In its "2026 Global Crypto Regulatory Report," PwC points out that institutional adoption of crypto assets has crossed an "irreversible point," and the process is difficult to reverse. The report states that the current focus is no longer on whether institutions should use crypto assets, but rather on how to integrate them into the existing financial system. Crypto assets are shifting from being primarily for trading and speculation to being deeply embedded in core financial scenarios such as payments, settlements, fund management, and balance sheet management, with the production-level application of stablecoins being particularly crucial. PwC notes that stablecoins and tokenized cash are being widely used by banks, asset management institutions, and payment companies for internal transfers, cross-border payments, and corporate fund operations. Crypto technology is gradually becoming "the financial infrastructure operating behind the scenes," often imperceptible to end users. The report argues that once crypto systems are embedded in an institution's core business processes, the adoption path is irreversible. This view is echoed by several market participants, including Circle, the issuer of USDC.