Since then, the sector has taken advantage of that impulse, while avoiding the high-profile collapses of the past that once threatened its credibility. Favorable political and regulatory factors are shaping their next phase: Donald Trump has expressed his ambition to mark the beginning of a new era of growth of digital assets in the United States, while markets such as Hong Kong and Singapore are investing in infrastructure to boost the adoption of stablecoins.
All these key points will be addressed at the Payment Expert Summit during the SBC Summit, from September 16 to 18 in Lisbon. Mark Grech, founder and CEO of Pyaza, spoke with Payment Expert before the fair about some of the key developments that are taking place in the global cryptocurrency market.
Payment Expert: With the cryptocurrency market reaching new historical highs in the price of Bitcoin and a greater global acceptance of its trading in the United States with the launch of ETFs, how has 2025 been consolidated from the momentum of 2024?
Mark Grech: 2025 has continued the strong momentum of 2024, but with a remarkable change of mentality. Last year's ETF approvals not only validated cryptocurrencies to regulators, but also facilitated access to traditional investors.
This year, we are seeing the construction of a more sophisticated infrastructure to support that impulse. More and more institutions are allocating a greater proportion of their portfolios to cryptocurrencies, and digital assets are being debated on the boards of directors of various sectors. Adoption is not only growing, but it is becoming strategic.
Payment Expert: While institutional investors are reaping the profits, what else can the industry do to attract more external investors? Has the industry already been consolidated globally?
M.G.: We are close, but we haven't succeeded yet. The cryptocurrency industry still has work to do to simplify incorporation and make trust, transparency and education more accessible to the common user. Better user experiences, clearer regulatory frameworks and integration into everyday applications are key.
The attraction of external investors will also depend largely on real use cases that make sense beyond speculative trading, such as cross-border payments, tokenized assets and loyalty models.
Payment Expert: To date, 2025 has been one of the most important years for cryptocurrencies in terms of regulation. How have advances in the United States and the maturation of MiCA allowed previously skeptical companies to adopt the cryptocurrency industry?
M.G.: Clearer regulation has always been the key. In 2025, we have finally seen the United States and Europe commit to real regulatory frameworks, which has helped change the tone of evasion to exploration. MiCA has especially helped European companies by creating a uniform standard.
In the United States, although progress is slower, the regulatory orientation that has accompanied the approval of ETFs has given institutions the confidence to act. Skeptical companies are now contacting legal, product and technology teams to understand how they can strategically enter the sector.
Payment Expert: Will there be a battle between both regions to claim the title of "leader in cryptocurrencies"? How could this phenomenon evolve?
M.G.: Of course, and it's already happening. The United States has an advantage in capital markets and institutional finance, while Europe has been faster in regulation. We will probably see a regional impulse from each to set the standard that others will follow, especially in areas such as the regulation of stablecoins, tokenized values and DeFi frameworks. This "tug of war" will likely generate innovation on both sides, which will ultimately benefit the industry globally.
Payment Expert: Interest in stablecoins has increased enormously this year. Why are traditional financial institutions just now beginning to understand the advantages of stablecoins in payments?
M.G.: The answer is friction. Traditional systems of cross-border payments, settlements and treasury operations are slow and expensive. Stablecoins solve this problem. It took financial institutions time to understand the technology, become familiar with custody models and see the regulatory clarity.
Now that those barriers are being addressed, banks and businesses are realizing the efficiencies and control that stable currencies can offer.
Dingnews.com 19/08/2025