In conversation with Vasily Shilov, CBDO at SwapSpace: Privacy, DEXs, and what the conference season actually revealed

SwapSpace’s CBDO, Vasily Shilov, highlights market trends and industry direction following EthCC and Paris Blockchain Week insights.

In April, the SwapSpace team attended two major crypto events: EthCC and Paris Blockchain Week. The company’s CBDO, Vasily Shilov, shared some insights in an interview. Today, we’ll find out what’s happening in the crypto market right now, what topics are being discussed at conferences, and where the industry is headed.

It was a busy conference season. What was the atmosphere like at EthCC and Paris Blockchain Week?

EthCC took place in Cannes over four days. There was a main program and a series of side events. Overall, the conference felt energetic and full of forward-looking ideas, with several trends pointing to where the market may be heading next. At the same time, a more cautious undertone was hard to miss: several major players, including L2 projects, have scaled back their activity, and fewer new projects are entering the market. But here’s what’s interesting: the market is clearly shifting toward more sophisticated revenue models, with growing focus on RWAs and investment-driven products rather than simple swap-based infrastructure.

Paris Blockchain Week was very different from EthCC. There were many attendees from traditional finance, including bankers. What stood out was the strong convergence between Web2, Web2.5, and web3, a signal of broader adoption as these ecosystems continue to overlap. It also showed how interconnected the space is becoming: within just a few conversations, you could be only a couple of introductions away from institutional players.

Despite the cautious mood, what is the main trend right now?

There is definitely a trend toward privacy. Users are tired of pressure from institutions and are returning to the original idea of crypto – the ability to manage their own money without anyone’s permission.

Users are asking a simple question: why should every swap they make be visible to anyone, anywhere, forever? This isn’t about pushing boundaries; it’s about not exposing personal financial activity to unnecessary visibility. Just like in traditional finance, people expect discretion when it comes to their money, and in many ways, crypto is still catching up to that standard.

Which market segments are performing the strongest right now?

Decentralization and intent-based models are becoming a core direction in the market, reflecting users’ growing preference for transacting without centralized intermediaries. DEXs are one expression of this shift, giving users more control over execution, greater flexibility, and more private transaction flows. As a result, more users are exploring these solutions, and wallets are actively expanding partnerships to support this evolving demand.

We’re moving in the same direction and have already added our first two DEX partners. This allows our users to access decentralized liquidity and rely less on centralized infrastructure.

At conferences, it was clear that wallets are moving en masse toward DEXs. That’s why we have already started conversations with the teams behind Tangem, Cake Wallet, and Coolwallet. The product is in development, and we plan to introduce private swap functionality on SwapSpace in the near future by aggregating offers from trusted providers.

What other areas besides privacy are gaining momentum?

First and foremost is RWA – the trend toward tokenizing real-world assets continues to grow. Users want to invest in real-world assets. At SwapSpace, we’re clearly seeing this trend play out. Our platform already supports swaps across 150+ RWA tokens, and in Q1 2025 alone, swap activity for these assets increased by 17%.

The trend toward prediction markets, perpetual contracts, and, of course, AI agents in DeFi is also actively developing.

How are you planning to adapt to market trends?

First and foremost, we’re focused on strengthening our partnerships and expanding our product capabilities. As an aggregator, we’re building a comprehensive and competitive solution for private swaps – powered by multiple trusted partners, aggregated into a single flow, and designed to consistently deliver top rates. Some of these plans are already underway: we’ve launched cross-integration with LetsExchange, and several companies are currently testing our white-label solution and API.

Ultimately, the market continues to evolve. Bullish and bearish cycles come and go, but new narratives keep emerging and gaining traction. We see this as an opportunity to stay flexible, adapt quickly, and contribute to shaping the next phase of the industry.

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