Standfirst: The crypto market last year took significant strides to break into the mainstream consciousness; from the arrival of Europe’s Markets in Crypto Assets (MiCA) regulation, to the launch of Bitcoin and ETH ETFs in the US.
The sector has since built on that momentum, while steering clear of the high-profile collapses of the past that once threatened its credibility. Political and regulatory tailwinds are shaping its next phase: Donald Trump has signalled ambitions to usher in a new era of digital asset growth in the US, while markets such as Hong Kong and Singapore are investing in infrastructure to support stablecoin adoption.
All these key talking points will be highlighted at the Payment Expert Summit during SBC Summit on September 16-18 in Lisbon. Speaking to Payment Expert ahead of the conference, Mark Grech, Founder and CEO of Pyaza, spoke about some of the key developments happening in the global crypto market.
With the crypto market experiencing new all-time highs in prices for Bitcoin and a greater global acceptance of trading in the US with the ETF launches, how has 2025 built from the momentum of 2024?
2025 has continued the strong momentum from 2024, but with a notable shift in mindset.
Last year’s ETF approvals in the US didn’t just validate crypto in the eyes of regulators, they gave traditional investors an easy entry point.
This year, we’re seeing more sophisticated infrastructure being built to support that momentum. More institutions are allocating larger portions of their portfolios to crypto, and digital assets are being discussed in boardrooms across multiple industries. Adoption is not only growing, it’s becoming strategic.
While institutional investors are reaping the benefits, what more can be done from theindustry to bring in more outside investors and has the industry truly become globallymainstream yet?
We are close, but not there yet. The crypto industry still has work to do in simplifying onboarding and making trust, transparency, and education more accessible to the everyday user. Better user experiences, clearer regulatory frameworks, and integration into everyday applications are key.
Bringing in outside investors will also rely heavily on real-world use cases that make sense outside of speculative trading, like cross-border payments, tokenized assets, and loyalty models.
2025 has so far been one of crypto’s most important in terms of regulation. How have developments in the US and the maturation of MiCA enabled previously sceptical companies to embrace the crypto industry?
Clearer regulation has always been the missing piece. In 2025, we’ve finally seen both the US and Europe commit to real frameworks, and that has helped shift the tone from avoidance to exploration. MiCA has particularly helped European companies by creating a uniform standard.
In the US, while progress is slower, the regulatory guidance that has come with ETF approvals has given institutions the confidence to act. Sceptical companies are now engaging legal, product, and tech teams to understand how they can strategically enter the space.
Speaking of the US and Europe’s MiCA, will we expect to see a tug-of-war from both regions to claim the title as ‘crypto leader’ and how might this transpire this year and in 2026?
Absolutely, and it’s already happening. The US has the edge in capital markets and institutional finance, while Europe has been faster on regulation.
We will likely see a regional push from each to set the standard for others to follow, especially in areas like stablecoin regulation, tokenized securities, and DeFi frameworks.
This tug-of-war will likely lead to innovation on both sides, which ultimately benefits the industry globally.
Stablecoins have exploded in interest this year. Why are traditional finance institutions only now beginning to realise the payment benefits of stablecoins?
The answer is friction. Traditional systems for cross-border payments, settlements, and treasury operations are slow and expensive. Stablecoins solve that. It took time for financial institutions to understand the technology, get comfortable with custodial models, and see regulatory clarity.
Now that those barriers are being addressed, banks and corporates are waking up to the efficiencies and control stablecoins can offer.
With banks becoming increasingly interested in stablecoins and digital assets, how might this shift the landscape and will the reliance of early leaders such as Tether and Circle fade into the background if banks begin to issue their own stablecoins?
We’re entering a multi-stablecoin world. Tether and Circle are early movers and still critical to the current infrastructure, but banks entering this space will bring scale and credibility.
We might see more region-specific or institution-specific stablecoins emerge, but that does not mean Tether or Circle will fade completely. Instead, we will see a diversified ecosystem where different stablecoins serve different needs, and interoperability will become the next challenge to solve.
Are we still scratching the surface when it pertains to DeFi? What are some of the payment or financial innovations you believe could truly innovate these spaces?
Definitely still early days. The next wave of DeFi innovation will come from real-world integration and user-focused design. Innovations around decentralized identity, credit scoring using on-chain data, and integration of DeFi rails into traditional payment stacks are coming.
I also see strong potential in programmable money and automated treasury management for companies, especially in volatile markets.
What are some of the conversations you hope to engage with attendees at SBC Summit Lisbon when it comes to the future of crypto and blockchain?
I’m looking forward to discussing real use cases. Crypto in iGaming, token-based loyalty, and how payment orchestration is being redefined with blockchain.
I also want to challenge attendees to think beyond trading and hype and focus on infrastructure, user experience, and how their businesses can use these tools to improve efficiency, retention, and growth.
Most of all, I want to speak with innovators who are not just talking about the future but building it.
SBC Summit will take place from 16–18 September at the Feira Internacional de Lisboa and MEO Arena, bringing together 30,000 industry stakeholders for an unmissable three-day experience.
Looking to attend? Here’s how:
- Secure your place with a VIP Event Pass – Enjoy full access to all conference sessions, the exhibition floor, exclusive networking events, and complimentary food and drink throughout the summit.
- Bringing the team? Take advantage of our Group Pass Discount — purchase three or more VIP Event Passes and pay just €400 per ticket (saving €200 off the standard price).
- Operator or affiliate? You may be eligible for a complimentary VIP Event Pass, which includes full access to the exhibition, conference, and exclusive networking events. Apply now to reserve your spot.
Expo+ Pass: Gain access to the full exhibition floor and all conference sessions across the three days. This does not include access to our exclusive VIP evening networking events.
