Traditional finance firms are increasingly embracing cryptocurrencies, according to Ben Zhou, CEO of Bybit, the world's second-largest crypto exchange by trading volume. This shift marks a significant evolution in the perception and integration of digital assets within the global financial landscape.
Zhou highlighted the U.S.'s passage of the GENIUS Act as a key indicator of governments and traditional institutions warming to cryptocurrencies. He emphasized the potential for obsolescence for firms that fail to adapt, particularly with crypto wallet adoption growing at an annual rate of 20% to 30%.
The increasing regulation and utility of stablecoins are driving their adoption for remittances and payments. Zhou noted that in 2025, stablecoin transactions surpassed traditional payment platforms like Visa and Mastercard, with over $18 trillion settled, according to data from crypto research firm Delphi Digital. This surge underscores the growing preference for cryptocurrency transactions, which Zhou argues are faster and cheaper than traditional bank transfers reliant on systems like SWIFT.
Bybit, founded in 2018, initially faced internal skepticism regarding Bitcoin's legitimacy. However, the company has since become a major player in the cryptocurrency exchange market, reflecting the broader acceptance of digital assets. Investment banks like Goldman Sachs are actively exploring the integration of tokenized assets, signaling a deeper engagement from established financial institutions.
Looking ahead, Zhou anticipates continued growth and integration of cryptocurrencies within the global financial system. The speed and cost-effectiveness of crypto transactions, coupled with increasing regulatory clarity, position digital assets as a viable alternative to traditional financial infrastructure. This trend suggests a future where traditional finance and cryptocurrency ecosystems converge, potentially reshaping the landscape of international finance and commerce.
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