The Euro Area's total deposit market size is about $17 trillion. In this environment, even the safest and lowest risk (based on stable-coins) DeFi APY is at least 1.7-2% (with good opportunities for >8% APY) and makes a really big difference from an investment point of view and a great business opportunity for CeDeFi projects and products.
The deposit market conundrum: while credit growth remains nearly non-existent, deposit growth has picked up further momentum and is now at its strongest since 2009. This comes despite record-low borrowing costs for customers and deposit rates virtually at zero. Money is also losing value due to inflation.