Cryptocurrency Infrastructure Expands Beyond Speculation to Wall Street Integration

Phyrex posted on X. The cryptocurrency landscape is evolving from mere speculation to becoming a foundational infrastructure for Wall Street and major payment companies. Financial institutions are not just jumping on the bandwagon; they are expanding their workforce across various roles, including product development, business development, trading, backend engineering, and blockchain development. This comprehensive hiring strategy indicates their commitment to building a long-term system. Major players in the payment sector, such as Visa, Mastercard, and American Express, are involved, alongside banking giants like JPMorgan, Citi, and Morgan Stanley. Asset management firms like BlackRock and consulting companies like EY are also participating. These institutions aim to create an integrated business model encompassing payments, banking, asset management, and compliance services. The goal is to incorporate on-chain assets into traditional financial frameworks for settlement, custody, risk management, and compliance. The path to compliance is gradually taking shape, with Wall Street actively recruiting talent, securing positions, and developing products. They are betting on a future where asset issuance, settlement, and capital flows increasingly move towards regulated on-chain and crypto-financial systems.