Answer: Defi Platforms
Explanation: The increasing popularity of decentralised finance (DeFi) platforms is one recent development in the fintech environment. DeFi refers to the use of blockchain technology and smart contracts to construct decentralised financial applications that do not require intermediaries such as banks.
The rise of decentralised lending and borrowing platforms is one prominent component of DeFi. Individuals can use these platforms to lend and borrow digital assets directly from one another, eliminating the need for traditional financial institutions. Participants can earn interest on their deposited assets by lending them out, while borrowers can obtain funds without having to go through lengthy loan approval processes.