The main characteristics of the financial innovations are that they are open, easy-to-access, global and programmable. These innovations are mostly based on the blockchain technology and aim to increase accessibility, efficiency and transparency of financial services. They include decentralized financial services covering lending, borrowing, trading, insurance, etc, and stablecoins, non-fungible tokens (NFTs), asset tokenization, decentralized autonomous organizations (DAOs), digital wallets, identities and web3 payments, etc.