The rise of neobanks has transformed the financial sector by eliminating physical branches and focusing on a mobile-first experience. Consumers prefer these banks for their low fees and convenience. As stablecoin adoption grows, there's an opening for crypto neobanks, which could offer a more integrated banking experience within the crypto ecosystem. Currently, centralized exchanges (CEXs) dominate this space, acting as gateways to crypto while operating within the constraints of traditional financial systems. They lack the transparency and flexibility of decentralized finance (DeFi). The article proposes the concept of a "DefiBank," which aims to reconstruct banking services using decentralized technology. Unlike traditional banks that rely on intermediaries and charge high fees, DefiBanks facilitate wallet-to-wallet payments, significantly reducing transaction fees. They also generate revenue through trading fees and by mitigating issues like Maximal Extractable Value (MEV). This model could potentially serve users without credit histories, such as immigrants, by combining onchain collateral with offchain data. DefiBanks offer distinct advantages over both traditional banks and neobanks in three main areas: spending, earning, and borrowing. For spending, DefiBanks eliminate card networks, capturing the entire payment stack. When it comes to earning, they integrate trading with savings while avoiding hidden fees. In borrowing, they leverage a comprehensive approach to assess risk, allowing them to extend credit to underserved populations. The article encourages further exploration of DefiBanks and their competitive edge through a linked report on the topic.