uc744 \uc800\ud574\ud560 \uc218 \uc788\ub294 \uc8fc\uc694 \uc704\ud5d8 \uc694\uc18c\ub294 \ub2e4\uc74c\uacfc \uac19\uc2b5\ub2c8\ub2e4.<br \/>\n*   \uc2a4\ub9c8\ud2b8 \uacc4\uc57d \uc775\uc2a4\ud50c\ub85c\uc787 \ubc0f \uc624\ub77c\ud074 \uc870\uc791 \uc704\ud5d8: \uae30\uc220\uc801 \ucde8\uc57d\uc810\uc73c\ub85c \uc778\ud55c \ubcf4\uc548 \ubb38\uc81c\uac00 \uc9c0\uc18d\uc801\uc73c\ub85c \uc874\uc7ac\ud569\ub2c8\ub2e4.<br \/>\n*   AML\/KYC \uaddc\uc81c \uc9d1\ud589: \uc790\uae08\uc138\ud0c1\ubc29\uc9c0(AML) \ubc0f \uace0\uac1d\ud655\uc778(KYC) \uaddc\uc81c \ubbf8\uc900\uc218 dApp\uc5d0 \ub300\ud55c \uaddc\uc81c \ub2f9\uad6d\uc758 \uc9d1\ud589 \uc870\uce58\uac00 \uac15\ud654\ub418\uace0 \uc788\uc2b5\ub2c8\ub2e4.<br \/>\n*   \uc720\ub3d9\uc131 \uc9d1\uc911: \uc18c\uc218\uc758 \ud480\uc5d0 \uc720\ub3d9\uc131\uc774 \uc9d1\uc911\ub418\uc5b4 \uc2dc\uc2a4\ud15c\uc801 \uc704\ud5d8\uc744 \uc99d\uac00\uc2dc\ud0ac \uc218 \uc788\uc2b5\ub2c8\ub2e4.<br \/>\n*   \ub808\ubc84\ub9ac\uc9c0 \ubc0f \ud30c\uc0dd\uc0c1\ud488 \uaddc\uc81c: \ub808\ubc84\ub9ac\uc9c0 \ubc0f \ud30c\uc0dd\uc0c1\ud488\uc5d0 \ub300\ud55c \ud45c\uc801 \uaddc\uc81c \uc870\uce58\ub294 \uc2dc\uc7a5\uc5d0 \ubd88\ud655\uc2e4\uc131\uc744 \uc57c\uae30\ud569\ub2c8\ub2e4.<\/p>\n<p>4. \uc2dc\uc7a5 \uc138\ubd84\ud654 \ubc0f \uc8fc\uc694 \ud2b8\ub80c\ub4dc<br \/>\n*   \ud504\ub85c\ud1a0\ucf5c \uc720\ud615\ubcc4: \ud1a0\ud070\ud654\ub41c RWA \ud50c\ub7ab\ud3fc\uc740 \uae30\uad00 \uc694\uad6c\uc0ac\ud56d\uc5d0 \ubd80\ud569\ud558\ub294 \uaddc\uc81c \uc900\uc218 \ubc1c\ud589 \ubc0f \ucee4\uc2a4\ud130\ub514\ub97c \ud1b5\ud574 2031\ub144\uae4c\uc9c0 39.72%\uc758 \uac00\uc7a5 \ube60\ub978 CAGR\ub85c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub429\ub2c8\ub2e4.<br \/>\n*   \ucd5c\uc885 \uc0ac\uc6a9 \uc560\ud50c\ub9ac\ucf00\uc774\uc158\ubcc4: \uacb0\uc81c, \uc1a1\uae08 \ubc0f \uad6d\uacbd \uac04 \uc790\uae08 \uad00\ub9ac\ub294 \uc740\ud589 \ubc0f \ub124\ud2b8\uc6cc\ud06c \ud45c\uc900\uc5d0 \ubd80\ud569\ud558\ub294 \uc2a4\ud14c\uc774\ube14\ucf54\uc778 \uacb0\uc81c \ud30c\uc77c\ub7ff\uc744 \uae30\ubc18\uc73c\ub85c 34.67%\uc758 CAGR\ub85c \uac00\uc7a5 \ube60\ub974\uac8c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc804\ub9dd\ub429\ub2c8\ub2e4.<br \/>\n*   \ucd5c\uc885 \uc0ac\uc6a9\uc790\ubcc4: \uae30\uad00 \ud22c\uc790\uc790 \ubc0f \uc790\uc0b0 \uad00\ub9ac\uc790\ub294 ETF, \ucee4\uc2a4\ud130\ub514, \uc2e0\ud0c1 \uad6c\uc870\ub97c \ud1b5\ud574 \uc815\ucc45\uc5d0 \ubd80\ud569\ud558\ub294 \uc6b4\uc601 \uac00\ub2a5\ud55c \uc811\uadfc\uc774 \uac00\ub2a5\ud574\uc9c0\uba74\uc11c 32.55%\uc758 CAGR\ub85c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub429\ub2c8\ub2e4.<br \/>\n*   \uc9c0\uc5ed\ubcc4: \ubd81\ubbf8\ub294 2025\ub144 42.78%\uc758 \uc2dc\uc7a5 \uc810\uc720\uc728\ub85c \uc120\ub450\ub97c \uc720\uc9c0\ud560 \uac83\uc774\uba70, \uc544\uc2dc\uc544-\ud0dc\ud3c9\uc591 \uc9c0\uc5ed\uc740 \ud5c8\ube0c\ub4e4\uc774 \uc2a4\ud14c\uc774\ube14\ucf54\uc778 \ubc0f \ud1a0\ud070\ud654 \uaddc\uc81c\ub97c \uc2dc\ud589\ud568\uc5d0 \ub530\ub77c 2031\ub144\uae4c\uc9c0 31.89%\uc758 \uac00\uc7a5 \ube60\ub978 CAGR\ub85c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc608\uce21\ub429\ub2c8\ub2e4.<\/p>\n<p>5. \uacbd\uc7c1 \ud658\uacbd<br \/>\n\ubcf4\uace0\uc11c\ub294 MakerDAO, Uniswap Labs, Curve Finance, Lido Finance \ub4f1 \uc8fc\uc694 20\uac1c \uae30\uc5c5\uc758 \ud504\ub85c\ud544\uc744 \ud3ec\ud568\ud558\uc5ec \uc2dc\uc7a5 \uc9d1\uc911\ub3c4, \uc804\ub7b5\uc801 \uc6c0\uc9c1\uc784, \uc2dc\uc7a5 \uc810\uc720\uc728 \ubd84\uc11d\uc744 \ud1b5\ud574 \uacbd\uc7c1 \ud658\uacbd\uc744 \uc870\uba85\ud569\ub2c8\ub2e4.<\/p>\n<p>\uacb0\ub860\uc801\uc73c\ub85c, DeFi \uc2dc\uc7a5\uc740 \uaddc\uc81c \ud658\uacbd\uc758 \uac1c\uc120\uacfc \uae30\uc220 \ud601\uc2e0\uc5d0 \ud798\uc785\uc5b4 \uc0c1\ub2f9\ud55c \uc131\uc7a5 \uc7a0\uc7ac\ub825\uc744 \uac00\uc9c0\uace0 \uc788\uc73c\ub098, \ubcf4\uc548 \ubc0f \uaddc\uc81c \uc900\uc218\uc640 \uad00\ub828\ub41c \ub3c4\uc804 \uacfc\uc81c\ub4e4\uc744 \ud574\uacb0\ud574\uc57c \ud560 \uac83\uc785\ub2c8\ub2e4.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-39311","post","type-post","status-publish","format-standard","hentry","category-market-reports"],"_links":{"self":[{"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/posts\/39311"}],"collection":[{"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/comments?post=39311"}],"version-history":[{"count":0,"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/posts\/39311\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/media?parent=39311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/categories?post=39311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/tags?post=39311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}