Low trust in banks drives Americans toward crypto and DeFi adoption

• Nearly 18% of Americans have used or owned cryptocurrency.
• 84% would use DeFi for online shopping, 78% for bills, 77% for saving.
• 54% want full control over personal and financial data.

A new study by the Defi Education Fund, carried out with Ipsos, reveals a strong appetite for alternative financial systems in the United States.

The survey shows that frustration with traditional banks is widespread, and many Americans want greater control over their money. At the same time, interest in decentralised finance is steadily rising.

Nearly one in five Americans has owned or used cryptocurrency, while a larger group is keen to explore DeFi as a way to manage transactions without relying on intermediaries.

The findings highlight the scale of financial dissatisfaction and the shift towards digital finance.

Growing demand for DeFi access

The study indicates that 42% of Americans would try DeFi if regulations made access easier.

Of those, 84% would use DeFi for online shopping, 78% for paying bills, and 77% for saving money.

Despite this, only 12% of respondents described themselves as very or extremely interested in learning about DeFi, showing a gap between potential use and deeper understanding.

Four in ten participants believe DeFi could help reduce transaction and service fees, which are often considered too high in the current banking system.

Around 22% of Americans are also curious about blockchain, crypto, and other non-traditional finance models.

The research underlines how people across different age groups and backgrounds are showing an interest, pointing to broad-based demand.

Weakening trust in traditional banks

Confidence in the banking sector remains low. Only 40% of respondents said they trust large national banks, and 43% trust regional or community banks.

Less than half of Americans feel the financial system meets their needs, while only 25% believe it benefits ordinary people.

The survey further shows that 56% of Americans want full control of their money, and 51% want the ability to send money digitally without third-party involvement.

Foreign-born Americans showed an especially strong desire for these features.

Security concerns are also pronounced, with only 29% of respondents believing the financial system is secure.

Many participants also said they see current fees as barriers to inclusion, underscoring the demand for alternatives.

Lawmakers weigh crypto regulation

The findings come at a time when lawmakers and industry leaders are actively shaping crypto policy in the US.

Efforts to regulate digital assets could have a direct impact on adoption rates, especially as 42% of Americans link their interest in DeFi to easier access through legislation.

The study highlights that 54% of Americans want complete control of their personal and financial data, reflecting broader concerns about privacy in digital transactions.

This intersection of public demand, regulatory debate, and emerging technology could play a critical role in determining how DeFi develops in the United States in the coming years.

The data suggests that the conversation around finance is no longer limited to banks and regulators, but increasingly includes everyday Americans who want a different kind of system.

Growing participation in crypto markets and the ongoing debate on financial rules will continue to shape how quickly DeFi moves into the mainstream.

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