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 up to cryptocurrencies. He emphasized that traditional finance firms risk becoming obsolete if they fail to adopt crypto, particularly with crypto wallet adoption growing at an annual rate of 20% to 30%.
The increasing regulation and adoption of stablecoins are also playing a crucial role. Zhou noted that stablecoins are now being used for remittances and payments, with crypto research firm Delphi Digital projecting that stablecoin transactions surpassed traditional payment platforms like Visa and Mastercard in 2025, exceeding $18 trillion.
Zhou argued that cryptocurrency transactions offer significant advantages over traditional bank transfers, citing their speed and cost-effectiveness compared to the SWIFT system. He also pointed to investment banks like Goldman Sachs integrating tokenized assets into their operations as further evidence of this trend.
Bybit, founded by Zhou in 2018, initially faced internal skepticism about Bitcoin's legitimacy. However, the company has since become a major player in the crypto exchange market, reflecting the broader acceptance of digital assets worldwide. The growing interest from traditional finance firms suggests a future where cryptocurrencies are more deeply integrated into the global financial system, potentially reshaping international transactions and investment strategies.
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